Policy & Regulation

Brazil will make the most of its oil and gas reserves – minister

Brazil plans to boost oil and gas exploration and production to take advantage of its extensive reserves before renewables hurt demand.
By Staff reporter 12 October 2017 0 27951

Brazil plans to boost oil and gas exploration and production to take advantage of its extensive reserves before widespread adoption of renewables and other technologies hurt demand for hydrocarbons, Deputy Energy Minister Paulo Pedrosa told Reuters on Wednesday.

“The stone age did not end for lack of stone, and the oil age will not end for lack of oil,” Pedrosa was quoted as saying. “A race has begun to take advantage of the resource, because in the future it might not have value.”

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