According to the Ministry of Mines and Energy, the targets are defined in Decarbonization Credit Units (CBIO) and considered the recent impacts of the covid-19 pandemic on the fuel market in the short and medium term. "Consequently, RenovaBio's emission reduction targets followed this movement, as well as the targets set for 2020 were reduced," says the ministry.

Extension of concession contracts 

The CNPE approved a resolution authorizing the National Agency of Petroleum, Natural Gas and Biofuels (ANP) to extend the term of validity of the concession contracts signed as of the 1st Round of Exploration Blocks Bids.

"This decision complements the one already approved by Resolution CNPE nº 2, of March 3, 2016, which dealt exclusively with the extension of the contracts signed in Round Zero. With this approval, conditions are established for the maintenance and revitalization of oil and gas production natural in mature deposits that need complementary efforts to the established development plan, preserving the interest of the Union with the best use of petroleum resources, generating employment, income and greater collection of government participation by the federated entities ", says the ministry.

Schedule of Rounds 

The National Energy Policy Council approved the revision of CNPE Resolution No. 10, of June 5, 2018, and authorized the ANP to hold the 17th and 18th Bidding Round for blocks for exploration and production of oil and natural gas, in the modality in the years 2021 and 2022, respectively.

According to the ministry, the two events were scheduled to take place in 2020 and 2021, however, due to "the great global economic instability and the fall in oil prices caused by the pandemic of the covid-19", the president of CNPE, the minister of Minas e Energia, Bento Albuquerque, requested the ANP, in March 2020, the temporary suspension of the actions related to the 17th Round of Exploration Blocks Bids that would take place in November 2020.

"With this measure, a favorable environment is created for the resumption of investments in the post-pandemic oil and natural gas exploration and production sector and the predictability for the industry regarding investment opportunities in Brazil remains," adds the ministry.

Today's meeting was held by videoconference, with the participation of ministers of Mines and Energy, Bento Albuquerque, of Economy, Paulo Guedes, and of the Civil House, Braga Netto, in addition to other representatives and board members.