The change in Brazil’s federal government at the beginning of the year brought with it fresh winds and the prospect of formulating a new strategic direction for Petrobras.
After years of being focused on oil exploration and production, the company has turned its attention to activities considered “non-core”, such as refining, natural gas, fertilizers and petrochemicals.
But what is most striking to those who follow the state-run company is its commitment to the issue of energy transition.
After announcing the creation of an executive board focused on this subject, Petrobras announced that it intends to allocate between 6% and 15% of its capex to low-carbon projects between 2024 and 2028.
Under the chairmanship of Jean Paul Prates – who, as a senator, prepared a bill to regulate offshore wind generation in Brazil – the company has begun to step up its efforts to seek partnerships in the renewable sources sector both in and outside the country.