LATIN AMERICA ADVISOR

Energy ADVISOR

A daily publication Of the dialogue

October 4, 2024

Does Petrobras Have the Right Focus for its Investments?

The five-year plan for Brazil’s Petrobras will focus on upstream operations, the state oil company’s chief financial officer said last month. A Petrobras oil platform is pictured. // File Photo: Petrobras.

Q

A

Alfonso Blanco, director, and Michael Kerns, program assistant, both at the Energy Transition & Climate Program at the Inter-American Dialogue: “Brazil’s 2023 rise to become the world’s eighth-largest oil producer was largely fueled by Petrobras’ focus on offshore exploration and production, cementing Petrobras as a key driver of the Brazilian economy. Last year, Petrobras contributed more than 70 percent of Brazil’s production of oil, which surpassed three million barrels a day. Under the Lula administration, Petrobras’ expanded $102 billion investment plan (up 31 percent from its previous $78 billion allocation) signals that…”

Top News

Total, APA Proceeding With Suriname Project
France’s TotalEnergies and U.S. oil driller APA said Tuesday that they will proceed with plans for an offshore oil project off the coast of Suriname.
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Spanish renewable energy company Zelestra opened its largest solar farm to date in Colombia’s Córdoba department. The facility is expected to generate 144 megawatts of electricity, enough to power 100,000 households.
Pemex Sees 6% Decline in Crude Output in August
The production of crude oil at Mexican state oil company Pemex, led by CEO Octavio Romero, fell by 6 percent in August as compared to the same month of 2023. // File Photo: Mexican Government.

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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.

Subscribers

Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

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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