SAO PAULO (Reuters) – Petrobras is looking to explore new frontiers for oil and gas, such as the Equatorial Margin, and is also preparing for the energy transition through investments in renewable fuels and decarbonization actions, said company president Caio. Paes de Andrade, at the opening of the Rio Oil & Gas conference.
In a rare public speech since taking office in June, he recalled that the company plans to invest $2.8 billion over five years in decarbonization measures. He also said that Petrobras seeks to be increasingly resilient and prepared to act in a “sustainable, safe and competitive way in the long term”.
In treatment for cancer, the executive said in a video shown at the opening of the event that Brazil is on the path to improving the business environment, reducing bureaucracy and increasing legal certainty.
(By Rodrigo Viga Gaier; text by Roberto Samora)
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