Brazil to become major oil exporter, says director of state-run energy firm
“I'm convinced our oil production will grow considerably, and may reach some 4.5 to 5 million barrels of oil equivalent per day in 2016,Coelho said
In view of the expected rise in the demand for fuel in the upcoming years, Brazil may consolidate its position as net exporter of oil and net importer of oil by-products, particularly diesel fuel and aviation kerosene.
The opinion was uttered by José Mauro Coelho, director for studies on oil, natural gas, and biofuel at the Energy Research Company (EPE), on Wednesday (Jun 28), during the launch ceremony of the 2nd Report on Oil Industry, put together by the company in Rio de Janeiro.
According to EPE, linked to the Ministry of Mines and Energy, the success in pre-salt oil exploration and its high productivity may bring about to a higher output rate in the next few years.
“I'm convinced our oil production will grow considerably, and may reach some 4.5 to 5 million barrels of oil equivalent per day in 2016, virtually twice as much after a ten-year time frame, which quite remarkable,” Coelho said.
The increase in the demand for oil production, however should not be followed by a boost in the refining of by-products, in case investments in the national park fail to materialize, he maintains.
Figures for the future
“The demand [for by-products] will not follow the supply [of crude oil]. The country will be producing 4.5 to 5 million barrels for a demand of approximately 3 to 3.5 million liters of by-products. This makes for a major net exporter of oil,” he declared.
Coelho went on to note that no significant changes are to be seen in the country's refining sector for the supply of by-products in ten years from now. “Not many changes to be seen; nothing connected with COMPERJ [Rio de Janeiro Petrochemical Complex], except for the entry of the Natural Gas Processing Unit, around 2021, and perhaps also the beginning of operations of the second RNEST [Refinery of the Northeast] train in 2023, which should add to the country's refining capacity.”
In the section on Brazil, the report highlights that, despite the decline in the country's upstream investment (oil exploration and production), Brazil has surpassed Mexico and Venezuela, and is now Latin America's biggest oil producer, thanks to the increasing pre-salt oil production and the high productivity of its oil fields.
Translated by Fabrício Ferreira
Fonte: Brazil to become major oil exporter, says director of state-run energy firm
