Petrobras' new CEO, Magda Chambriard; Source: Petrobras

New CEO takes the reins at Petrobras

Brazil’s state-owned oil and gas giant Petrobras has confirmed that a new Chief Executive Officer (CEO) will take over the company, after securing the board of directors’ seal of approval, which enables the Brazilian player’s new boss to become its latest member.

Petrobras' new CEO, Magda Chambriard; Source: Petrobras

Magda Chambriard’s appointment was approved at a meeting held on May 24, 2024, nine days after Clarice Coppetti was named interim CEO. Chambriard was nominated by Brazil’s Ministry of Mines and Energy (MME) to replace Jean Paul Terra Prates, the company’s former CEO who stepped down from his positions as CEO and member of the board of directors.

With a Master’s degree in Chemical Engineering and a degree in Civil Engineering, Chambriand specializes in reservoir engineering and formation evaluation, coupled with oil and gas production.

After working at Petrobras for 22 years, she was assigned to the Brazilian National Agency for Petroleum, Natural Gas, and Biofuels (ANP) as an advisor to the Exploration and Production Directorate in 2002. Six years later, she assumed the position of Director at ANP, moving on to become General Director in 2012. 

Amid management changes, the Brazilian heavyweight awarded two newbuild contracts for a pair of floating production, storage, and offloading (FPSO) units to Seatrium after announcing plans to put 14 FPSOs in operation from 2024 to 2028. 

The new FPSO duo is expected to produce 30% less greenhouse gas (GHG) emissions, in line with the firm’s commitment to decarbonization outlined in its Strategic Plan 2024–2028.