PPSA – 14th October 2024
Pré-Sal Petróleo (PPSA) will open a spot sale process on 30th October to market five oil cargoes from the Sépia field. The sale will be divided into two lots: the first with a cargo of 500,000 barrels, scheduled for loading in December 2024, and the second estimated at 2 million barrels, with loading expected between January and April next year.
All companies currently operating in the pre-salt area, as well as PRIO and the Mataripe Refinery, will be invited to participate. This model has been adopted for spot cargo sales, and the offered prices will be referenced to dated Brent.
This is the fourth time this year that PPSA has marketed spot oil cargoes on behalf of the Federal Government. In February, 500,000 barrels from the Sépia field were sold to CNOOC, and in March, 500,000 barrels from the Atapu field were sold to the Mataripe Refinery. The most recent spot sale took place in September, when the company marketed three oil cargoes from the Federal Government’s Sépia, Atapu, and Itapu fields, totalling 1.5 million barrels. Petrobras, Galp, and the Mataripe Refinery were the winning bidders.
In July, PPSA held the 4th Federal Government’s Oil Auction, offering 37.5 million barrels of oil from the Mero and Búzios fields.
Commitment to Transparency
PPSA will publish the sale price on the company’s website 15 days after the cargoes are shipped.
Source: PPSA / BR8
