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UPDATE 1-CERAWEEK-Petrobras CEO meets peers to discuss future partnerships

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details, background, CEO quote) SAO PAULO, March 8 (Reuters) - The chief executive of Brazilian state-run oil company Petrobras met with executives from other oil majors at the CERAWeek conference in Houston to evaluate potential future partnerships, the firm said on Wednesday. According to Petrobras, Jean Paul Prates discussed "cooperation in the energy transition and the implementation of new technologies" with executives from BP , Petronas , TotalEnergies and Equinor . Prates, a former senator appointed by President Luiz Inacio Lula da Silva to head the oil giant, took office in January with expectations he would oversee a strategic shift to more renewable energy projects. He has said Petroleo Brasileiro SA, as the company is formally known, "must prepare for an


unavoidable energy transition " and that he wants the company to play a leading role in it.


Earlier this week, the Brazilian firm announced an


agreement with Norway's Equinor to evaluate development of seven wind projects offshore Brazil, which could cost $70 billion if confirmed in its entirety.


In talks with BP's chief executive Bernard Looney, Petrobras said in a statement on its website, both companies - which partner across five oil blocks in Brazil - signaled their intention to form future partnerships and exchange experiences.


"We will follow up with mutual visits to deepen discussions in the areas of ??exploration and production and energy transition," Prates said, adding he raised the topic of potential partnerships in bioenergy and hydrogen production.


Petrobras also said Malaysia's Petronas showed interest in the Brazilian peer's production of renewable diesel, while highlighting potential synergies emerging from similarities between their countries.


Energy transition was also at the center of Prates' talks with TotalEnergies Chief Executive Patrick Pouyanne and Equinor CEO Anders Opedal, the firm added.
(Reporting by Gabriel Araujo and Marta Nogueira; Editing by Sarah Morland)

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