Petrobras Plans Investments in Energy Transition Abroad

Written by Bruno Teles

Published on 17/05/2023 at 15:33

FOTO: transição energética

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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.

Petrobras Plans Investments in Energy Transition Abroad

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.

Petrobras Has Started Talks With Companies Abroad, But There Is Still “Nothing Concrete,” Tolmasquim Pointed Out.

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Petrobras Plans Investments in Energy Transition Abroad

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.

Petrobras Has Started Talks With Companies Abroad, But There Is Still “Nothing Concrete,” Tolmasquim Pointed Out.

Seven world powers including the US, China, and Russia are spending €22 billion on a reactor in the south of France that aims to confine plasma at 150 million degrees Celsius, ten times the temperature of the Sun’s core, using a magnetic field capable of lifting an entire aircraft carrier.

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While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

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Home-built airplane by a Minas Gerais engineer uses car parts, such as a power window motor for the flaps and a tachometer on the dashboard. The project took six years, and the aircraft has autonomy to fly up to seven hours non-stop.