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Petrobras Investments: Impacts and Plans of the State-Owned Company in the Oil and Natural Gas Sector

Escrito por Bruno Teles
Publicado em 24/04/2023 às 16:12
Investimentos da Petrobras
Investimentos da Petrobras (foto/divulgação)
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Petrobras Is The Largest Company In The Oil And Natural Gas Sector In Brazil And One Of The Largest In The World. Its Operations Are Broad, Covering Everything From Exploration To The Marketing Of The Final Product.

With this, the company has a large portfolio of investment projects in various business areas. Recently, the company informed the Ministry of Mines and Energy about the ongoing investments in its portfolio, to support the preparation of the new Growth Acceleration Program.

Additionally, Petrobras also announced the expansion and modernization of units at the Abreu e Lima Refinery and indicated new names for the Transpetro board.

Ongoing Investments from Petrobras

Petrobras informed the Ministry of Mines and Energy about the current capital investment project portfolio in the implementation phase, from the business segments of Exploration and Production E&P, Refining, Transportation and Marketing – RTC, Gas and Energy – G&E and Renewables.

According to the state-owned company, investment projects that have an impact on image, reputation, and future vision, such as exploratory projects in the Equatorial Margin or biorefining, even if in the planning phase, were also included in the information provided.

All projects are outlined in the Strategic Plan 2023-2027 (PE 2023-27), released to the market in November 2022. Petrobras highlighted the modification of the startup of three FPSOs: Búzios 7, Integrated Parque das Baleias (IPB) and Búzios 10.

Despite the modifications in the operational startup forecasts, the company stated that no impacts are expected on its disclosed oil and natural gas production targets.

Investments in The Abreu e Lima Refinery

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via BM&C NEWS

Petrobras also signed a contract for expansion and modernization of units already in operation at the Abreu e Lima Refinery (RNEST), in Pernambuco. The units involved are atmospheric distillation, delayed coking, and auxiliary units.

After the completion of the works, expected for the fourth quarter of 2024, the refinery will see an increase in the total processing capacity of Train 1: from the current 115 thousand barrels of oil per day (bpd) to 130 thousand bpd, as provided for in the Strategic Plan 2023-2027.

The modernization of these units is strategic for Petrobras and for the country, as it will enable an increase in the supply of diesel to the Brazilian market starting in 2025.

Indications for the Transpetro Board

The executive board of Petrobras approved the nominations of Sergio Hermes Martello Bacci and Fernando Mascarenhas Cavalcanti de Barros to occupy the positions of president and financial director of its subsidiary Petrobras Transporte S.A (Transpetro), respectively.

The name of Jones Alexandre Barros Soares was also confirmed for the position of director of Maritime Transportation, Pipelines, and Terminals at Transpetro. The nominations are subject to election by the Board of Directors of Transpetro, which will take place next Thursday (27).

Impacts of Petrobras Investments

Petrobras investments have a significant impact on the Brazilian economy, especially those related to oil and natural gas production. According to experts, with the expansion of the Abreu e Lima Refinery units, an increase in the supply of diesel in the national market is expected starting in 2025.

Petrobras is one of the largest Brazilian companies in terms of generating direct and indirect jobs. With new investments in projects aimed at exploring new oil and natural gas fields, an increase in demand for qualified labor in various areas is expected.

On the other hand, investments in new technologies and exploratory projects carry high costs, which can affect the financial results of the company in the short term. However, in the long term, the expectation is for increased profitability and the productive capacity of Petrobras.

Bruno Teles

Falo sobre tecnologia, inovação, petróleo e gás. Atualizo diariamente sobre oportunidades no mercado brasileiro. Com mais de 7.000 artigos publicados nos sites CPG, Naval Porto Estaleiro, Mineração Brasil e Obras Construção Civil. Sugestão de pauta? Manda no brunotelesredator@gmail.com

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