Repsol SA, one of Spain’s leading oil companies, has entered into a new partnership to facilitate its crude oil shipments through Brazil’s growing energy infrastructure. The agreement allows Repsol to conduct oil transshipment operations at the Porto do Acu terminal, managed by Vast Infraestrutura, a subsidiary of EIG Global Energy Partners, in southeast Brazil.
The port, located in Rio de Janeiro state, is strategically positioned near Brazil’s primary offshore oil basins. It currently handles a significant portion of the country’s oil exports, making it an essential hub for crude shipments from Latin America’s largest oil producer. With Brazil’s oil output on the rise, Vast Infraestrutura is well-placed to accommodate increased export activity.
Brazil is on track to significantly boost its oil exports, with projections indicating that daily exports will surge from the current 1.8 million barrels to nearly 3 million barrels by 2030. This increase stems from the nation’s expanding production capacity, but Brazil’s limited domestic refining infrastructure requires much of the excess crude to be shipped abroad. Other terminals in the region are already operating at full capacity, positioning Porto do Acu as a critical player in meeting future demand for export operations.
Victor Bomfim, the head of Vast Infraestrutura, highlighted the port’s unique position, stating, “We are currently the only terminal with the capability to expand operations in response to rising oil output.” This growth further emphasizes Brazil’s emerging role in the global oil market, especially as its increased production challenges OPEC+ efforts to regulate supply.
Repsol’s deal marks its entry as the eleventh client of Vast, joining major players such as Petroleo Brasileiro SA (Petrobras), Shell Plc, TotalEnergies SE, and Equinor ASA, all of which are actively involved in transshipment at the port.
This partnership underscores Brazil’s rising prominence as a global energy supplier and the vital role of its infrastructure in facilitating international oil trade.
