PX Energy

Name

PX Energy

Legal name

Paraná Xisto S.A.

Website

https://pxenergy.com.br

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Shale Oil Refining and Energy Products

NAICS

Crude Petroleum Extraction (211120), Natural Gas Extraction (21113), Petroleum and Coal Products Manufacturing (3241)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Unconventional Gas E&P (Shale/Tight Gas) (EUAAAAAC)

Keywords

• Shale oil production
• Pyrolysis refining
• Industrial fuel oils
• Sulfur production
• Oil shale mining

Headquarters

HQ city

Curitiba

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Shale Oil (OTE/OTL) Sales: Primary revenue from sale of shale oil products classified as OC A1/B1 by ANP. OTE and OTL are industrial fuel oils with high calorific value, sold to manufacturing facilities. OTL is particularly suited for applications where diesel would typically be used.
2. Natural Gas and LPG Sales: Shale gas, similar to natural gas, is supplied via pipeline to ceramic industry customers. LPG (Gás Liquefeito de Petróleo) is sold to distributors for industrial use or domestic bottling.
3. Naphtha Sales: Naphtha is sold to refineries for processing into fuels or for manufacturing plastics, solvents, rubbers, and other chemicals after reprocessing.
4. Sulfur and Agricultural Products: High-purity sulfur sold for fertilizer manufacturing, rubber production, and sugar and cellulose industries. Agricultural products include shale water for liquid fertilizer formulations, limestone, shale fines, and retorted shale for agricultural applications.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

PX Energy operates the only integrated shale oil extraction and refining facility in Brazil at São Mateus do Sul, Paraná. Using proprietary Petrosix pyrolysis technology, the company mines oil shale and transforms it into industrial fuel oils (OTE, OTL), pipeline-delivered shale gas, LPG, naphtha for refineries, high-purity sulfur, and agricultural inputs (shale water, limestone, shale fines, retorted shale). The portfolio serves industrial manufacturers, ceramic producers, refineries, distributors, and the agricultural sector.

Product overview

PX Energy operates an integrated shale oil extraction and refining facility in São Mateus do Sul, Paraná, Brazil. The company produces a diversified portfolio of energy, industrial, and agricultural products from oil shale (folhelho pirobetuminoso) via pyrolysis: energy products (OTE, OTL, shale gas, LPG), industrial feedstock (naphtha, sulfur), and agricultural inputs (shale water, limestone, shale fines). The Petrosix technology enables continuous production with full supply chain from mining to final processing.

Differentiator

Problem solved

Functional benefit

Products and services

• OTE (Óleo de Xisto) OTE (Shale Oil) is an industrial fuel oil classified by ANP as OC A1/B1, produced from shale pyrolysis. It offers high fluidity at ambient temperature eliminating the need for pre-heating, has low sulfur content reducing acidic gas emissions, and is sold to manufacturing facilities for boilers, furnaces, and other thermal processes.
• OTL (Óleo de Xisto Leve) OTL (Light Shale Oil) is a high-fluidity shale derivative applicable where diesel is typically used as fuel. It provides diesel-equivalent performance with the operational simplicity of room-temperature handling for industrial thermal applications.
• Gás de Xisto Gás de Xisto (Shale Gas) is similar to natural gas and is delivered via pipeline to ceramic industry customers, used as a low-emission fuel gas for industrial operations such as ceramic kilns.
• GLP (Gás Liquefeito de Petróleo) GLP (Liquefied Petroleum Gas) is produced from shale processing and sold to regional distributors for onward industrial use or domestic bottling.
• Nafta Nafta (Naphtha) is a shale-derived feedstock sold to refineries for processing into fuels, or for manufacturing plastic resins, solvents, rubbers, and other chemicals after reprocessing.
• Enxofre Enxofre (Sulfur) is a high-quality, high-purity byproduct of shale processing used in fertilizer manufacturing, rubber production, detergents, and the sugar and cellulose industries.
• Água de Xisto Água de Xisto (Shale Water) is a byproduct of shale processing with properties suitable as a raw material for liquid fertilizer and phytoprotectant formulations for foliar application on different crops.
• Calcário de Xisto Calcário de Xisto (Shale Limestone) is a byproduct of shale mining that is combined with other materials to compose agricultural fertilizers. Commercialization is subject to prior consultation with the commercial team.
• Finos de Xisto Finos de Xisto (Shale Fines) are fine byproducts from shale mining used in combination with other raw materials for agricultural fertilizer production.
• Xisto Retortado Xisto Retortado (Retorted Shale) is the byproduct of the pyrolysis process, returned to the mine pit rather than stored as waste and combined with other materials for agricultural fertilizer applications.

