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Petrobras' strategic plan for the third Lula government: investments, renewable energy and innovation.

Written by Paulo Nogueira
Published 29/01/2024 às 13:42
company, Braskem, Brent, Local Content, Wind energy, Photovoltaic solar energy, Essequibo, fertilizers, Natural gas, Lula Government, Guyana, naval industry, Itaipu Binacional, Jaspe, Lula, Petrobras, Petrobras strategic plan 2024-2028, price of oil, Abreu e Lima Refinery (Rnest), Refining, concession renewal, TCU, Venezuela, WEG, WTI, XP
President Lula and Jean Paul Prates, CEO of Petrobras, during an event to resume investments at Rnest (Photo: Agência Petrobras) – All rights: EPBR

Petrobras promises investments in renewable energy and modernization of the naval fleet, under pressure from consumers and shareholders.

A Petrobras is one of the largest companies in the energy sector in Brazil, operating mainly in exploration, production, refinement, marketing and transportation of oil and natural gas. Over the years, the Petrobras has become one of the most recognized companies in the country and the world, standing out for its expertise and innovation in the sector.

Recently, the Petrobras has stood out for its plan for the third Lula government and through the partnership with BNDES, which made available $ 2 billion for investments in sustainable vessels, showing the company's commitment to sustainability and the development of the energy sector.

Petrobras begins the first strategic plan of Lula's third term (PT)

This year, Petrobras began implementing the first strategic plan of Lula's (PT) third term under pressure from consumers, shareholders and the Planalto, with the promise of returning to being a vector of development for the country as a guide, shows a special report from epbr agency.

– After a positive year, in which it received approval from the financial market, the company turns to taking its investments of R$ 102 billion foreseen in the 2024-2028 strategic plan.

Focus on investments in Petrobras

  • On the list are the resumption of investments in local content, refinement, natural gas, fertilizers and the acquisition of solar and wind power plants.
  • In the very short term, the focus is on delivery: 'The first year was about planting the land. This is the harvest year and the first leafy tree is the Rnest', said President Lula during the launch event for the refinery works in Ipojuca (PE).

epbr explains:

Oil, investments and energy

Preference in pre-salt. Petrobras manifested to the National Energy Policy Council (CNPE) the interest in the right of preference in the Jaspe block, in the Campos Basin, to be tendered in the permanent offer. The volume in place is 2,5 billion barrels of oil equivalent, according to the ANP.

Oil on the rise. Oil futures contracts rose, this Wednesday (24/1), after a drop of 9 million barrels in US stocks and the announcement of stimulus measures by China's central bank.

– The WTI oil barrel for March closed up 0,96%, at US$75,09. Brent for April rose 0,66%, to US$ 79,63 per barrel.

Sulgás shares gasbol. The piped gas distributor in Rio Grande do Sul will give in for Petrobras, part of the capacity contracted with Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG) in Gasbol.

BNDES Blue. The bank reduced interest rates to modernize the Brazilian naval fleet, with the aim of promoting the production of vessels that use sustainable fuels, with ethanol, green methanol, green ammonia and hydrogen.

- 'We have to build ship again, but ship of the future', said Mercadante. 'Our expectation [in 2024] is, at least, $ 2 billion for shipbuilding'.

Guyana x Venezuela. President Lula prepare to travel to Guyana and participate as a guest at the Caribbean States Community (Caricom) summit, which takes place on February 28th. The bloc is made up of 20 Caribbean countries, 15 of which are member states and 5 associate states.

– The trip is read as a message to Venezuela of Nicolás Maduro, who claims the Essequibo region, in Guyanese territory.

The foreign ministers of Venezuela and Guyana meet this Thursday, to discuss the dispute over territory.

Renewable energy and emissions

Falling emissions. The International Energy Agency (IEA) said that greenhouse gas emissions from electricity generation are entering 'decline' structural' as the replacement of fossil sources with renewables gathers pace.

– Published today, the report Electricity 2024 indicates global emissions of CO2 from generation expected to decrease by more than 2% in 2024, after a 1% increase in 2023. This will be followed by small reductions in 2025 and 2026.

GM bets on electrification. General Motors International (GM) announced that it will invest R$7 billion in Brazil by 2028. The contributions should be allocated to improvements in production capacity and technological development, mainly electric vehicles, renewable energy and pollutant control.

Brazil Offshore Energy Summit. A epbr agency will provide special coverage do Brazil Offshore Wind Summit, the biggest event on wind power offshore do Brasil, on March 26th and 27th, in Rio de Janeiro.

– The meeting is promoted by the Brazilian Association of Wind Energy and new Technologies (ABEEolic) and Global Wind Energy Council (GWEC), with co-production by Dominium Consultoria and will bring everything that is most up to date about the sector.

Renovations and other news

TCU individualizes renewals. The Union Court of Auditors decided to judge individually the renewals of electricity distribution concessions, and did not give prior approval to the government to extend the contracts.

– The legal deadline to sign a term of commitment with the first company to have an expiring contract, EDP Espírito Santo, has already been lost.

  • The Ministry of Mines and Energy said the decision frees the government to continue the renewal process.
  • Abradee, which represents the distributors, considered the decision 'a step forward'.
  • In total, 20 contracts expire between 2025 and 2031 and, together, the distributors serve 56 million customers, around 65% of the market.

Solar in MG. Auren Energia announced, this Wednesday (24/1), the start of operation of the Sol de Jaíba photovoltaic solar plant, in Minas Gerais. The first two modules are in operation, with a capacity of 100,6 MWp.

  • The total investment is estimated at $ 2 billion.

Itaipu has to pay late. The Regional Labor Court (TRT) of the 9th Region ordered the Itaipu hydroelectric plant pay late 13th salary and vacation to Brazilian workers, following a lawsuit filed by the Electrical Workers Union of Foz do Iguaçu (Sinefi).

Weg benefited. XP Investimentos stated in a report released to clients and the market that Weg will be the company most benefited by the government's new industrial policy, which foresees R$300 billion in financing until 2026.

– According to the bank, the company from Santa Catarina will be privileged because it is 'exposed to multiple initiatives [covered by the program], such as industry automation, clean energy and mobility'.

R$6 billion for airlines. The government must announce, in the next ten days, a fund of R$4 billion to R$6 billion to help airlines, said the Minister of Ports and Airports, Silvio Costa Filho.

Source: EPBR

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Paulo Nogueira

An electrical engineer graduated from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), I worked for several years in the areas of offshore oil and gas, energy and construction. Today, with over 8 publications in magazines and online blogs about the energy sector, my focus is to provide real-time information on the Brazilian employment market, macro and micro economics and entrepreneurship. For questions, suggestions and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes for this purpose.

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