Rio de Janeiro Has Strong Potential in Energy Transition and Stands Out in Low-Carbon Oil Production, Says Firjan

Firjan Released the 2022 Oil Yearbook and Pointed Out a Series of Future Projections for the Oil and Natural Gas Market in Rio de Janeiro, Reinforcing Its Prominent Position in the Energy Transition Due to Low-Carbon Oil Production.

Last Thursday, (11/08), the Federation of Industries of the State of Rio de Janeiro (Firjan) launched the 2022 oil yearbook and emphasized that the state’s experience in providing goods and services can ensure strong growth in the oil sector. In addition, for the first time, there was a section focused on energy transition in the country, which reinforced the state’s potential in the sustainability sector due to low-carbon oil production.

Energy Transition Industry Can Be Strongly Benefited by Goods and Services from Rio de Janeiro, Says Firjan Report

Compared to the global energy market, Firjan highlights the experience in the Rio de Janeiro region in providing goods, services, and equipment for the maritime oil industry and the lower carbon footprint in industrial production in the state.

This places the state as one of the country’s powerhouses for the future of energy transition, particularly regarding low-carbon oil production.

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Federation data shows that Brazilian suppliers have a carbon emission six times lower than Chinese suppliers in the production of a good and 4.6 times lower than the global average. Thus, the state of Rio de Janeiro can become even more relevant in supplying the low-carbon oil and natural gas industry.

Moreover, with Petrobras’ divestment plan and the sale of mature fields in Brazil, this scenario becomes even more favorable for the state, according to Firjan.

The federation gathered key information from the sector at the launch of the 2022 oil yearbook and, for the first time, presented a section solely focused on energy transition, which highlighted the state’s potential in the sustainable supply of inputs.

According to Firjan’s vice president, Raul Sanson, the government of Rio de Janeiro now needs to focus its efforts on ensuring the necessary tax incentives for the growth of the energy transition market in the region.

Rio de Janeiro is Already Prominent in Low-Carbon Oil Production, but Can Improve Numbers with the Right Incentives

The Firjan report also confirmed the socioeconomic relevance of the oil production market in the Rio de Janeiro region, as more than 50% of the labor force exclusively employed in the oil market in Brazil is located in Rio, due to the location of the Campos and Santos basins. Thus, the state holds an 80% share in national oil production, with a production of nearly 2 million barrels per day of this fuel.

Furthermore, projections from the National Agency of Petroleum (ANP) indicate that the state is expected to receive R$ 380.71 billion in investments in oil production between 2022 and 2026. Consequently, the low-carbon oil production market in Rio de Janeiro can contribute to making the region a global reference in energy transition. However, necessary incentives must be in place for this to happen over the next few years.

Finally, Firjan highlights the adequacy of the local workforce regarding the energy transition market and states that further qualification is needed: “The diversity and complementarity of energy sources have increased, and this will be reflected in the professionals that this industry will hire. Employees will need to be ‘multi-skilled’ and knowledgeable about the energy industry as a whole, for example.”