Analysis: Massive Changes Ahead in Brazil´s Oil and Gas Industry Amid Global Competition

Brazil’s oil production has been rising for decades, from 1.2 million barrels per day in 2000 to 3 million in 2020.

RIO DE JANEIRO, BRAZIL - Brazil needs to continue making important oil industry reforms in 2021 to remain as one of the world’s top destinations for investments amid heated global competition and uncertainties about the coronavirus pandemic, according to government and industry officials.

The efforts will come during a period of massive change in Brazil’s energy sector that will see state-controlled oil company Petrobras lose its monopolies in natural gas and refining.

Petrobras is looking to sell eight of its refineries, and has already completed negotiations to sell Refinaria Landulpho Alves in Bahia state to Abu Dhabi ‘s . . .

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