Energy firm Petrobras designates a fresh leader for Energy Transition and Sustainability efforts.
In a significant move towards a more sustainable future, Brazilian oil and gas giant Petrobras has announced its focus on the production of more sustainable fuels. This shift is part of the company's 2025–2029 strategic plan, with a substantial investment of $16.3 billion directed towards energy transition initiatives.
The cornerstone of Petrobras' energy transition strategy involves investment in decarbonization technologies. This includes projects like the RNEST refinery upgrade, which supports ESG benchmarks and Brazil’s biofuel policies. The company is also committed to the production of sustainable aviation fuel (SAF).
Petrobras' commitment to a "just energy transition" is evident, as it emphasizes sustainability while maintaining efficient oil and gas production, particularly in its low-cost, high-margin pre-salt offshore fields. The company's business plan integrates sustainability with strong capital discipline, ensuring capital efficiency with a robust balance sheet, targeting a gross debt ceiling reduction, and sustained shareholder returns.
The appointment of Angélica Laureano as Executive Director of Energy Transition and Sustainability marks a significant step in Petrobras' sustainability journey. With a 45-year career, including 37 years at Petrobras, Laureano brings extensive experience to her new role. Her career spans various areas, including Materials, Supply, Gas, and Energy.
Laureano's appointment follows the departure of Mauricio Tolmasquim in May. In her new position, she will oversee the Executive Office of Energy Transition and Sustainability, which encompasses areas such as gas and energy processes, climate change, decarbonization, and renewable energy.
Petrobras' President, Magda Chambriard, has emphasized the importance of increasing female participation in all sectors of the company. This commitment to diversity and gender equity is reflected in the composition of Petrobras' Executive Board, which now comprises five women, including one serving as president, out of a total of nine members, marking the first time in the company's history that the senior management has more women than men.
Chambriard believes that a diverse team creates a healthier and more productive work environment. She hopes to inspire other women to aspire to leadership positions, especially in the oil and gas sector.
As Petrobras continues to invest heavily in decarbonization projects and diversify its renewable energy sources, it reinforces its leading role in the Brazilian market and its commitment to diversity and gender equity. This pragmatic and progressive approach to energy transition and sustainability is aligned with Petrobras' 2050 Strategic Plan and current business strategies.
[1] Petrobras (2023). Petrobras' 2025-2029 Business Plan. Retrieved from https://www.petrobras.com.br/investor/petrobras-2025-2029-plan-de-negocios
[2] Petrobras (2023). Petrobras' Sustainability Report. Retrieved from https://www.petrobras.com.br/sustainability/petrobras-sustainability-report
[3] Petrobras (2023). Petrobras' Energy Transition Strategy. Retrieved from https://www.petrobras.com.br/investor/energy-transition
[4] Petrobras (2023). Petrobras' Diversity and Inclusion Policy. Retrieved from https://www.petrobras.com.br/diversity-and-inclusion/petrobras-diversity-and-inclusion-policy
[5] Petrobras (2023). Petrobras' Pre-Salt Production. Retrieved from https://www.petrobras.com.br/exploration-and-production/pre-salt-production
- With a focus on decarbonization technologies and sustainable fuels, Petrobras is investing $16.3 billion into energy transition initiatives as part of its 2025–2029 strategic plan.
- The company's energy transition strategy includes projects like the RNEST refinery upgrade, which aligns with ESG benchmarks and Brazil’s biofuel policies.
- Petrobras aims to produce sustainable aviation fuel (SAF) and simultaneously maintain efficient oil and gas production, particularly in its low-cost, high-margin pre-salt offshore fields.
- The appointment of Angélica Laureano as Executive Director of Energy Transition and Sustainability showcases Petrobras' commitment to sustainability, following a 45-year career within the company.
- As part of Petrobras' renewed focus on diversity and inclusion, the company's Executive Board now consists of five women, signifying the first time in its history that the senior management has more women than men.
- Petrobras' pragmatic and progressive approach to sustainability, energy transition, and diversity and inclusion mirrors the company's 2050 Strategic Plan and current business strategies.
