Petrobras’s new president, Magda Chambriard, is driving an aggressive strategy to accelerate oil exploration in Brazil to secure the country’s energy reserves. Despite environmental concerns following recent floods in Rio Grande do Sul, Chambriard is determined to find new oil reserves along the equatorial margin to avoid reliance on imports.
While emphasizing the need to replenish reserves, Chambriard also aims to decarbonize the sector but maintains a strong focus on oil exploration. The government expects her to prioritize projects like repurchasing refineries and supporting a gas-chemical hub in Minas Gerais.
Chambriard is committed to maintaining the current fuel pricing policy introduced in 2022, which has balanced the interests of the government and private shareholders. This accelerated exploration strategy not only ensures Brazil’s energy security but also supports economic growth and helps the country maintain its status as one of the world’s largest oil producers.
Under Chambriard’s leadership, Petrobras is poised to meet future energy demands while addressing environmental challenges, marking a significant step towards securing Brazil’s energy future.