Construction Of New Refineries In Brazil, Petrobras, Environmental Licenses, GDP, Pre-Salt, Among Other Topics, Were Highlights At The Opening Of Rio Oil & Gas 2022

Environmental Licensing

At the opening ceremony of Rio Oil & Gas, the Minister of Mines and Energy, Adolfo Sachsida, emphasized that what they seek is more responsibility in environmental licensing. For him, it is essential that the response is quicker and more immediate. “I refer to the Equatorial Margin. We have an opportunity as long as it is with social and environmental responsibility,” Sachsida added.

Petrobras Wants to Sell More Refineries

“Petrobras has sold some refineries, and the concentration of Petrobras has dropped from 98% to 89% in the sector. Petrobras will do everything possible to sell the other refineries agreed upon with Cade. Our line is more competition,” he said.

Brazil’s Oil Production Will Help Surpass the World’s Largest GDPs in 2022

Sachsida assured that Brazil’s GDP this year will be greater than that of the US, Germany, and China. And that inflation in Brazil this year will be lower than in the US, the UK, and Germany. For him, Brazil is currently the great port of investment.

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The Focus Is on Pre-Salt

The president of Petrobras, Caio Paes de Andrade, stated at the opening of the fair that Petrobras’s focus is on pre-salt, as this is the highest value asset and one of the largest provinces in the world.
“But, remembering that we are developing new areas like the equatorial margin. And we are always focused on the environment and emission reduction,” pointed out the president of Petrobras.

ESG Agenda and Decarbonization

According to him, the projects are focused on decarbonization with emission reduction. They plan to invest US$ 2.8 billion over the next five years in projects to reduce emissions and will create a fund of US$ 248 million to develop low-carbon solutions.

For Valéria Lima, from the downstream area of the Brazilian Institute of Oil (IBP), the window for energy transition is very short.
“Building a refinery can take five to seven years, and the price amortization can take up to 30 years,” Valéria stated, adding:
“It doesn’t make sense to be self-sufficient. The important thing is to have the correct exchanges with abroad. We did not have supply problems in a complex year like this, with the war in Ukraine and the sale of Petrobras’s assets,” she concluded.

Construction of New Refineries

Rubens Cerqueira Freitas, superintendent of the National Agency of Petroleum (ANP), advocated for the construction of a refinery in the Midwest.
“The demand for S10 diesel will increase, and this advancement occurs in the Midwest. So, we need to bring the fuel closer to the customer. Without this, we will continue to depend on imports,” he said.
“As Petrobras sells its assets, there are more players. It’s important to have refining capacity in line with demand. Several countries abroad have 60 to 90 days of stocks,” Freitas stated.