By Brazil Stock Guide – Petrobras (BVMF:PETR4) Chief Executive Officer Magda Chambriard reaffirmed on Thursday the company’s target of expanding production by 60% over the next 25 years to maintain its dominant role in Brazil’s energy generation. The statement came during the CNT Forum of Debates in Brasília, which brought together government officials and business leaders from the energy sector.
According to Broadcast, Chambriard said the state-controlled oil giant currently supplies about 31% of Brazil’s primary energy — before conversion — and aims to sustain that share through an accelerated transition toward renewable sources.
“We want to continue representing at least 31% of Brazil’s energy generation by 2050. How will we achieve this? By adding more and more renewable energy. Petrobras needs to grow alongside Brazil,” Chambriard said. “To reach this goal, we estimate Petrobras must grow 60% in the next two and a half decades, ensuring that at least 10% of the country’s primary energy consumption comes from renewables.”
The CEO also discussed progress on environmental licensing for Block 59 in the deep waters off Amapá, part of the Equatorial Margin. Petrobras expects to complete drilling by March 2026. Chambriard emphasized that oil exploration should deliver economic benefits to Brazil’s North and Northeast regions.
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