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Petrobras studies investments in energy transition abroad, says executive

Petrobras studies investments in energy transition abroad, says executive

Petrobras It will seek to diversify its portfolio to reduce its exposure to the oil sector, and is studying investments in energy transition projects also abroad, the executive director of Energy Transition and Sustainability, Maurício Tolmasquim, said on Wednesday.

The oil company has already started talks with companies abroad but still “There is nothing concreteTolmasquim noted. The projects must be approved in the 2024-2028 business plan, the publication of which is scheduled for the end of the year.

“It is a possibility, of course we still have to change the strategic plan, this strategic plan will follow this line, I am anticipating (…) this possibility exists”, Tolmasquim said.

Petrobras and the Norwegian Equinor recently said they are studying the possibility of installing an offshore wind farm in Brazil. The renewable energy megaproject will be in the study phase until 2028.

Investment in projects abroad, according to Tolmasquim, would be a “way to quickly place some ventures” in its portfolio in sectors for which Brazil does not yet have an established regulatory framework, such as offshore wind.

Other types of projects, such as hydrogen and carbon capture, use and storage, are also being considered, according to Tolmasquim.

The executive highlighted that the next business plan may consider investments in renewable electricity generation on land, in projects that the company could put into operation more quickly, as well as being attractive and profitable.

“Diversifying the portfolio is essential for us to face future periods in which the price of oil will be lower, it reduces risk, it is not putting all the eggs in one basket”Tolmasquim said, noting that they will remain focused on oil and gas in the short term.

Source: Reuters

Source: Gestion

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