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Vale Signs Biofuel Bunker Deal with Petrobras
Mining firm Vale has signed a biofuel bunker deal with Brazilian energy company Petrobras.
Vale's new strategic alliance agreement with Petrobras includes plans to test and potentially commercialise the use of bunker blends containing 24% biofuel, the mining company said in a statement on its website this week.
Brazil is a significant producer of biodiesel.
"We are very happy to announce this broad partnership with Petrobras, which brings benefits to both companies and creates value for Brazil," Gustavo Pimenta, president of Vale, said in the statement.
"The agreement reinforces Vale's commitment to promoting the decarbonization of its operations and offering solutions to reduce its customers' emissions, thus taking advantage of Brazil's competitive edge in renewable fuels."
