The oil and gas sector in Brazil is expected to attract around BRL 102 billion in investments by 2025, according to a study by the Brazilian Association of Petroleum Service Companies (Abespetro). “We were in red (in terms of investments) because of the pandemic. We are improving now”, said Telmo Ghiorzi, executive secretary of Abespetro. Investment data from Petrobras, the largest oil company in the country, accompany this recovery projection. The average annual investment between 2017 and 2021 was 9.05 billion dollars, considering nominal values. From this moment up to 2026, Petrobras plans to invest a total of 57.3 billion dollars, considering the retracts, an average of 11.5 billion dollars per year.
Source: Reuters (*Translated by Ia Niani)