Brazilian Oil and Gas Sector Research Sees Investment Increase by 66 Percent

Funding for development and innovation research may be increased in the coming years. Studies from the Brazilian Institute of Oil, Gas, and Biofuels (IBP) state that by 2025, the country should invest over R$30 billion in development and innovation research.

RIO DE JANEIRO, BRAZIL - Investments in development and innovation research in the oil and gas sector in Brazil increased by 66 percent in applied funds from 2017 to 2018. They grew from R$1.2 billion (US$303 million) to R$2 billion last year.

The data are included in the 4th edition of the Yearbook of the Oil Industry in Rio de Janeiro: Panorama 2019, released yesterday, August 7th, by the Federation of Industries of Rio de Janeiro (Firjan) and prepared chiefly based on national data released by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

The . . .

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