2018 was a turbulent year for Brazil, highlighted by right-wing leader Jair Bolsonaro defying expectations and winning the presidential election. Today, as political and economic concerns subside, IHS Markit (IHS) analyst Carlos Rocha says many of the uncertainties that have plagued the nation’s oil and gas market are abating too.
“With the election of Bolsonaro the market reached an end of great uncertainty regarding the maintenance of recent regulatory changes in the oil market. In particular, periodic bid rounds and the adjustments in local content requirements for older contracts and new bid rounds will remain,” he wrote in a report that represents a collaboration between IHS and the organisers of FPSO Brazil Congress 2019, a conference that convenes in Rio de Janeiro this May.
In addition to a comprehensive assessment of the current political and economic landscape in Brazil, Rocha explores the impact that recent developments on these two fronts — and broader macro trends — will shape the FPSO segment in the months and years ahead.
While the report highlights opportunities to capitalise on Brazil’s $101 billion energy industry it also sheds light on some of the challenges. You can download report, which is entitled The Brazil Executive Summary for the FPSO Market, in in full for free below.
Readers of the IHS report will:
- Get a bird’s-eye view of the current status of Brazil’s offshore oil and gas market
- See the impact the Bolsonaro administration has already had on the industry
- Gain clarity about key changes at Petrobras, Sete Brasil, Odebrecht and SBM
- Learn what the future holds for Brazil as it reestablishes itself as one of the world’s top oil and gas players
This article was produced by the content marketing team at NHST Global Publications, Upstream's publisher, on behalf of an advertiser.