Vast Infraestrutura, a Prumo Group company, and Spain’s Repsol, which operates in exploration and production (E&P) projects in Brazil, have signed a contract to carry out double banking operations at Vast’s oil terminal (T-Oil) in the Port of Açu, in São João da Barra (RJ).
The agreement will make it possible to export Repsol’s crude oil production using Suezmax and VLCC (Very Large Crude Carrier) vessels, as well as expanding opportunities for trading operations.
“Today Brazil exports around 1.8 million barrels of crude oil a day, a volume that is expected to reach more than 3 million by the 2030s. T-Oil is already responsible for a large portion of this export, offering the best infrastructure and logistical solutions for moving liquids in the country, in a safe, efficient and sustainable way,” says Victor Snabaitis Bomfim, CEO of Vast.
With the new agreement, Vast now has 11 oil and gas operators in Brazil as clients: BW Energy, CNOOC, Equinor, Galp, Petrobras, PetroChina, Petronas, PRIO, Repsol, Shell and TotalEnergies. The growth in the company’s client portfolio reinforces Açu’s potential to serve as a marketplace, offering the possibility for clients to combine cargo for export, increasing the efficiency of their operations.
According to data from the National Waterway Transport Agency (Antaq), in the first half of 2024 T-Oil was responsible for 50.2% of all handling at terminals that export oil in Brazil and remained in first place in the crude oil export market, with 13.6 million tons handled.
In addition, the terminal came second in the crude oil handling market, with 27.1 million tons handled. Vast was also responsible for 68% of all cargo handled at the Port of Açu, the third busiest port in the country during the period.
Vast owns the only private oil transshipment terminal in Brazil with the capacity to operate VLCC-class ships. T-Oil is in a privileged location, close to the main oil-producing fields in the Campos and Santos basins, and licensed to handle up to 1.2 million barrels of oil per day.
