Brazil will be one of the 5 largest oil producers in the world by 2030

July 1, 2020

The Secretary of Petroleum, Natural Gas and Biofuels of the Ministry of Mines and Energy, José Mauro Coelho, estimated that, in the next 10 years, Brazil will be among the five largest oil producers and exporters in the world.

“Although the oil industry has suffered (with the crisis), we already see an important recovery. When we look 10 years ahead, we see oil and natural gas production advancing and leading Brazil to be one of the five largest producers and exporters. the world, “he said.

Last Tuesday (30), he participated in a virtual debate with economists from Necton Investimentos. “I would say that in the next 10 years Brazil will be among the five largest producers, with 5.5 million barrels of oil per day. It will also be one of the five largest exporters, selling about 3 million barrels per day,” he added.

According to the National Agency of Petroleum, Natural Gas and Biofuels (ANP), in 2019, Brazil remained the 10th largest oil producer in the world.

Coelho also pointed out that the oil industry is global and, therefore, directs its best investments to countries with high competitiveness and attractiveness. “That is why we are working on actions that will improve business environments. We will make the auctions of exploratory blocks of oil and natural gas more competitive and attractive,” he said.

The secretary commented that the expectation is that studies for these improvements will be ready by the end of this year, so that the next auctions can already take place in a more favorable context.

According to him, the MME team forecast is that this year, the barrel of oil will end 2020 at US $ 40. For the next two years, the expectation is a gradual resumption at the level of US $ 50. “We do expect a resumption, although not raising the bar to what it was in 2019 “, he commented.

Source: CNN Brasil Business

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