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Petrobras promises to protect the Amazon while exploring new giant pre-salt for up to 13 billion barrels of oil

Written by Alisson Ficher
Published 29/07/2024 às 23:41

Petrobras is at a crossroads: looking for a license to explore oil in the Foz do Amazonas Basin, the energy sector giant proposes a strategy that promises not only economic but also environmental benefits.

What if oil, often seen as a villain, could be the key to combating deforestation and fires in the Amazon? This is the proposal of the state-owned company, which tries to convince the government and society that exploration can, in fact, go hand in hand with environmental protection.

At the center of this discussion is the director of Exploration and Production (E&P) at Petrobras, Sylvia Anjos, who defends an integrated approach. “We can create great synergy between the Ministry of Mines and Energy and the Ministry of the Environment. We need to help combat the biggest problem, which is deforestation and fires. We can reduce Brazil’s emissions enormously,” she said in an interview with epbr.

According to Anjos, Petrobras can use resources from oil production to finance environmental preservation actions, creating a virtuous cycle that could benefit both the economy and the environment.

The search for this license, however, is not a simple process. As pointed out by the president of Petrobras, Magda Chambriard, the issue goes beyond technical aspects.

Since last year, the company has argued that it met all the requirements for the license, but has faced resistance from regulatory bodies, such as Ibama, which has been cautious about the environmental impact in the region.

The recent consultation with Funai and the wait for a response to the request to reconsider the license are just some of the challenges faced by the state-owned company.

The discussion took on new contours after the recent change in Petrobras' management and the assertive stance of President Lula, who declared: “Let's explore.”

This statement reflects political pressure to move forward with the project, which not only promises to open a new exploration frontier in the Equatorial Margin, but also generate significant resources for the country..

However, the initiative is contested by environmentalists, who fear the impacts on local biodiversity and the risks of a possible increase in oil production.

In addition to the environmental debate, Petrobras faces logistical and commercial challenges. In Sergipe, the company made a commitment with the state government to try, again, to hire platforms for exploration in deep waters, after a failed tender.

Petrobras' growth in check

The failure to contract platforms represents an obstacle to the expansion of oil and gas exploration, putting the state-owned company’s short-term growth plans at risk.

On another front, the superintendent of the Energy Research Company (EPE), Marcos Frederico, highlighted the importance of increasing the supply of natural gas to the consumer market. Frederico sees onshore gas as a promising alternative to offering cheap and adequate gas, essential for the competitiveness of the national market.

The issue of taxation was also addressed, with TAG's Commercial and Regulatory Director, Ovídio Quintana, arguing that tax simplification could reduce costs and increase market liquidity.

In the context of private refineries, Márcio Dutra, executive director of Marketing at Noxis Energy, explained that Even facilities focused on fossil fuels can adopt technologies to produce lower carbon-intensive fuels. The company plans to expand its operations with new refineries, focusing on reducing its carbon footprint.

On the other hand, the ANP caused controversy by classifying Comgás' Subida da Serra gas pipeline as a transport gas pipeline, which generated a strong reaction from Arsesp, São Paulo's state regulator.

According to Thiago Mesquita Nunes, CEO of Arsesp, this decision could expropriate an important state asset, generating legal and regulatory uncertainty..

Amid these issues, the Brazilian ceramics industry is also on the move. With the aim of increasing competitiveness, some companies have begun to migrate part of their gas consumption to the free market, a movement that could expand if successful.

The subscription energy market, however, faces regulatory challenges, with the TCU investigating irregular practices and inadequate communication in the sector.

Finally, the issue of coal-fired thermal plants returned to the agenda with the public civil action by the Arayara International Institute against the reconstruction of the Candiota thermoelectric park, in Rio Grande do Sul.

The energy transition is an increasingly relevant topic, especially with Germany's recent approval of a strategy to import hydrogen and its derivatives, which includes the use of natural gas as a bridge to a low-carbon economy..

Will Petrobras actually be able to harmonize oil exploration with environmental protection? Leave your opinion in the comments!

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Alisson Ficher

Journalist graduated in 2017 and working in the field since 2015, with six years of experience in print magazines and over 12 thousand online publications. Specialist in politics, jobs, economics, courses, among other topics. If you have any questions, want to report an error or suggest a topic on the topics covered on the site, please contact us by email: alisson.hficher@outlook.com. We do not accept resumes!

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