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Ministry of Mines and Energy (MME)

Bento Albuquerque: oil crisis opens opportunities for Brazil

09/24/2019 | 12h09
Bento Albuquerque: oil crisis opens opportunities for Brazil
Divulgation Divulgation

Mines and Energy Minister Bento Albuquerque said the terrorist attack on oil facilities in Saudi Arabia could result in an investment attraction for Brazil. In an interview he said that in addition to opportunities in new oil auctions, the country offers a safer environment.


"Within the international crisis we are witnessing, from what happened in Saudi Arabia, in a terrorist attack, the conditions for investment in Brazil become much more favorable, not only in relation to the productivity of our oil fields, but by the stability that exists in the country, as well as a good business environment, "he said.


On September 14, a drone bombed Saudi Aramco refineries in Abqaiq and Khurais. The action was claimed by Yemeni rebels Houthis, who have been waging a civil war in the country since 2014. With the attacks, Saudi Arabia, which is the largest oil producer on the planet, has announced the suspension of half of its daily production. . The immediate effect of this attack was a spike in the price of a barrel of oil, which rose by over 18%.


Albuquerque has reinforced the government's expectation for the assignment auction, which will take place on November 6, and will yield tens of billions of reais to the Union coffers with the signing bonuses of the contracts.


"We will hold three auctions in the oil and gas sector by the end of the year, the most anticipated being the onerous assignment that will make our country, within 20 years, among the top five oil and gas producers in the world. world."


Signed by Petrobras and the Federal Government in 2010, the onerous assignment agreement guaranteed the state to explore 5 billion barrels of oil in pre-salt areas for 40 years. In return, the company anticipated the payment of $ 74.8 billion to the government. The surpluses are the uncovered volumes of oil, which exceed 5 billion barrels. Since 2013, the government has been negotiating an amendment to the contract after Petrobras called for adjustments due to the devaluation of the price of a barrel of oil in the international market.


Following an agreement with Petrobras, the government set at R $ 106.6 billion the amount to be paid for the signing bonus of the surplus assignment auction, and at US $ 9.058 billion the amount to be discounted for Petrobras, as negotiation of the amendment to the contract signed with the Union. Atapu, Búzios, Itapu and Sepia areas in the Santos Basin will be auctioned, with a total area of 1,385 km².


US Agenda 

Bento Albuquerque is in New York, United States, to attend the 74th United Nations General Assembly. Before joining the entourage of President Jair Bolsonaro, who arrives on Monday (23) in the city, the minister will meet with foreign investors.


"I have made some international trips, I was recently in China, where I could meet with investors, who already have investments in Brazil and intend to increase these investments, as a result of the good business environment that we have been able to build in these eight months, with much predictability of what will happen. occur in the future, both in the electricity sector and in the oil, gas and biofuels and mining sectors. That is what I intend to do for breakfast with investors [in the US], "he said.

Font: T&B Petroleum/Agência Brasil
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