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Prates’ Statements Highlighted That The Investment Portfolio Recorded A 31% Increase Compared To The Previous Period, With A Projected Duration From 2023 To 2027. These Promising Results Indicate A Positive Scenario For Economic Development In The Coming Years.
We Are Currently Not Conducting Any Evaluation Of Acquisitions Or Investments. We Analyze All Asset Classes And Available Opportunities, But We Will Not Make Hasty Decisions Based Solely On Sales Announcements Made By The Elected President. It Is Important To Be Cautious And Conduct Careful Analyses Before Making Any Decisions Related To Purchases Or Investments.
“We Have Great Confidence That All The Efforts We Have Made So Far, As Well As Any Other Viable Technical Requirements That May Arise, Will Be Met, As We Recognize The Importance Of This Wealth To Be Explored,” Said Joelson Mendes, Executive Director Of Exploration And Production Of The State-Owned Company.
Situation In Argentina
The President Of Petrobras, Jean Paul Prates, Addressed The Situation In Argentina, Where The Newly Elected President, Javier Milei, Announced Plans To Privatize The State-Owned Company YPF. Prates Assesses That The Scenario In The Region “Is Still Quite Uncertain.”
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Petrobras buys 75% of Oranto and becomes the operator of block 3 in São Tomé and Príncipe, resuming its strategy in Africa to diversify its portfolio and replenish oil and gas reserves.
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China inaugurates a new era by signing a $5.1 billion project to expand one of the largest gas fields on the planet, adding 10 billion m³ per year and reinforcing an energy mechanism that already moves 30 billion m³ annually towards its market.
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While the world felt the pinch of rising oil prices, oil companies pocketed at least $23 billion extra from the crisis in Ormuz.
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Oil plummets more than 10% and the market turns upside down after Iran opens Hormuz and eases fears about the main route in the Gulf.
Investment In Oil Exploration In The Equatorial Margin
Equatorial Zone
Of The US$ 102 Billion Planned In The Strategic Plan, US$ 7.5 Billion Will Be Allocated To Prospecting For New Oil Wells In Brazil And Abroad. Petrobras Plans To Invest US$ 3.1 Billion In The Equatorial Margin – A Maritime Area Extending Over 2.2 Kilometers From The Coast, From Amapá To Rio Grande Do Norte.
The State-Owned Company Already Has Permission To Carry Out Initial Activities In Part Of This New Oil Frontier. However, It Is Still Awaiting Authorization From Ibama To Explore Areas Considered Highly Promising.
“The Goal Is To Enter The Fertilizers Sector, As It Is Not Only Essential For Brazil, Due To The Need For Domestic Production, But Also Commercially Viable Within The Context Of The Energy Transition. From There, New Products Will Emerge, Such As Green Ammonia And The Fertilizers Of The Future. It Is Crucial That We Are Present In This Market,” Said Prates.
Additionally, The State-Owned Company Is Seeking A Partnership To Ensure The Continuity Of Operations At The Fertilizer Plants Located In Sergipe And Bahia, Which Are Currently Leased To The Company Unigel. The Intention Is To Maintain The Production Of The Plants Targeted To Meet The Demands Of The Company Itself For A Period Of Up To 1 Year. After This Period, The Intention Is To Seek Other Forms Of Operation, Such As Creating A Joint Venture Or A Merger.
“Evidently, If You Compare Isolated Projects, For Example, A Pre-Salt Well With A Fertilizer Plant, [The Plant] Won’t Have The Same Profitability, But That Doesn’t Mean It Is A Loss To Invest In Fertilizers,” He Explained.
“We Have Decided Not To Sell Refineries Anymore. Instead, We Will Make Significant Investments To Transform Each Of Them Into An Industrial Complex,” Said Prates.
The Petrobras Also Plans To Resume The Production Of Fertilizers. The Company Aims To Restart Operations At Araucária Nitrogenados (Ansa), Located In Paraná And Halted Since 2020, As Well As Complete The Works Of The Nitrogen Fertilizer Unit III (UFN III), Which Have Been Halted Since 2014 In Três Lagoas, Mato Grosso Do Sul. The Expectation Is That Ansa Will Resume Its Operations In The Second Half Of 2024.
Revitalization Plan Of Petrobras And Its Investments
According To Prates, The Revitalization Plan Of Petrobras Ensures Not Only The Present But Also Lays The Foundations For The Company’s Future. He Emphasized That The Five-Year Plan Will Be Reviewed Annually, Offering The Opportunity To Make Adjustments As Necessary.
The Investment Plan Totals US$ 102 Billion, Equivalent To About R$ 500 Million. Compared To The Strategic Performance Of Petrobras In Previous Years, The Guidelines Approved This Week Include The Resumption Of Investments In Refineries.
Currently, It Is Not The Time; We Are Focused On Seeking New Areas For Exploration, Reserve Replacement, And Continuity Of Oil And Gas Operations, But Always With An Eye On The Future. What We Are Planning Includes The Implementation Of Coprocessing In Refineries And The Generation Of Renewable Energy On A Large Scale For The Production Of Green Hydrogen And Other Sustainable Products, Such As Green Methanol And Green Ammonia,” Explained Prates, Referring To More Environmentally Friendly Products.
The Strategic Investment Plan Of Petrobras For The Period From 2024 To 2028 Aims To Generate 1.4 Million Direct And Indirect Jobs, With An Average Of 280,000 New Jobs Per Year. Most Of These Opportunities Will Be Concentrated In The Areas Of Exploration And Production Of Oil.
The Estimate Was Announced By The Company’s President, Jean Paul Prates, In A Press Conference Held On Friday, November 24, In Rio De Janeiro. During The Meeting, Prates Detailed The Strategic Plan That Was Approved By The Company’s Board Of Directors The Day Before, November 23. **This Initiative Demonstrates Petrobras’ Commitment To Job Creation And The Economic Development Of The Country.**
Source: InfoMoney
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