Petrobras is set to enter a new era under the helm of soon-to-be chief executive Jean Paul Prates, but a greener investment agenda, even if it materialises, will not easily displace oil and gas as the state-controlled company’s fundamental driver for growth and revenues.
Prates, who previously served as energy secretary in Rio Grande do Norte and later was elected as senator for the state, was instrumental in fostering a wave of investment in onshore wind there.
As senator he has drafted and sponsored bills proposing a regulatory framework for offshore wind and associated green hydrogen projects, and pushed out new proposals for carbon capture and storage.
