“Petrobras” will sell renewable bunker fuel
Brazilian “Petrobras” has received permission from the National Agency for Oil, Natural Gas and Biofuels to sell bunker fuels with renewable components, the company's press release.
B24 fuel with a very low sulfur content is obtained by mixing petroleum bunker fuel and biodiesel in a ratio of 76% to 24%. The biodiesel used is certified by ISCC EU RED (in the field of sustainable development and greenhouse gas emissions).
It should be noted that in 2020, IMO rules came into force prescribing the use of fuel with a maximum sulfur content of 0.5% in shipping instead of the previous 3.5% (with the exception of ships equipped with scrubbers).
According to S&P Global, against the background of this directive, in 2022, the consumption of low-sulfur marine fuel reached 143.1 million tons - 45% of total demand.
In addition, the World Shipping Council (WSC) recently proposed charging carbon charges from ships using high-emission fuels in favor of "clean" fuel vessels.
Energy
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Regular measures are being taken to enhance ties between Türkiye and the Nakhchivan Autonomous Republic (NAR). The commissioning of the Igdir-Nakhchivan gas pipeline will not only diversify gas supplies to Nakhchivan but also eliminate its dependence on a single source, the Turkish Consul General in NAR, Asip Kaya, told journalists. According to him, the construction of the Igdir-Nakhchivan gas pipeline, which was initiated by the presidents of Azerbaijan and Türkiye on September 25 last year, will be completed shortly.
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The Hungarian company MVM Upstream Private Limited Company, a subsidiary of MVM Group, has opened a branch in Azerbaijan, the State Tax Service under the Ministry of Economy of Azerbaijan reported. The company’s branch was registered on August 30, 2024. The legal representative of the branch is Istvan Nemeth, a Hungarian citizen.
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The Saudi Arabian company ACWA Power has founded a subsidiary in Azerbaijan called ACWA Power Technical Financial Services, the State Tax Service under the Ministry of Economy of Azerbaijan reported.
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The State Oil Fund of Azerbaijan (SOFAZ) has signed a Memorandum of Understanding with “Hassana” Investment Company to explore investment opportunities in Saudi Arabia.
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