BNDES and Petrobras sign energy transition and research agreement

To fulfill these objectives, a mixed commission was created, which will meet every two months. The president of the BNDES, Aloizio Mercadante, said that he intends to increase the investment limit in Petrobras and that, for this purpose, he has been talking to the federal government.

“Today, we have just over 7% of Petrobras’ shares, something around R$ 24 billion. This company is so important to the BNDES that, in one year and three months, we practically received the capital we have invested: BRL 20.5 billion in dividends. But we want to finance Petrobras’ energy transition more than receiving dividends. We have an ordinance from the Central Bank that establishes limits. We are discussing with the Ministry of Finance and the Civil House to change some rules and allow us to be more present in this financing”, said Mercadante.

thematic groups

The agreement will involve four thematic working groups. The Planning and Studies Subcommittee will encourage scientific research and strategic studies. The Production Development and Innovation Subcommittee will strengthen the oil and gas supply chain. The Energy Transition and Decarbonization Subcommittee intends to strengthen biorefining, biofertilizers, biodiesel and biogas. And the Governance Subcommittee will prioritize governance, integrity and transparency actions in the sector.

The president of Petrobras, Jean Paul Prates, said that the partnership with the BNDES will be essential to face the challenges related to the energy transition.

“Imagine the challenge of being a producer of something that is doomed to disappear, but that you still have to produce, with very large investments, including for refining. All this in the midst of a process that you have to look at 30 or 40 years from now, and these products will no longer be there. And my role is to eliminate this need”, explained Prates.

“All of our suppliers are also making their energy transitions. All in some way trying to rely less on supplying the oil and gas industry. And 15 years from now, we will certainly have difficulties in making a public notice and having classic suppliers”, she added.

Gas

Prates also commented on recent pronouncements by the Minister of Mines and Energy, Alexandre Silveira, who criticized the state-owned company’s strategy of reinjecting more than 40% of the gas produced. According to the minister, this process happens due to difficulties in the flow and Petrobras should invest more to solve the problem, so as not to harm the country’s growth. Prates stressed that the state-owned company adopts the best method within the operational possibilities available.

“It is not a question of Petrobras wanting to produce gas or not. Whatever gas she has, she wants to monetize”, he stressed.

“We need to work together, converge and choose priorities. Because if there is no gas for all segments – and there are segments that may have substitute fuels, including energy transition, such as hydrogen, solar, wind and water energy – let’s work on this set, instead of creating controversy where it does not exist. We are going to work together with the Ministry of Mines and Energy”, he concluded.