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Petrobras Is Studying The Possibility Of Investing In Energy Transition Projects And Is In Talks With Other Companies Abroad, Mainly Oil Companies, According To The Executive Director Of Energy Transition And Sustainability, Maurício Tolmasquim.
This strategy is part of the new management of the company, which seeks to reduce exposure to the oil and gas sector. These projects will be approved according to the next business plan of Petrobras for 2024-2028, which will be available at the end of the year.
Tolmasquim noted that the company has already begun discussions, mainly in renewable energy, such as the partnership study between Petrobras and Norwegian Equinor for an offshore wind farm in Brazil.
The executive director pointed out that investing in projects abroad would be “a way to quickly place some ventures” in its portfolio in sectors that are not yet regulated in Brazil, such as the offshore wind segment, while allowing the company to gain experience in advanced areas in other countries.
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Petrobras Has Started Talks With Companies Abroad, But There Is Still “Nothing Concrete,” Tolmasquim Pointed Out.
Additionally, the company is also exploring other types of projects, such as hydrogen and carbon storage. The company is also studying investments in power generation, in projects that the company could implement more quickly. According to Tolmasquim, these could be projects for the sale of energy through auctions or negotiation in the free market.
However, the oil company stated that its priority remains the oil and gas sector. The executive emphasized that investments in energy transition still yield lower returns compared to oil, but will be made to keep the company attractive and reduce risks in the future.
“It reduces risk, it’s not putting all the eggs in one basket. Diversifying the portfolio is essential for us to face periods in the future when the price of oil will be lower,” added Tolmasquim during his presentation at the Argus Rio Crude Conference, in Rio de Janeiro.
Petrobras is one of the world’s leading oil and gas companies and is responsible for a large part of oil production and export in Brazil. Its investments in energy transition are an important shift for the company and a signal that the energy sector is moving towards investment diversification, even in the oil and gas sector.
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