Energy Advisor 2025-04-11 – Inter-American Dialogue

LATIN AMERICA ADVISOR

Energy ADVISOR

A daily publication Of the dialogue

April 11, 2025

Can Brazil Boost Oil Production Amid Global Uncertainty?

Brazilian oil sector planners hope to boost crude production by 200,000 barrels by next year. An oil platform off the coast of Rio de Janeiro state is pictured. // File Photo: @renatopmeireles via Adobe Stock.

Q

A Turkish oil refiner last month purchased a cargo of crude oil from Brazil, marking the first Brazilian oil export to Turkey since 2007, Bloomberg News reported March 18. Brazil’s state-run Petrobras expects to add 200,000 barrels per day in crude oil production by 2026 as the company continues to intensify its offshore exploration activity, despite looming uncertainties in global markets. To what extent do shifting geopolitical dynamics represent an opportunity for the oil and gas sector of Brazil? How might sudden changes in oil prices and value chains affect Brazilian oil producers’ ability to continue increasing revenue from hydrocarbons? Does Brazil’s membership in OPEC+ represent an asset or a risk to the country in a changing global order?

A

Yohir Akerman, president of the Latin America region at Guidepost Solutions: “Brazil is flirting with a once-in-a-generation opportunity in the oil sector—if it can avoid tripping over its own contradictions. The return of Brazilian crude to Turkey after 17 years isn’t just a commercial footnote; it’s a flare on the geopolitical map. As Western sanctions squeeze Russian exports and instability looms over the Middle East, buyers are scrambling for reliable, politically neutral suppliers. Brazil, with its deep-water pre-salt riches and democratic credentials, is perfectly positioned to be that supplier. In a world reordering its energy flows, Brazilian barrels are increasingly seen as ‘safe oil’—a premium category in times of global volatility. Petrobras’ plan to boost production by 200,000 barrels per day by 2026…”

Top News

Trinidad Offshore Gas Project Gets License Revoked

The U.S. government has rescinded a license allowing Shell and Trinidad’s National Gas Company to develop a natural gas project in Venezuelan waters, Trinidadian Prime Minister Stuart Young announced on Tuesday.

Subscribe now

Brazil Now Fifth-Largest Global Solar Producer

Nearly 50 percent of all power sector additions in Brazil last year came from solar energy.

Subscribe now

Mexico to Hold Electricity Auction for Private Sector

Mexico’s government will ask private sector companies to submit bids next month for five new gas plants and two new solar parks, the first such private auction of President Claudia Sheinbaum’s tenure in office.

Subscribe now

Complete editions of the Energy Services Advisor are delivered on a biweekly basis to members of the Dialogue’s Corporate Program and other subscribers. Sign up below for a free complimentary preview subscription.

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.