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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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.

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An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

Seen from space, an image taken by an astronaut shows in Argentine Patagonia the exact point where a colossal glacier, a turquoise-blue lake, and a greenish arm of water meet, creating one of the rarest and most impressive landscapes in the region.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

India has connected for the first time a nuclear reactor that generates more fuel than it consumes — it produces 500 MW, cost nearly $1 billion, took 22 years, and places the country among the few with this technology in the world.

Suape Port is receiving R$ 15.8 billion to become the largest green hydrogen hub in Latin America — and a partnership with China promises an additional R$ 8 billion.

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India has connected for the first time a nuclear reactor that generates more fuel than it consumes — it produces 500 MW, cost nearly $1 billion, took 22 years, and places the country among the few with this technology in the world.

Suape Port is receiving R$ 15.8 billion to become the largest green hydrogen hub in Latin America — and a partnership with China promises an additional R$ 8 billion.

Petrobras robots dove nearly 3,000 meters deep and 201 km off the coast of Rio de Janeiro confirmed what geologists suspected — there is more oil hidden in the pre-salt of Campos.