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The Brazilian Petroleum, Gas and Biofuels Institute (IBP), in partnership with S&P Global-Platts – leading independent provider of information, benchmark prices and analytics for the energy and commodities markets – and with PwC – focused on audit and assurance, tax and consulting services – organized some exclusive events to young professionals and IBP associated members. The latest trends and thoughts on the oil market for 2019, like energy transition and the technological trends impacts on the job market were among the topics discussed.

According to IBP secretary general, Milton Costa Filho, one of institute’s priorities is to offer support to industry priority agenda, promoting the debate about energy transition and its impacts on markets and companies. “Oil and gas are important energy sources to global demands, however, we know in the future we will have a diversity of energy sources. That’s why, considering the future of our country, one of IBP’s priorities is to boost the pre-salt production and use all of its resources to establish a new energy matrix to Brazil”, pointed Milton.

 

Associated Members Welcome Coffee

The challenges and impacts to oil and gas company in an energy transition framework was the subject of an exclusive welcome coffee to IBP associate members, held on February 4, at institute main office. Hosting Kenny Hawsey, PwC Global Energy Tax Leader and Øistein Johannessen, Equinor Head of Communications, the meeting gathered several oil and gas companies’ executives to share knowledge and to discuss how companies will prepare to keep up with the changes in an energy transition scenario.

The strategic changes of oil and gas companies to respond the energy transition, including renewable energy to its portfolio, needs to be matured internally and them, developed according to the company’s expertise, as affirmed Øistein Johannessen, citing Equinor as an example. The executive alarmed about the future of oil and gas companies. “We are going to see an increase in the use of oil and gas in electricity and a reduction of hydrocarbons in transportation, definitely. We will see more strict regulations, high carbon barriers. We have to reduce our carbon emissions to be more competitive”, concluded.

 

Young people debate

Young professionals of the sector and students brought together to chat with Kenny Hawsey, Global Energy Tax Leader of PWC. As a partnership between IBP and PwC, the meeting brought up the theme The future of the oil and gas industry and opportunities to young professionals and addressed to the young people the perspectives about the impacts of technological trends at the job market.

According to the executive, what will change the young people jobs, in the next five years, will be technology. For him, the technological advance does not represent loss of jobs, though a change in the way of working, living and operating.

Hawsey also highlighted the need of constantly learning, digital above all, as a distinguishing and disruptive manner. “Every day, we need to challenge ourselves. How do I do things differently? How do I do better? Because, if I don’t discover someone else will and will command me. Think in disruption. Think in how each one of you will keep improving”, advised.

 

Global Oil Outlook 2019

In an exclusive event to IBP associated members, the institute in partnership with S&P Global Platts, organized the Global Oil Outlook 2019, to present the latest trends and thoughts on the oil market for 2019. Mark Schwartz, S&P Global Platts Director of Strategy and Analytics, addressed the perspectives to global oil and gas market, likewise perceptions about Latin America market.

“This moment couldn’t be more propitious to prepare an event like that. The Brazilian oil and gas industry is experiencing a period of complex political and opportunity change that has not been seen since the late 1990s”, said Alberto Guimarães, IBP downstream executive secretary. “The IBP, in partnership with authorities and other agents of the sector, works to create an adequate and safe environment to attract investments, allowing Brazil to develop its large oil reserves”, added.

Other aspect reveled for Schwartz as the impact of the new regulation of International Maritime Organization (IMO), which starts at 2020, at global oil and refined products markets. According to him, global specifications for bunker fuels are likely to become restricts from the next year, leading to disruptive changes inside and outside the oil industry.

“The changes at specifications will be applied despite the counter-arguments, so, it is unlikely that the new regulation will be postponed. Our understanding is that the industry will meet the new rules as multiple forces will drive greater compliance”, said Schwartz.