“In the next 10 years, oil production will increase by 73%”, says Adolfo Sachsida

The Minister of Mines and Energy, Adolfo Sachsida, said this Monday (26) that the country should increase oil production by 73% in the next 10 years.

“Over the next 10 years, oil production will increase by 73% and we will invest more than R$400 billion in the oil, gas and biofuels sector. As Minister of the MME, from day one I made it very clear, better legal frameworks, more legal certainty, focus on private investment and generation of competition, this is the path to prosperity”, he said during the opening of the 20th edition of Rio Oil and Gas , the largest event in the sector in Latin America.

Sachsida also spoke about the approval by the National Congress of the measure that limits taxation on energy and fuels as essential goods, according to him, one of the most important measures passed in the history of Brazil.

“Taxing a basic input for the industry at 30% is technically a mistake, this large tax decrease will reduce the dead weight of taxes, increase locative efficiency and should generate a great gain in productivity of income and jobs in the Brazilian economy”, he said.

In addition to the Minister of Mines and Energy, the Minister of the Environment, Joaquim Leite, and other important names in the oil and gas industry participated in the opening of the event. Joaquim Leite highlighted that it is possible to explore oil and guarantee environmental protection. According to him, it is possible to do both at the same time.

“The oil and gas sector is already on the path to a new green economy. You have the oil with the smallest carbon footprint in the world, presented here by Petrobras. Brazil has an opportunity to be a country of security, energy and also green energy for the world”.

Rio Oil E Gás will run until Thursday (28), has representatives from several countries and should receive around 40,000 visitors.