Brazil as the Hot Spot on the International Oil and Gas Market

摘要

Following a sequence of industrial, regulatory and legal changes in the upstream since 2016, coupled with gasoline and diesel new pricing policy aimed at a more open and competitive downstream market, Brazil appears poised to attract investments that intend to flood the country with oil, gas, revenues, jobs, economic activity, and especially, freedom of choice. However, the challenges are still abundant and diverse. Moreover, the sooner actions are addressed, discussed and analyzed, whether in the legal or infra-legal sphere, the more these market changes will bring benefits to the country. There are necessary actions throughout the energy market that will create new opportunities for the private sector. Each has an associated different level of urgency: the effective opening of the gas market through a significant decrease of reinjection; Petrobras divestments, which are key to leveraging jobs and giving diversity to the local supply industry and access to broader sources of investment; reducing Brazil's complexity of doing business through areas such as tax reform; defining Petrobras' role -more than size or privatization - is key to attracting new investment; maintaining discussions and advancements in legal and regulatory frameworks, especially those related to infrastructure access, unconventional exploration and refinery sales.