Petrobras evaluates resuming investments in Venezuela

Petrobras has plans to resume its investments in South American countries, including Venezuela.

The president of the state-owned company, Jean Paul Prates, said on Tuesday 30, in a meeting with the president of Bolivia, Luis Arce, that the company should seek new business opportunities in gas exploration and energy transition.

According to the head of the state-owned company, it will be a “new” phase for the company.

“We want to revisit neighboring countries, such as Bolivia, Venezuela, and Guyana, and discuss some points, such as contractual terms, new potential for gas exploration, and the preparation of companies for the energy transition,” he said.

Prates affirmed that companies with the State as major shareholder, such as Petrobras and the Bolivian company YPFB, are necessary for the world’s energy transition.

Petrobras also said it plans to conduct industrial tests in partnership with the Riograndense Refinery to produce petrochemical products and renewable fuels.

According to the company, the initiative opens the way for developing biorefining technologies in Brazil.

According to the state-owned company’s statement, Luis Arce emphasized that Bolivia can sit down and seek joint solutions for the two countries.

Later this year, Prates and the Bolivian president will meet in Bolivia to discuss commercial agreements between the countries.

With information from Revista Oeste

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