The Banking Executive Magazine - August 2021

As Brazil’s oil industry looks set to soar over the next decade, with the potential to provide almost a quarter of the world’s offshore oil by 2025, Big Oil is betting big on the oil-rich state. When most of the oil companies re- duced production in 2020 as de- mand stagnated due to the global pandemic, Brazil increased its out- put. These sustained levels of pro- the BANKING EXECUTIVE 20 ISSUE 152 AUGUST 2021 A Promising Future for Brazil’s Oil Production ¼ of the World’s Offshore Oil in 4 Years