On August 6^th, 2020 the German-Brazilian Chamber of Commerce and Industry (AHK Rio) and the Business Association for Latin America (LAV) hosted the webinar: Present Business Context of The Oil & Gas Industry in Rio de Janeiro/Brazil.

The webinar was opened by Hanno Erwes, Executive Director of the AHK Rio. He introduced the speaker Milton Costa, expert and Managing Director of Lectas Consultoria Empresarial. Costa has over 40 years of experience in the Brazilian oil and gas sector. The session was moderated by Betina Sachsse, Regional Manager Brazil at the LAV.

The corona crisis has had a negative impact on the entire global economic development. However, Milton Costa is seeing first positive signs of recovery in Brazil. The export of crude oil and production in the refineries, has been brought back to pre-pandemic levels since the end of June. According to Costa, the silent political transformation includes triggers for further positive developments: A new tax reform, a new law for gas and a regulatory framework for the electric sector, as well as changes in the pre-salt production sharing regime are under discussion in the National Congress. If approved, these changes could further open the Brazilian market and increase its competitiveness.

Watch the full video of the webinar for more information on the current position of Petrobras in the market and the Búzios oil field, the opportunities offered by the new gas market and a forecast of future investments opportunities in the Brazilian oil and gas market.