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Understanding Brazil's Energy Industry
Energy Business Reports, March 2008, Pages: 93
Brazil is the 10th largest energy consumer in the world and the third largest in the Western Hemisphere, behind the United States and Canada. Total primary energy consumption in Brazil has increased significantly in recent years. In addition, Brazil has made great strides in increasing its total energy production, particularly oil, over the past decade. Increasing domestic oil production has been a long-term goal of the Brazilian government.
During 2001 Brazil experienced a major electricity supply crisis triggered by a severe drought, but based on small investments in the electricity sectors in the years before. The hydroelectric power plants that had generated 94% of Brazil’s electricity supply before the crisis were left with dry reservoirs, principally caused by lack of investments in the years before. As a result, the government decided to decentralize and diversify the energy generation mix. Due to the unpopular lack of energy this measure was carried out quite in a hurry - often devoid of sincere planning. However, the Government’s supplementary rationing program successfully reduced the economic impact of the crisis. Since then reservoirs have returned to comfortable levels.
Current government policies concentrate mainly on the improvement of energy efficiency, in both residential and industrial sectors, as well as increasing renewable energy. Further restructuring of the energy sector will be one of the key issues for ensuring sufficient energy investments to meet the rising need for fuel and electricity.
Capitalizing on its large crude oil reserves, which is second only to Venezuela in South America, Brazil has increased its offshore oil extraction efforts. Well-developed infrastructure, an ongoing deregulation process, market reforms, and privatization process have created a positive environment for energy investment in Brazil.
There are bright prospects in the Brazilian onshore and offshore oil markets in the areas of
automation, predictive and preventative maintenance techniques, pipeline inspection and repair.
These are supplemented with opportunities for offshore support services including bases, boats, and helicopters. There could also be openings for third-party shared services.
This report covers all the sectors of the Brazilian energy industry and analyzes each in details, dealing with privatization issues, production/consumption data, energy industry reforms, major players in the industry, regulatory frameworks governing the market, and much more. It is a complete coverage of the Brazilian energy industry.
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