Brazil Energy Opportunities & Sustainability Commitments

The role of the O&G Industry in the pathway to net zero O&G will continue to play an important role O&G play a critical role in today's energy and economic systems (more than 50% of primary energy), being affordable, reliable and providing supplies that are necessary in the pathway to net zero. Also, the O&G industry has the skills, infrastructure and capital to help unlock net zero solutions such as CCS, low-carbon hydrogen and offshore wind. Carbon reduction is imperative in the O&G sector Regardless of the speed and the pathways of the transition, climate impacts will become more visible and severe over the coming years. Emissions reduction are not an option if the sector wants to retain its social license to operate. The competitive landscape will also be about the lower carbon footprint. O&G demand should decrease before supply Hydrocarbon demand is not falling fast enough to match the potential underinvestment in fossil fuels nowadays. Therefore, the gas, coal, and electricity crisis shows that investments in traditional sources are still needed if there is demand, like the one motivated by the rapid economic rebound from the covid recession and weather factors, and to create redundancy. anp

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