The opportunities to Brazilian oil and gas industry was the topic of the meeting between The Brazilian Oil, Gas and Biofuels Institute (IBP) and the World Petroleum Council (WPC), that happened on April 14, at IBP headquarters, in Rio de Janeiro. As part of the round of WPC visits to Latin American member countries, the meeting was led by Chinese representatives of the council, with attendance of China National Petroleum Corporation (CNPC) members, China’s largest oil producer and distributor.

IBP secretary general, Milton Costa Filho, displayed the current scenario of Brazilian oil and gas sector. According to him, Brazil has a robust consumer market, where the share of renewable sources corresponds to 42% of the country’s energy matrix, led by biofuels and hydroelectric plants. “We have a great responsibility,” said Milton, referring to the energy transition moment the industry is facing and how the country can meet the demand for green energy.

E&P segment has a great potential due to the increased participation of operators, along with the expansion of natural gas market is on the priority agenda of Brazilian government, which is currently developing several projects that can collaborate to reduce the price and, consequently, the reindustrialization of the country, added Milton.

Zhou Jiping, World Petroleum Council vice-president, expects good opportunities after the next bidding rounds, especially in the upstream sector. He also said these meetings are important for exchanging experiences among member countries, sharing knowledge and forging closer relations.

Chen Jintao, CNPC Latin America General Director, showed the company’s projects in the region, also the services of the company, highlighting actions in the fields of Libra and Peroba. “Our expectation is to increase the cooperation between the CNPC and Latin America companies, besides strengthen the relationship between Brazil and China”, affirmed.