Brazil: Magda Chambriard takes charge of Brazilian oil giant Petrobras

Magda Chambriard becomes the new president of Petrobras, with the challenge of stabilizing the company in the midst of an energy transition and after a period of internal turbulence.

Share:

Stabilisation Leadership Petrobras

Gain full professional access to energynews.pro from 4.90€/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90€/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 €/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99€/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 €/year from the second year.

Magda Chambriard, former Director of the National Petroleum Agency (ANP), has been appointed President of Petrobras following the dismissal of Jean Paul Prates. This appointment marks a turning point for the Brazilian oil giant, which has seen a succession of six presidents in three years, testifying to the instability that reigns within the company. The new president, aged 66, took office with the aim of restoring stability and positioning Petrobras to meet the challenges of the global energy transition. The company’s shares reacted positively, rising by 0.80% shortly after his appointment was announced.

The challenges of the energy transition

Petrobras, an emblematic company in the Brazilian economy, is at a crucial crossroads. The world’s major oil companies are faced with the need to adapt to the energy transition, and Petrobras is no exception. Magda Chambriard’s priorities include the exploration of new sources of oil, particularly near the mouth of the Amazon, a controversial but potentially very lucrative project. According to Luis Eduardo Duque Dutra, an economist at the Federal University of Rio de Janeiro, current Brazilian oil production cannot be sustained beyond 2034 without new discoveries. It is crucial for Petrobras to secure new reserves to guarantee production until 2040.

Expansion potential in the Amazon

The Amazon mouth region represents a new “frontier” for oil exploration in Brazil. Mauro Rochlin, from the Getulio Vargas Foundation, underlines the impressive potential of this area, which could double Brazil’s oil production, currently at 3 million barrels per day. However, the project is facing harsh criticism from environmentalists and is causing tensions within the Lula government. The Brazilian president, while presenting himself as a world leader in the fight against global warming, considers oil revenues essential for the country’s economic development.

An uncertain but promising future

Magda Chambriard takes office at a time when Petrobras has enjoyed a very lucrative 2023, despite a 32.1% drop in net profit compared with 2022. The challenge for the new president will be to navigate between the demands of the energy transition and the need to maintain the company’s profitability. Petrobras’ role in the Brazilian economy is undeniable, and the decisions taken by Magda Chambriard will have major repercussions on the country’s energy future. His ability to reconcile economic objectives with environmental commitments will be crucial to the success of his mandate.
The appointment of Magda Chambriard as head of Petrobras marks a new chapter for the company. Taking the reins of the oil giant at a critical time, she will face significant challenges, while capitalizing on the opportunities offered by new oil exploration. His leadership will be decisive in guiding Petrobras towards a stable and prosperous future, in an ever-changing global context.

Opportunities are emerging for African countries to move from extraction to industrial manufacturing in energy technology value chains, as the 2025 G20 discussions highlight these issues.
According to the International Energy Agency (IEA), global renewable power capacity could more than double by 2030, driven by the rise of solar photovoltaics despite supply chain pressures and evolving policy frameworks.
Algeria plans to allocate $60 billion to energy projects by 2029, primarily targeting upstream oil and gas, while developing petrochemicals, renewables and unconventional resources.
China set a record for clean technology exports in August, driven by surging sales of electric vehicles and batteries, with more than half of the growth coming from non-OECD markets.
A night-time attack on Belgorod’s power grid left thousands without electricity, according to Russian local authorities, despite partial service restoration the following morning.
The French Academy of Sciences calls for a global ban on solar radiation modification, citing major risks to climate stability and the world economy.
The halt of US federal services disrupts the entire decision-making chain for energy and mining projects, with growing risks of administrative delays and missing critical data.
Facing a potential federal government shutdown, multiple US energy agencies are preparing to suspend services and furlough thousands of employees.
A report reveals the economic impact of renewable energy losses in Chile, indicating that a 1% drop in curtailments could generate $15mn in annual savings.
Faced with growing threats to its infrastructure, Denmark raises its energy alert level in response to a series of unidentified drone flyovers and ongoing geopolitical tensions.
The Prime Minister dismissed rumours of a moratorium on renewables, as the upcoming energy roadmap triggers tensions within the sector.
Kuwait plans to develop 14.05 GW of new power capacity by 2031 to meet growing demand and reduce scheduled outages, driven by extreme temperatures and maintenance delays.
The partnership with the World Bank-funded Pro Energia+ programme aims to expand electricity access in Mozambique by targeting rural communities through a results-based financing mechanism.
The European Commission strengthens ACER’s funding through a new fee structure applied to reporting entities, aimed at supporting increased surveillance of wholesale energy market transactions.
France’s Court of Auditors is urging clarity on EDF’s financing structure, as the public utility confronts a €460bn investment programme through 2040 to support its new nuclear reactor rollout.
The U.S. Department of Energy will return more than $13bn in unspent funds originally allocated to climate initiatives, in line with the Trump administration’s new budget policy.
Under pressure from Washington, the International Energy Agency reintroduces a pro-fossil scenario in its report, marking a shift in its direction amid rising tensions with the Trump administration.
Southeast Asia, facing rapid electricity consumption growth, could tap up to 20 terawatts of solar and wind potential to strengthen energy security.
The President of the Energy Regulatory Commission was elected to the presidency of the Board of Regulators of the Agency for the Cooperation of Energy Regulators for a two-and-a-half-year term.
The Australian government has announced a new climate target backed by a funding plan, while maintaining its position as a major coal exporter, raising questions about its long-term energy strategy.