France: Petrobras CEO Tells International Energy Agency Meeting of Global Industry Shifts
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Thursday, 20 October 2011 |
José Sergio Gabrielli de Azevedo, CEO of Brazil’s state-owned oil giant Petrobras, has told an International Energy Agency meeting that Brazil will be a major contributor to the world’s oil supply in the coming years, and noted that demand from developing nations would continue to grow. Speaking at a ministerial meeting in Paris organised by the agency, Gabrielli told his audience of the “shift taking place in the energy industry."
Gabrielli said that demand for oil is migrating from mature markets to emerging countries including Brazil, Russia, China and South Africa. "This is a major transformation in oil geopolitics and market logistics," he said, noting that demand for oil continued to rise in these markets despite the global downturn.
Speaking of Brazil, Gabrielli said that Petrobras would aim to improve its production levels and also noted that the country needs to increase investments in refining. "We will invest not only in the refining capacity, but also in developing means of communication, robotics, safety procedures, logistics and information technology, among others. This is an obligation Petrobras must and will take on," he said.
PetrolWorld 20102011
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