Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030, based on Rystad Energy’s latest data and forecasts. Brazil’s biggest-ever oil auctions in November were generally deemed to be disappointing, receiving muted interest from international exploration and production companies. However, national oil company Petrobras could not have asked for a better outcome. The world’s fastest growing oil producer gained nearly full control of more than eight billion barrels of oil in the Buzios field, where a sixth floater is being planned. To develop these and other resources off the coast of the South American country, Brazil is set for a whopping $70 billion offshore capital investment spree between 2020 and 2025, solely on field development. This program will have a monumental effect on Petrobras. “Petrobras can, in a matter of years, become the world’s largest oil producer among publically listed companies. […]