Oil and Gas Companies - Are They Shifting to Renewables? A Study of Policy Mixes for Energy Transition in Brazil

ABSTRACT We argue that there is a need to advance further research that strengthens the analysis of policy mixes for the energy transition in major emerging economies. In this context, this article aims to answer the following question: How do Brazil’s policies favor or hinder an energy transition of oil and gas companies (O&G) to renewables? To achieve this purpose, we conducted literature and archival research and interviews with experts to analyze (a) Brazil’s energy policy mixes that address O&G and renewables issues; and (b) major O&G companies’ activities and perspectives that influence the energy transition. Results demonstrated that though some of the O&G companies have made significant renewables investments in the last years, they continue focusing on O&G activities. We discuss the main policy mix features that hinder the prioritization of renewables by these O&G companies and that can undermine a sustainable energy transition in Brazil.摘要：我们认为，有必要开展进一步的研究，以强化对主要新兴经济体能源转型相关政策组合的分析。在此背景下，本文旨在解答如下问题：巴西的政策如何助力或阻碍油气（oil and gas, O&G）企业向可再生能源转型？为达成这一研究目标，本文采用文献研究、档案研究与专家访谈相结合的方法，对两方面内容展开分析：其一，巴西针对油气与可再生能源问题出台的能源政策组合；其二，对能源转型存在影响的大型油气企业的业务活动与发展视角。研究结果显示，尽管近年来部分油气企业已在可再生能源领域开展了大额投资，但它们仍将核心业务聚焦于油气相关活动。本文进一步探讨了阻碍此类油气企业优先发展可再生能源的核心政策组合特征，以及这些特征可能对巴西可持续能源转型造成的负面影响。