popular articles

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.
Stabilisation Leadership Petrobras

Please share:

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.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The European Court of Auditors warns of the urgency of massive investments in the Union’s ageing power grids, hampered by administrative delays and inadequate planning.
Several lawmakers and former energy executives are demanding a moratorium on PPE3, criticising a plan they view as disconnected from current economic and geopolitical realities.
Several lawmakers and former energy executives are demanding a moratorium on PPE3, criticising a plan they view as disconnected from current economic and geopolitical realities.
The head of Framatome will be heard on 30 April by both chambers to validate his nomination to lead EDF, following the non-renewal of Luc Rémont by the executive.
The head of Framatome will be heard on 30 April by both chambers to validate his nomination to lead EDF, following the non-renewal of Luc Rémont by the executive.
Following a series of major electricity outages on the island of Upolu, the Samoan government has declared a state of emergency to prioritise essential services and mobilise foreign aid.
Following a series of major electricity outages on the island of Upolu, the Samoan government has declared a state of emergency to prioritise essential services and mobilise foreign aid.
The Minister of Industry and Energy expressed openness to a debate and a vote on the 2025–2035 energy strategy, amid criticism from opposition parties over the lack of democratic consultation.
France’s Ministry of Industry and Energy postpones the 2025 energy voucher to November, citing delayed budget approval and announcing revised allocation rules.
France’s Ministry of Industry and Energy postpones the 2025 energy voucher to November, citing delayed budget approval and announcing revised allocation rules.
France’s decarbonisation pace slowed significantly in 2024, according to Citepa, putting its 2030 climate targets at risk.
France’s decarbonisation pace slowed significantly in 2024, according to Citepa, putting its 2030 climate targets at risk.
Luc Rémont was dismissed as head of EDF by the French executive due to disagreements over industrial contract strategy and financing of the EPR2 nuclear programme.
Luc Rémont was dismissed as head of EDF by the French executive due to disagreements over industrial contract strategy and financing of the EPR2 nuclear programme.
Just Stop Oil will end its high-profile actions after one of its core demands was integrated into the British government's energy policy.
The surge in solar production and the slow upgrade of electricity infrastructure are blocking thousands of projects in the Netherlands, affecting energy security and consumer costs.
The surge in solar production and the slow upgrade of electricity infrastructure are blocking thousands of projects in the Netherlands, affecting energy security and consumer costs.
The development of French power grids is facing a structural shortage of skilled labour, despite €200bn in projected investments by 2040.
The development of French power grids is facing a structural shortage of skilled labour, despite €200bn in projected investments by 2040.
Luc Rémont's departure exposes ongoing disagreements between EDF and the French State over electricity pricing for industry and the financing terms of the nuclear programme.
Luc Rémont's departure exposes ongoing disagreements between EDF and the French State over electricity pricing for industry and the financing terms of the nuclear programme.
The European Investment Bank approves a final tranche of PLN1.7bn for Orlen to modernise electricity distribution infrastructure in Poland via its subsidiary Energa Operator.
Luc Rémont is replaced as head of EDF as French manufacturers criticise a pricing strategy seen as incompatible with national industrial competitiveness.
Luc Rémont is replaced as head of EDF as French manufacturers criticise a pricing strategy seen as incompatible with national industrial competitiveness.
Luc Rémont will not be reappointed as Chairman of Électricité de France, two years after his nomination, despite record profits in 2024 and the revival of the nuclear fleet.
Luc Rémont will not be reappointed as Chairman of Électricité de France, two years after his nomination, despite record profits in 2024 and the revival of the nuclear fleet.
The French government has appointed Bernard Fontana to lead EDF, relying on his experience in nuclear energy and energy-intensive industries, amid strategic restructuring and rising tariff pressures.
The French government has appointed Bernard Fontana to lead EDF, relying on his experience in nuclear energy and energy-intensive industries, amid strategic restructuring and rising tariff pressures.
Kazakhmys, the leading copper producer in Kazakhstan, partially suspends its operations after the death of eight workers. The company is conducting an inspection of its facilities to ensure operational safety.
The European Southern Observatory (ESO) warns of the potentially devastating consequences of a power plant project near its telescopes in the Atacama Desert, highlighting irreversible light pollution.
The European Southern Observatory (ESO) warns of the potentially devastating consequences of a power plant project near its telescopes in the Atacama Desert, highlighting irreversible light pollution.
The recent elections in Greenland resulted in a victory for the Demokraatit party, which advocates gradual independence from Denmark and increased support for the exploitation of natural resources, prioritizing the mining and energy sectors. This election comes amid heightened international tensions, notably due to proposals by Donald Trump to annex the territory.
The recent elections in Greenland resulted in a victory for the Demokraatit party, which advocates gradual independence from Denmark and increased support for the exploitation of natural resources, prioritizing the mining and energy sectors. This election comes amid heightened international tensions, notably due to proposals by Donald Trump to annex the territory.
In January 2025, Italy recorded a trade deficit of €264 million, largely attributed to the rising energy costs, according to the National Institute of Statistics (Istat).
In January 2025, Italy recorded a trade deficit of €264 million, largely attributed to the rising energy costs, according to the National Institute of Statistics (Istat).
Nigerien authorities have ordered the expulsion of three Chinese executives from oil companies and shut down a hotel owned by a Chinese company. This decision is part of a policy aimed at strengthening national control over the country’s energy resources.
The French government has issued a decree expanding the use of treated wastewater to industrial and nuclear sectors, aiming to reduce pressure on water resources.
The French government has issued a decree expanding the use of treated wastewater to industrial and nuclear sectors, aiming to reduce pressure on water resources.
An incident in a private power plant caused a nationwide blackout in Panama on Saturday night. The national power grid was severely impacted, leading to an interruption in the potable water supply. Authorities are investigating the causes of the event.
An incident in a private power plant caused a nationwide blackout in Panama on Saturday night. The national power grid was severely impacted, leading to an interruption in the potable water supply. Authorities are investigating the causes of the event.
UK greenhouse gas emissions decreased by 3.6% in 2024, marking a slowdown in the pace of reduction. The end of coal usage in electricity production and the rise in electric vehicles contributed to this trend.
UK greenhouse gas emissions decreased by 3.6% in 2024, marking a slowdown in the pace of reduction. The end of coal usage in electricity production and the rise in electric vehicles contributed to this trend.

Advertising