Fuel oil, residual news

Ramp-up of multiple FPSOs and 10 new wells drove production gains (3.7% QoQ, 16.1% YoY); operated production 4.65 MMboed. Refining utilization, S10 diesel output and logistics records; LPG imports fell.

Contracted two thermoelectric plants in 3rd LRCAP; combined with prior auction totals nine plants (~2.6 GW firm capacity for SIN, 2026–2031). Estimated annual fixed revenue ≈ R$4.45bn.

The project included a new delayed coking unit and process revamp, overcoming challenges like COVID-19 and geopolitical issues, with key stakeholders attending the completion ceremony.

Greenergy completes acquisition of Armorine, expanding into the French market with plans to leverage combined expertise for growth and enhanced offerings.

EBITDA margin rose to 17.5% despite flat sales. Savings program underway. 2025 sales growth forecast lowered to 1-3%.

The acquisition marks entry into the French market, enhancing growth with traditional and renewable fuels, leveraging logistics and biofuel expertise. Regulatory approval pending.