The value added of oil and gas extraction in Brazil witnessed significant fluctuations from 2013 to 2023. The industry reached its peak in 2014 at 129.6 billion Brazilian Reals, followed by a sharp decline until 2016. The value rebounded slightly over the subsequent years, with notable growth in 2017 and 2018. However, a downward trend began again in 2019, continuing through to 2023 where the value stood at 77.76 billion Brazilian Reals. For the period from 2023 to 2028, the forecast indicates a gradual decrease in value, with the sector expected to reach 70.21 billion Brazilian Reals by 2028.
Key variations:
- 2013: +4.3% year-on-year.
- 2014: +3.99% year-on-year.
- 2015: -43.24% year-on-year.
- 2016: -70.04% year-on-year.
- 2017: +87.35% year-on-year.
- 2018: +144.07% year-on-year.
- 2019: +15.41% year-on-year.
- 2020: -22.05% year-on-year.
- 2021: -20.61% year-on-year.
- 2022: +5.35% year-on-year.
- 2023: +2.56% year-on-year; -5.05% CAGR (2018-2023).
Future trends to watch for:
- Exploration in deep-water and pre-salt areas could drive recovery.
- Impact of global oil prices and domestic policies on sector performance.
- Technological advancements and sustainability initiatives could improve efficiency and reduce costs.
