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The Next Five Years Will Bring the Disclosure of State Investments on Friday (11/24).
The Mattos Filho firm is recognized as one of the leading law firms in Brazil, with a diverse practice across various areas of law, serving a wide range of clients, including national and international companies, financial institutions, investors, start-ups, and individual entrepreneurs. The firm has stood out for the excellence of its services and its commitment to ethics, innovation, and social responsibility.
Next Friday (24) marks the launch of the much-anticipated Strategic Plan of Petrobras, bringing crucial insights about the company’s future. This plan will be a fundamental guide to understanding the directions and goals that Petrobras intends to achieve, along with the challenges it will face along the way.
Ibama Plans to Assess Licensing of the Foz do Amazonas Basin in 2024
The Brazilian Institute of Environment and Renewable Natural Resources (Ibama) announced that it will analyze the environmental licensing process for oil exploration in the Foz do Amazonas Basin by 2024.
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A Canadian study detects record methane emissions and reveals that abandoned oil wells pollute up to 1,000 times more than expected.
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Foresea announces winners of the 3rd supplier award highlighting performance, technology, and sustainability in the oil and gas sector in Macaé.
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The 12% export tax on Brazilian oil reignites the debate on regulatory risk, competitiveness, and impact on the trade balance.
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Rio could lose up to R$ 21 billion per year due to the STF’s decision on oil royalties, and the impact could affect the economy, tourism, and services.
Pré-Sal Petróleo S.A. (PPSA) is committed to finding new interested parties for the acquisition of natural gas produced in the Brazilian pre-salt, aiming to expand the market and attract investments to the energy sector.
Large companies like Vale and Petrobras have the potential to drive the search and use of green hydrogen in Brazil, contributing to the development of renewable and sustainable energy sources in the country.
According to estimates released by Valor, market analysts project that Petrobras investments for the period from 2024 to 2028 could reach up to US$ 105 billion. Projections vary, with Ativa Investimentos predicting an amount of US$ 86 billion, while UBS BB estimates a higher value. Meanwhile, Goldman Sachs and Itaú BBA project an investment of US$ 90 billion.
Analysts also foresee a minimum increase of US$ 8 billion (R$ 39.2 billion) compared to the current plan of Petrobras, which forecasts investments of US$ 78 billion for the period from 2023 to 2027. This increase for value correction indicates the expectation of significant growth in the company’s investments in the coming years.
Increase in Investments and Expansion of Projects
The president is seeking to increase the percentage allocated to low-carbon projects from 6% to up to 15%. In addition, an increase in investments in refineries, the expansion of existing plants, biorefining, and fertilizer factories is also planned.
Lula expressed his desire to avoid conflicts, calling for an end to public divergences during a meeting at the Planalto to discuss the strategic plan of Petrobras. These divergences were recently mentioned by CNN.
Deputy Prates was called upon to comply with the law and respond to questions regarding the reduction of fuel prices, appearing dissatisfied with the delay in taking effective measures. Sources indicate that he wants the state-owned company to increase the local content of its projects, in addition to requesting an immediate reduction in prices.
The president of Ibama, Rodrigo Agostinho, announced that the decision on the environmental license for the project in Foz do Iguaçu will be postponed to 2024, denying the request and creating a new obstacle for project authorization.
The meeting of the oil producers of OPEC+ was postponed from November 26 to November 30, creating uncertainty regarding the global oil supply and resulting in a drop in oil prices. Brent futures closed down 0.59% at US$ 81.96, and WTI fell 0.86% to US$ 77.10/barrel.
The Minister of Foreign Affairs, Celso Amorim, traveled to Venezuela amid concerns from the Brazilian government regarding the country’s territorial conflict with Guyana.
