Magda Chambriard, president of Petrobras, has a direct response for those who doubt the company's potential: "Whoever bets against Petrobras will lose money."

In an interview with EXAME on the podcast De Frente com o CEO, the executive stated that the company is delivering more than the market expected, with increasing production, advanced platforms, and a central role in the country's energy matrix.

To support her assessment, Chambriard cites recent results.

For example, the latest production platforms from the state-run company were delivered up to three months ahead of schedule – a contrast to the past, which was marked by delays, according to the president.

The average time to connect a well has also decreased: from over a year to about seven months.

In the Búzios field, the most recent platform, with a capacity of 225,000 barrels per day, reached full production with just five wells, surpassing the daily production of some countries on its own.

"When someone says Petrobras is doing poorly, they are not looking at Petrobras correctly, they are not analyzing it properly. That's why I always like to warn: whoever bets against the company will lose money," says the president.

External pressure and global strategy

The recent tariff hikes announced by the U.S. government did not impact the oil sector, but Magda emphasizes that Petrobras has the flexibility to redirect exports.

"Our main market is Brazil. We export a lot to Asia, and the smallest portion goes to the U.S. Even so, we could shift to other markets if necessary," she says.

In the international comparison, she places Petrobras alongside giants like Shell, BP, Chevron, and Equinor, but reinforces:

"Our focus is Brazil, and we are committed to Brazilian society and energy generation in the country."

Energy transition and energy addition

While the term "energy transition" dominates global debates, Chambriard prefers to complement it with another concept: energy addition. For her, Brazil needs to drastically increase production to improve the Human Development Index (HDI).

"To reach the level of consumption in South Africa, we would need to generate 50% more energy per capita. If we want to approach countries like France and Germany, we need to build another Brazil in terms of energy. This means using all sources – fossil and renewable."

On this path, Petrobras bets on ethanol, biodiesel, low-carbon fuels, and investments in wind and solar energy projects.

Equatorial margin and the future of pre-salt

The executive also defended exploration on the equatorial margin, including the much-discussed block in the Foz do Amazonas basin.

"There is nothing inconsistent about it. We are talking about ultra-deep waters, more than 500 km from Marajó Island. Exploration is necessary to ensure the country's energy future."

According to the president, the expectation is that the pre-operational evaluation for drilling will be granted as early as next week.

Regarding the pre-salt, the president predicts growth until the beginning of the next decade. "We will have increased production until 2030 or 2032. After that, we will enter a decline, and that’s why we need to compensate with new reserves. The equatorial margin is part of that future."

Fuel and fertilizer prices

One of the most sensitive topics for the population is fuel prices. Magda explained that the state-run company no longer controls the distribution end.

"When Petrobras lowers the price at the refinery, often the distributor or reseller increases the margin. Since we are no longer at the distribution end, the discount doesn’t reach the final consumer," she says.

The company is also betting on the recovery of fertilizer plants (Fafens) and increasing the supply of natural gas, which is considered strategic.

"Breaking the vicious cycle of gas involves expanding the market and consumption, and fertilizers are part of this strategy," she says.

Leadership without fear

When asked about the skills required to lead such a large company, Chambriard was definitive.

"The first is not being afraid, and the second is knowing how to lead. Petrobras needs to contribute to society and investors, and that requires courage," she says.

Listen to the full interview with Magda Chambriard, CEO of Petrobras, on EXAME's De Frente com o CEO podcast. The material is available on both YouTube and Spotify (in Portuguese).

The text was translated with artificial intelligence. If you have any questions or corrections, please write to rafael.balago (at) exame.com.

Read the original article here.