Brazil finding the balance
The country faces key downstream and infrastructure challenges
Efforts to reform Brazil's downstream fuels market illustrate the tension between trying to move away from over-arching state control, but also placate a populace angry after corruption scandals and economic austerity. Under existing law, Petrobras plays the role of the country's sole supplier, but this no longer reflects the on-the-ground reality. Nor is it the part the company, which is actively looking for partnerships at some of its refineries, is keen to play. The supreme federal court is, though, taking a keen interest in the legality of any potential partnership. It's estimated that, to meet Brazil's fuels demand in 2030, an investment of over $10bn in downstream infrastructure would
Also in this section
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them
22 April 2024
Beijing’s renewed targeting of NOC management could threaten investment
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis