Brazil reduces reliance on oil, natural gas in its energy matrix

Brazil’s Energy Research Company (Empresa de Pesquisa Energética/EPE), in partnership with Ministry of Mines and Energy (Ministério de Minas e Energia/MME), reports decline in fossil fuel use over past decade, highlights national progress in energy transition

Published in Jun 25, 2024 11:33 AM Updated in Jun 27, 2024 06:48 PM

Over the past 10 years, Brazil has experienced a significant transformation in its energy matrix, as shown by the 2024 National Energy Balance (Balanço Energético Nacional/BEN) prepared by the Energy Research Company in partnership with the Ministry of Mines and Energy. Released this week, the data show that the share of oil and derivates dropped from 39.2% to 35.1%, while natural gas went from 13.5% to 9.6% over that 10-year period. This shift highlights Brazil's progress in the diversification and increased sustainability of its national energy supply.

“This reduction in our dependence on fossil sources reflects our ongoing effort to revitalize the national energy sector. In recent years, our public policies and strategic investments have driven the growth of alternative sources such as solar, wind and biomass. This transition significantly contributes to the mitigation of greenhouse gas (GHG) emissions,” highlights the minister of Mines and Energy, Alexandre Silveira.

With its vast natural potential, Brazil is positioned as an emerging leader in the global energy transition, as highlighted by a World Economic Forum report released this week. As Brazil reaffirms its commitment to innovation and sustainability, reducing dependence on oil and natural gas can be a catalyst for a cleaner and safer energy future for all Brazilians.

More information about BEN – Every year, the National Energy Balance (Balanço Energético Nacional/BEN), compiled by EPE, provides extensive research and data on Brazil's energy supply and consumption. It covers the extraction of primary energy resources, their conversion into secondary forms, imports and exports, distribution, and final energy use.

The Ministry of Mines and Energy plans to publish by next week a series of articles with the main highlights of BEN 2024 on the electricity, energy planning, oil, natural gas and biofuels sectors.

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