Quantifiable outcome

• Shale oil remains fluid at room temperature without heating requirements
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• NimofastminorStrategic or Co-development PartnerJoint venture plans with Nimofast in Brazil as part of Questerre's international growth strategy, announced in Q3 2025 results.
• SESI (Serviço Social da Indústria)minorStrategic or Co-development PartnerPartnership with SESI to bring Circuit Cultural program to São Mateus do Sul, providing cultural performances for schools and community.
• SoftExpertcoreTechnology or IntegrationSoftExpert provides the SE Suite platform supporting process management, compliance, and corporate performance at PX Energy. Implementation includes modules for deviation registration based on Bird's Pyramid, digital transformation of internal processes, and complete management system restructuring.
• SeidorcoreTechnology or IntegrationSeidor provided fiscal software (4Tax suite integrated with SAP) enabling digital transformation of tax processes, standardization of procedures, and robust control of fiscal obligations.
• ENAEXcoreTechnology or IntegrationENAEX provides the Daveytronic wireless detonation system for mining operations, enabling 100% wireless electronic detonation with remote activation up to 5km distance and dual safety verification.
• Itaipu BinacionalminorStrategic or Co-development PartnerCo-organized ODS in Practice seminar on Agenda 2030 for Territorial Transformation with Itaipu Parquetec in São Mateus do Sul.
• Emboé ConsultoriaminorImplementation/ SI/ Consulting PartnerConsultants Bernardo Mudjalieb and Jéssica Galdino conducted intensive training on methodology and project development for Social Energy program entrepreneurs.
• Sindipetro PR e SCcoreOthersCollective labor agreement (ACT) negotiations conducted annually between PX Energy and the oil and gas workers union for Paraná and Santa Catarina states.

Scale indicators6 records

Recent moves2 records

Others

• Enaex: Chilean-based global mining services and blasting solutions provider, supplier of the Daveytronic wireless detonation system deployed at PXE's operations. Comparable as a technology and services supplier serving PXE's mining and blasting workflows.
• Halliburton: Global oilfield services and equipment company serving upstream unconventional producers with drilling, completion, and production technologies. Comparable as an enabling ecosystem supplier rather than a direct competitor in shale extraction.
• SLB (Schlumberger): Global oilfield services provider offering upstream technologies and reservoir solutions to unconventional operators. Comparable as an ecosystem participant (technology vendor, not direct competitor) supplying the kind of subsurface and process capabilities relevant to shale operations.

Broad incumbents

• Shell plc: Global integrated energy major with extensive unconventional resource (shale/tight oil and gas) operations globally and a growing chemicals/feedstock portfolio. Comparable as a broad incumbent with overlapping capabilities in petroleum refining, gas processing, and sulfur/petrochemical co-products.
• Petrobras: Brazilian national oil major and historical operator of the São Mateus do Sul shale complex that eventually became PXE. Comparable as the upstream/industrial incumbent in the same Brazilian energy ecosystem with prior oil shale know-how.
• Questerre Energy Corporation: Canadian-listed energy company that acquired 100% of PXE in 2025 to advance oil shale resource development, notably in Jordan. Shares the unconventional shale thesis and serves as PXE's parent with overlapping technological and project interests.

Regional players

• YPF: Argentina's state oil company with integrated upstream, refining, and petrochemical operations. Comparable as a South American regional peer with diversified hydrocarbon outputs serving industrial and fuel markets.
• Galp Energia: Portuguese energy group with significant upstream and refining operations in Brazil. Comparable as a regional integrated oil and gas peer selling refined products and feedstock to industrial buyers in the same Latin American markets.

Direct peers

• Viru Keemia Grupp (VKG): Estonian private oil shale processor that retorts oil shale into shale oil and chemical co-products. Comparable to PXE as a shale-to-multiple-products operator using pyrolysis-derived chemistry for industrial buyers.
• Enefit: Estonian state-linked energy group and one of the world's largest oil shale operators, extracting and processing oil shale into shale oil, electricity, and chemicals via thermal retorting. Closest analog to PXE given end-to-end mining-to-refining model over a single unconventional feedstock.

Market position

Strengths5 records

Weaknesses5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInbr.linkedin.com/company/pxenergy
• Instagraminstagram.com/pxenergy

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PX Energy