Brazil Will Be Among The Top 5 Oil Exporters In The World By 2030, According To Bento Albuquerque, Minister Of Mines And Energy

Bento Albuquerque, Minister of Mines and Energy, Reaffirmed Yesterday (11) That the Country Will Become the Fifth Largest Oil Exporter and Will Produce About 5.3 Million Barrels

Yesterday, Tuesday (05/11), during the public hearing of the Commission of Mines and Energy of the Chamber, Minister Bento Albuquerque reiterated that by 2030 Brazil will be among the five largest oil exporters in the world. The Minister of MME also emphasized that Brazil is currently the 7th largest in terms of global production and export, and also stated that when it becomes the 5th largest exporter of the fossil fuel, it will produce about 5.3 million barrels per day.

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The Minister of MME also reported that oil exports injected about R$ 100 billion into Brazil last year (2020). Bento Albuquerque further emphasized that today Brazil is the fourth largest automotive fuel market, surpassed by India last year, which took third place.

In Addition to Oil, Minister of MME Mentions the Mining Sector

Bento also highlighted mining, which he stated surpassed soy in exports in the first quarter of this year compared to the same period last year. According to the Minister of MME, there was an increase of about 15% in iron ore production during this period.

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According to the Minister, iron ore accounts for 17% of Brazil’s trade balance and informed that, as a consequence of the increase in iron ore prices, the segment had a revenue increase of 95%.

Ministry of Mines and Energy Says the Country Will Have Many Investments in Oil, Gas, Biofuels, and Electric Sectors by 2030

During an interview for the channel TV Brasil, on the program “Brasil em Pauta”, the Minister of MME stated that Brazil will have major investments to be made in the energy sector, namely in the gas, oil, biofuels, and electric segments. Bento Albuquerque also stated that these mentioned sectors will receive billions per year until 2030.

The Minister of MME also emphasized that the energy sector will be the primary target for investments annually throughout the decade. The investments in the energy sector could easily exceed R$ 3 trillion by 2030, generating jobs and increasing competitiveness in the gas, oil, biofuels, and electric sectors.

He stated: “The largest investment made in the country has been in the energy sector, whether in oil, gas, and biofuels, or in the electric sector. These are billion-dollar investments – in the next ten years, we should have investments on the order of R$ 3 trillion, and this has been happening year after year.”

The Minister of MME also highlighted that this level of investment in the energy sector occurs because Brazil has some very important factors for investors, such as legal security and diversity of energy sources. Bento also emphasized that only this year there will be six auctions held in gas, oil, and the electric sector.