The president of Petrobras (PETR4;PETR3), Jean Paul Prateshe stated in an interview with Bloomberg TV that barrel prices Petroleum they could exceed the US$90 level this year, if attacks on ships in the Red Sea intensify.
In the midst of the crisis in Middle East, which impact maritime transport, Prates also defended that the Brazilian oil company is safe because it does not transport much oil through the Gulf. Furthermore, he highlighted that the Suez Canal is not used, keeping Petrobras “quite protected”.
Regarding oil and gas, he assesses that there is a very fragile bottleneck for the business and highlights that the subject has not received attention for decades. Without an escalation of the conflict, it still sees the commodity trading between US$70 and US$90 this year.
“We have a very fragile bottleneck for the oil and gas business. No one was paying attention to this for decades. You have Yemen on one side and Somalia on the other”, he points out.
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Prates also addressed the issue of the border dispute between Venezuela and Guyana, stating that Brazil will help mediate the situation.
He pointed out that Exxon Mobil discovered billions of barrels of oil in the area, and that Petrobras could invest in projects in any of the countries.