Shell takes great strides to enter the Brazilian renewables market

(Valor) The president of Shell Brasil, Cristiano Pinto da Costa, said today that the company is taking “great strides” to enter the renewable energy market.

According to the executive, the company filed requests for environmental licensing for 17 gigawatts (GW) in offshore wind farms at the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama).

The executive stated that the company annually invests around US$ 8 billion in oil and gas projects and something on the order of US$ 2 billion in renewable energy. “This proportion should balance out in the coming years,” he said.

For Costa, companies that are not connected with the ESG agenda and with the energy transition can put their own business at risk.

Costa stressed, however, that oil will still be used for a few more decades, believing that “the last drop of oil to be produced in the world will be from the pre-salt layer, in Brazil”.

Also according to the president of Shell, Brazil is a country whose oil and gas industry demonstrates competitiveness, especially with the pre-salt layer, which has placed the country in the global market.

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