Brazil has among the largest oil and gas reserves in the Western Hemisphere and one of the most important underexplored oil basins in the world. However, the energy sector has been plagued in recent years by low oil prices, stagnant production and mounting debts at state company Petrobras. The Temer government has sought to boost oil production by eliminating barriers to private investment and introducing reforms at Petrobras, but with presidential elections on the horizon, the political scenario is uncertain. What is the outlook for Brazil’s oil and gas sector? How will recent reforms affect upstream bid rounds planned for this year?
- Jorge Camargo, President, Brazilian Petroleum, Gas and Biofuels Institute (IBP)
- Jed Bailey, Managing Partner, Energy Narrative (@EnergyNarrative)
- Lisa Viscidi, Director, Energy, Climate Change & Extractive Industries Program, Inter-American Dialogue (@lviscidi)