By Brazil Stock Guide – Petrobras (PBR) has signed an agreement to supply renewable-content marine fuel to Norway-based shipping company Odfjell SE (ODF.OL), reinforcing the Brazilian oil major’s push to expand internationally in low-carbon fuels for the maritime sector.
The deal covers the sale of VLS B24, a very low sulfur fuel oil blended with renewable content, as shipowners face tighter environmental rules and rising demand for cleaner fuels. The product combines 24% biodiesel with 76% mineral oil produced at Petrobras refineries and is designed to meet European regulatory requirements.
The fuel is certified under the International Sustainability and Carbon Certification system for the European Union, which tracks sustainability criteria and greenhouse-gas reductions across the biofuel supply chain. It also complies with FuelEU Maritime rules, a European Union regulation that mandates a gradual reduction in the emissions intensity of fuels used by vessels calling at EU ports.
“The commercialization of VLS B24 with a company that has strong international operations demonstrates Petrobras’ consistent progress toward a low-carbon market, in line with our 2026–2030 Business Plan,” said Claudio Schlosser, Petrobras’ director of logistics, commercialization and markets. “The initiative generates value for the business while enabling concrete solutions in new energies and decarbonization.”
Fuel supply will be carried out using dedicated barges operating from the Rio Grande terminal in southern Brazil, where blending will also take place. The contract foresees deliveries of up to 12,000 metric tons of the renewable bunker fuel throughout 2026.
Odfjell operates more than 70 vessels worldwide, transporting chemicals and bulk liquids across routes linking the Americas, Europe and Asia. The company moves roughly 600 different liquid products, ranging from chemicals and acids to edible oils and refined petroleum products, and maintains offices in strategic locations, including São Paulo, to support its South American operations.
The agreement builds on a long-standing relationship between Petrobras and Odfjell and follows closer cooperation between the Brazilian and Norwegian governments on sustainable energy solutions. In February 2025, the two countries formalized a green shipping corridor through a memorandum of understanding aimed at encouraging the use of low-carbon fuels in maritime transport.
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