• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 23 mins Could Someone Give Me Insights on the Future of Renewable Energy?
  • 15 hours How Far Have We Really Gotten With Alternative Energy
  • 2 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 14 hours e-truck insanity
  • 4 days Bankruptcy in the Industry
  • 1 day Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days The United States produced more crude oil than any nation, at any time.
Coal Continues to Thrive Despite Pledges for Clean Energy

Coal Continues to Thrive Despite Pledges for Clean Energy

Despite global commitments to clean…

China's Capital Flight Could Fuel Bitcoin’s Next Rally

China's Capital Flight Could Fuel Bitcoin’s Next Rally

Chinese FX outflows, often underreported…

Brazil To Finalize Wind, Hydrogen Framework By Year’s End

Despite Petrobras hoping to be the last oil producer standing amid the energy transition, Brazil is looking to pass regulations for its offshore wind and green hydrogen industries by the end of this year, Brazil’s energy minister said on Tuesday.

Brazil’s President Luiz Inacio Lula da Silva has voiced support for the energy transition, promising to keep that as a focus of this administration. Meanwhile, Petrobras CEO Jean Paul Prates said in a Bloomberg interview back in March that the company could be the last man standing when it comes to crude oil production amid the energy transition, adding that “we will get market share”. 

But Prates also said in March that Petrobras must be ready for the “unavoidable” energy transition—and that Petrobras wanted to be a significant part of the energy transition process.

One of the ways Petrobras intends to be part of the energy transition—beyond being the last man standing when it comes to oil production—is getting into offshore wind power generation, which Petrobras argues isn’t a huge leap, considering it already has deepwater experience when it comes to oil.

The size of Brazil’s wind aspirations is significant. Brazilian Energy Minister Alexandre Silveira said this week that there is an auction coming up just for the transmission lines that would transport solar and onshore wind energy from one part of the country to another that has the potential to bring in more than $40 billion in investments.

But the country doesn’t have any regulations yet for the wind or green hydrogen industries.

In other Brazilian energy news, Petrobras won its Supreme Court appeal this week against a case over salary remuneration that will keep it from having to pay nearly $4 billion in salary corrections.

By Julianne Geiger for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News