2023 Energy Landscape & Outlook

ENERGY OUTLOOK 2023

Petrobras, Brazil’s powerhouse energy company, should also undergo significant changes this year. After six years of restructuring its portfolio and divesting activities, Petrobras should resume a role more focused on the country’s industrial policy, occupying a central role in Lula government’s energy policy. It is very likely that the continuing divestment of Petrobras assets, especially refineries, will be interrupted. The new government may also use Petrobras as an instrument to leverage the energy transition policy. It is likely that the company might undergo a repositioning towards becoming an integrated energy company. The company is expected to start investment in projects related to offshore wind generation, green hydrogen and biorefining. As the country possesses abundantwindand solar resources, Brazil tends to attract more contracts and investment dedicated to the future implementation of projects related to the production of green hydrogen, mainly on the coast of the Northeast and Southeast regions, for export purposes

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