The new CEO of YPF, Horacio Marin, who is also president of Exploration and Production at Tecpetrol, an oil and gas company of the Techint Group, was announced by the Venezuelan press, heightening tensions with Guyana. Meanwhile, specialist Fabio Florentino addresses the impact of tax fraud on Brazil’s fuel market, highlighting that the tax complexity allows illicit practices that distort consumer prices, despite the monofasia of ICMS having helped combat evasion.
Discussion on the Opening of the Natural Gas Market and Contract Models
On May 28, Carolina Bunting, responsible for New Business at Shell Energy, and Makyo Félix, manager of Gas Supply and Market at Bahiagás, will participate in a discussion about the opening of the natural gas market and the contract options currently available. The event is scheduled for 2 PM and promises to bring valuable insights on the current gas market landscape in Brazil.
Register to join and receive all the information about the event!
PPSA is Seeking New Buyers for selling the portion of natural gas owned by the Union in sharing contracts to other companies besides Petrobras, through the Integrated Processing System (SIP), expected to start in 2024.
The 6th Technical Forum of PPSA in Rio de Janeiro is an opportunity to learn more about this important process. Check all the information
A strategic action is being taken to boost the gas market, through connecting supply and demand via long-term auctions. Additionally, this initiative aims to stimulate new investments in gas infrastructure, according to industry experts.
According to the CEO of Gas Energy, Rivaldo Moreira Neto, PPSA can play a key role in this process, as highlighted during the panel “Paths for the Gas Market” at the 6th Technical Forum of PPSA. To learn more, access the full content.
The National Energy Policy Council (CNPE) will be presented with 11 blocks with potential of 1.73 billion to 3.69 billion barrels of oil in place for consideration in future permanent sharing offer cycles of the National Petroleum Agency (ANP).
The Exploration and Production director of the Ministry emphasized that these areas have great interest, especially considering the discoveries made both in the pre-salt and in other regions since 2018. This presentation took place during the panel “The Attractiveness of the Pre-Salt” at the 6th Technical Forum of Pré-Sal Petróleo.
ANP Considers Regulatory Study for Carbon Capture
The National Agency of Petroleum, Natural Gas and Biofuels (ANP) discussed at its board meeting a project for regulatory studies for carbon capture, utilization, and storage (CCUS) that will be conducted in Brazil. The objective is to learn from international experiences and accelerate regulatory processes to implement these industries in the country.
The CEOs of the companies stated that the demand for hydrogen is assured. The mining company is the largest energy consumer in the country and the oil company is the largest producer and consumer of fossil hydrogen, showing the importance of this resource for both sectors.
– Eduardo Bartolomeo, president of Vale, highlighted the possibility of ensuring demand through the production of green steel and biofuels, which underscores the commitment to the energy transition.
- Recall: Will Green Hydrogen Replace Natural Gas?
The former minister Mercadante emphasized the need for Brazil to invest in electrifying its bus fleet as a way to boost the development of the national industry. He stressed that migrating to electric buses is crucial to not lose ground in this market and for the country’s history.
According to CapitalReset, the implementation of electric buses is essential to decarbonize activities in the country’s Refinery, positively contributing to the environment.
The pioneering large-scale contract in the shipping industry for the acquisition of green methanol starting in 2026 also represents a significant advancement towards decarbonizing industrial activities on a large scale, as reported.
An agreement has been established for the supply of 500 thousand tons of fuel based on renewable hydrogen, intended to fuel the first 12 large vessels of Maersk that are qualified for the use of methanol.
Federalization of Cemig
Cemig agreed to the proposal of the Senate president, Rodrigo Pacheco, to federalize state companies as a way to settle public debt with the Union. The company expressed support for this initiative.
After the proposal to deliver shares of Cemig as payment for debts, the market reacted negatively, leading Cemig PN (CMIG4) shares to fall 9.71% and reach R$ 11.35, the lowest price since April 6.
The idea of delivering shares of the company as a form of debt payment was presented to President Lula as an alternative to avoid the Fiscal Recovery Regime.
Source: EPBR Agency
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