RIO DE JANEIRO, BRAZIL – Petrobras has signed a contract amendment with Açu Petróleo that will enable it to more than double the volume of oil exported through the venture, the private terminal at the Port of Açu said in a statement last Friday.
The amendment, signed in April, provides for the state-owned oil company to ship up to 240 million barrels of oil, or approximately 300,000 barrels per day, through the Port of Açu during the next two years. The contract previously contemplated the export of only 100 million barrels.
Açu Petróleo stressed that since 2019, when Petrobras began operations at the terminal, the Brazilian oil company had twice requested the expansion of the operation volume, driven by growing oil production and export demand.
Accounting for 25% of national oil exports, located in the Northeastern Brazilian state of Rio Grande do Norte, Açu Petróleo serves all operators in Brazil and is working on the terminal’s expansion.
Investment plans include the expansion project with the construction of the Tank Farm and a pipeline connection to the existing network.
Since 2016, the company has conducted more than 270 oil transshipment operations, representing about 260 million barrels handled.