Petrobras Broadens Approach to Transition

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Petrobras' energy transition strategy has been relatively narrow, focusing on low-carbon oil, decarbonization of operations, advanced biofuels and green technology R&D despite investor pressure to do more. But climate leadership is important for Brazil's re-elected leftist President Luis Inacio Lula da Silva and his handpicked Petrobras CEO Jean Paul Prates, who wants to “move faster” on the transition while still riding the tide of pre-salt oil. After internal studies, the Brazilian national oil company (NOC) has now designated offshore wind, hydrogen and carbon capture as strategic areas, its chief energy transition and sustainability officer, Mauricio Tolmasquim, tells Energy Intelligence.

Corporate Strategy , Renewable Electricity , NOCs, Low-Carbon Policy, ESG, Biofuels (incl. SAF), Carbon Capture (CCS), Hydrogen
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