Petrobras plans to sell 27.5 million liters of ethanol in September

With two auctions already completed, the company intends to clear its inventory by the end of the year.

Petrobras, one of the largest oil companies in the world, besides operating in the production and sale of fuels, also offers services to transport them through Transpetro. Due to the way the transportation is made, the company ended up accumulating a stock of ethanol and received an exceptional authorization from the National Agency of Oil, Natural Gas and Biofuels (ANP) to market it.

In total, 80.09 million liters of ethanol are stored in Rio de Janeiro, Sao Paulo, Paraná, Santa Catarina, Bahia and Minas Gerais. Of these, more than half – 53.25 million liters – is allocated in the state of São Paulo.

The accumulation of ethanol “deriving from the degradation of the movement interface between gasoline and third-party ethanol in the pipelines operated by Petrobras Transporte”, according to ANP’s technical note, is disrupting the company’s logistics system.

To address the issue, the company has already launched four auction notices aimed at selling the accumulated millions of liters in its stocks. The first two had their disputes in August, on the 15th and 19th, and, according to Petrobras gasoline marketing manager, Bernardo Noronha Lemos, “were done and the process is going well.”

However, Petrobras did not disclose information about the winners and final selling prices.

The bidding documents for the next two auctions have been released and they are scheduled to take place on 9 and 24 September. When added to the first two, the volume of ethanol traded corresponds to more than 48 million liters.

Even without giving more information, the manager ensures that the prospect is that Petrobras will hold all necessary auctions to clear the inventory by the end of the year.

Check out the full version for more information about Petrobras’ upcoming ethanol auctions, such as lots, minimum prices and inventory locations.