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LATIN AMERICA ADVISOR

Energy ADVISOR

A daily publication Of the dialogue

January 10, 2025

What’s Behind Petrobras’ Amazon Offshore Plan?

Petrobras plans to explore for oil and gas resources in block 59 off the country’s northern Amazon coastline. // File Photo: Petrobras.

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Lucas Zupolini, consultant at Control Risks: “Petrobras is Brazil’s largest company, whose activity significantly contributes to government revenue—since it is Petrobras’ main shareholder—and trade surpluses. The company’s impact on mitigating the country’s macroeconomic vulnerability, therefore, is unlikely to be disregarded in any decisions on oil and gas explorations in the Equatorial Margin, which includes the concessions around the Amazon. That said, the region has specific environmental and socioeconomic dynamics that make it extremely sensitive to oil spills. The region’s shoreline, for instance, is marked by indentations, low-lying and low-energy environments, with an abundance of…”

Top News

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Mexican energy regulators on Tuesday approved state-run Pemex’s plan to spend $1.9 billion to modernize the Bacab shallow-water field off the coast of Campeche.
Venezuelan Oil Exports Rise 10 Percent in 2024
Venezuela’s crude oil exports recovered substantially in 2024, according to Reuters’ analysis of shipping data. Oil shipment volume to the United States rose by 64 percent last year.
Chile Hydrogen Projects Get $103 Mn in Loans
German development bank KfW will provide $103 million in loans to support green hydrogen projects in Chile, KfW executive board member Christiane Laibach said in a statement.

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ABOUT THE Energy ADVISOR

A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Staff

Gene Kuleta
Editor
202.463.2920
gkuleta@thedialogue.org

Jack Quinn
Reporter

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Lori Rampani
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board of advisors

Nigel Blackaby
Global Head, International Arbitration Group,
Freshfields Bruckhaus Deringer

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

María José Cortés
Head of ESG,
Atlas Renewable Energy

Jeffrey Davidow
Senior Counselor,
The Cohen Group

Analia Gonzalez
Leader, Arbitration & Litigation,
Laitn America, BakerHostetler

Jonathan C. Hamilton
Partner,
White & Case

Raul Herrera
Partner, Corporate &
Securities Practice,
Arnold & Porter

James R. Jones
Chairman,
Monarch Global Strategies

Jorge Kamine
Partner, Corporate &
Financial Services,
Willkie Farr & Gallagher

Craig A. Kelly
Senior Director,
Int’l Government Relations,
Exxon Mobil

Jeremy Martin
Director,
Energy Program,
Institute of the Americas

Larry Pascal
Chairman, Americas
Practice Group,
Haynes & Boone

R. Kirk Sherr
President,
Clearview Strategy Group

Daniela Stevens
Director,
Energy Transition and Climate Program,
Inter-American Dialogue

Doris Rodríguez
Partner,
Hunton Andrews Kurth

Alexandra Valderrama
Director,
International Government
Affairs, Chevron

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