Brazil gets moving on gas competition
The government has progressed on freeing Petrobras from its unwanted dominance of the domestic gas market
Brazil is finally getting serious about loosening the hegemonic grip of Petrobras, the state-owned oil and gas company, on the country's gas industry, almost ten years since regulatory reforms failed to kickstart greater market competition. Allowing Petrobras to sell off assets and get out of non-core sectors is central to the government's natural gas strategy. In July, Brazilian President Jair Bolsonaro inaugurated the New Gas Market programme, aimed at cutting the domestic price of gas 40pc within two years, guaranteeing participation of new entrants and attracting greater investment to the natural gas sector. The current lack of gas market competition is stark. Petrobras controls around 7
Also in this section
30 December 2024
After hitting a high in 2019, output dropped during the Covid-19 pandemic, only to resume growth in 2021 and reach new highs. The US government expects 2.4% growth in 2025
19 December 2024
Deepwater Development Conference welcomes Shell’s deepwater development manager to advisory board for March 2025 event
19 December 2024
The government must take the opportunity to harness the sector’s immense potential to support the long-term development of the UK’s low-carbon sector
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
