Prats rejects oil cap proposal: “To say it is ugly and should end this year is an understatement”

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Reuters – Petrobras President Jean-Paul Prats said on Thursday (28) that he considers it necessary to hold further discussions before considering restrictions on oil production in Brazil, and also defended that the country continues to search for new exploration frontiers, globally. The risk of dependence on imports in the future.

Prats' speech comes after Environment and Climate Change Minister Marina Silva, in an interview with the Financial Times this week, defended imposing a cap on oil exploration in Brazil.

“Just raising the flag and saying that oil is ugly and should end this year is very understated,” the executive said, in an interview with Globo News, when asked about his position regarding Marina’s statement.

Prats stressed that he was not against setting a ceiling on oil production, but he considered that the matter would require a set of discussions about consumption and the use of forests, land and sea in activities beyond energy generation, and consideration of that. Even where the oil substitute comes from is more clear.

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“My understanding of the oil ceiling in a country like Brazil is probably still something in the queue, and there are many other things we need to think about,” he said, further reiterating that “there is absolutely no conflict between Petrobras.” Or its president, with Minister Marina Silva, and repeatedly considering it a professional reference.

The CEO also once again defended the search for oil in the Foz do Río Amazonas Basin, in the ultra-deep waters of Amapa, an area with vast exploration potential, but facing enormous social and environmental challenges.

The Environmental Agency Ibama refused to grant a license to Petrobras to drill an exploratory well in the area in May this year, and the company has submitted a request for reconsideration, with no response so far. The search for oil in new frontiers, according to Prats, is necessary to avoid a decline in its production in the next decade.

According to the CEO, Petrobras' peak production is currently expected to reach around 2032.

“If the pre-salt phase ends in 30 or 35 years, and oil continues to be important to humanity for 50 or 60 years, we will theoretically have to start importing oil from other, more charred, countries that do not pay royalties to our state.” “It does not generate job opportunities in Brazil.”