Investor Presentaiton
20
20
YEARBOOK OF THE OIL AND NATURAL GAS INDUSTRY IN ESPÍRITO SANTO 2022
1.4. Global Oil
Capacity and Refining
The world's installed refining ca-
pacity was 101.9 million barrels per
day in 2021. There was a reduction
America (6.3%) and Africa (3.2%).
The United States, China and Rus-
sia concentrate 41.0% of oil refining
Oil refining capaci- of 419,500 barrels per day, repre- capacity worldwide. Brazil is the
ty in the world
senting 0.41% less than in the pre- 9th country with the highest refin-
vious year.
Asia
35.8%
North
America
World oil refining was 79.2 million
21.1% barrels per day in 2021. There was
Europe 14.8%
Middle East 10.6%
CEI: 8.3%
South and Central America: 6.3%
Africa: 3.2%
an increase of 3.6 million barrels re-
fined per day refined in the world,
4.8% higher than in the previous
year (chart 7).
The refining capacity among the
regions in the world were: Asia
(35.8%), North America (21.1%), Eu-
rope (14.8%), Middle East (10.6%),
Commonwealth of Independent
States (8.3%), South and Central
Chart 7- Oil Capacity and Refining in the world (thousand barrels/day)
110,000
100,000
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
| Production
Consumption
Source: BP Statistical Review of World Energy | Elaboration: Industry Observatory/Findes.
ing capacity in the world, with 2.3
million barrels per day.
Oil refining was divided as follows
among the regions of the world: Asia
(37.3%), North America (22.1%), Eu-
rope (14.5%), Middle East (10.8%),
Commonwealth of Independent
States (8.5%), South and Central
America (4.5%) and Africa (2.3%).
The United States, China and Russia
account for 44.6% of the world's oil
refining. Brazil is the 9th country with
the largest oil refining in the world,
with 1.8 million barrels per day.
2016
2017
2018
2019
OIL AND GAS INDUSTRY PAYS
ATTENTION AND INVESTS IN
ENERGY TRANSITION
ibp
INSTITUTO
BRASILEIRO DE
PETRÓLEO E GÁS
Roberto Ardenghy | Chairperson of the Brazilian Institute of Oil and Gas (IBP)
Fernanda Delgado | Corporate Executive Director of the Brazilian Institute of Oil and Gas (IBP)
In a scenario where climate change is increasingly
demanding solutions, the energy sector is moving
in line with global efforts for a low-carbon econ-
omy. This is certainly one of the sectors that can
contribute the most to achieving the goals of re-
ducing greenhouse gas emissions. The energy
transition is a path of no return, but it is a complex
process and surrounded by challenges.
In view of this context, it is of great importance to
highlight that the oil and natural gas sector, con-
trary to what is often suggested by common sense,
can be configured as an important ally for the en-
ergy transition process. This is because the most
current approaches to this process must cover not
only the issue of decarbonization, but also aspects
related to the security of energy supply and eco-
nomic and social development.
Therefore, the contribution of the oil and natural
gas sector to the energy transition process can
take place from different perspectives, including
technological development and technical expertise,
the use of infrastructure, the financing capacity of
projects focused on low carbon energies and also
aspects related to energy security and economic
and social development.
Energy security is an issue that has been gaining in-
creasing importance due to the recent energy crisis
caused by the conflict between Russia and Ukraine
and its striking effects, especially for the European
continent that has lived for months with fears related
to energy supply during the winter. This issue also be-
comes especially sensitive in the midst of the quest
for decarbonization. The wind and solar photovolta-
ic source lead the energy transition process, but are
subject to generation variability due to climatic con-
ditions such as low incidence of solar rays or the ab-
sence of winds. Thus, the performance of the oil and
natural gas sector remains necessary to guarantee
the supply of energy to the population.
The importance of these sources is necessary even
in the case of Brazil, which stands out for its energy
matrix with a participation of more than 40% from
renewable sources, with great emphasis on hydro-
electric plants. In times of unfavorable weather condi-
tions as observed in 2021 during the period of water
scarcity, the activation of thermoelectric plants was
fundamental to ensure that electricity reached the
consuming units.
Another important contribution of the oil and natural
gas sector concerns its developments in socioeco-
nomic terms. According to the Brazilian Institute of
Oil and Gas (IBP), the sector will attract another USD
180 billion, from 2022 to 2031 in Exploration & Pro-
duction (E&P) activities. With this, it can generate a
collection of more than USD 600 billion for govern-
ments, in addition to providing 400,000 more jobs on
average per year. With more than 800 million barrels
of proven oil reserves and about 20 billion m³ of prov-
en natural gas reserves, Espírito Santo also has the
potential to enjoy the socioeconomic benefits asso-
ciated with investments in oil and natural gas E&P
activities.
From the point of view of decarbonization, the per-
formance of the oil and gas sector can be decisive inView entire presentation