Surto de produção de petróleo no Brasil desperta desejo de Bolsonaro em entrar na OPEP, mas isso seria um bom negócio?

Brazil’s Oil Production Surge Sparks Bolsonaro’s Desire to Join OPEC, But Would It Be a Good Deal?

Written by Paulo Nogueira

Published on 29/11/2019 at 09:42

Updated on 29/11/2019 at 10:41

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In an October forum in Saudi Arabia, Brazilian President Jair Bolsonaro suggested that he would like to see Brazil join OPEC. If such a marriage were to materialize, OPEC would be the winner and Brazil the clear loser, said energy intelligence group Rystad Energy.

Brazil has experienced a tremendous surge in oil production, driven by the development of its pre-salt resources. However, bringing Brazil’s oil production to its current level has certainly not been cheap. Petrobras paid over 78% of Brazil’s US$ 396 billion exploration bill (excluding dry hole costs), development, and operations from 2010 to 2018. This, in 2014, made Petrobras the most indebted publicly listed E&P company in the world. Petrobras would rely on revenues from its growing production to help scale its mountain of debt.

Brazil’s Oil Production Surge Sparks Bolsonaro’s Desire to Join OPEC, But Would It Be a Good Deal?

In an October forum in Saudi Arabia, Brazilian President Jair Bolsonaro suggested that he would like to see Brazil join OPEC. If such a marriage were to materialize, OPEC would be the winner and Brazil the clear loser, said energy intelligence group Rystad Energy.

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Brazil’s Oil Production Surge Sparks Bolsonaro’s Desire to Join OPEC, But Would It Be a Good Deal?

In an October forum in Saudi Arabia, Brazilian President Jair Bolsonaro suggested that he would like to see Brazil join OPEC. If such a marriage were to materialize, OPEC would be the winner and Brazil the clear loser, said energy intelligence group Rystad Energy.

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