Brazil’s Petrobras on the hunt for next Chief Sustainability Officer

Brazilian oil and gas company Petrobras has announced the departure of its Chief Energy Transition and Sustainability Officer Mauricio Tolmasquim and appointed an interim CSO while it seeks a permanent replacement.

Tolamsquim has left the company to join the board of Brazilian utility Eletrobras – a role deemed incompatible with his Petrobras responsibilities.

William França, Chief Industrial Processes and Products Officer, has taken on energy transition and sustainability responsibilities in addition to his current role until a new CSO is appointed. The company’s announcement suggests that – unlike competitor BP – Petrobras doesn’t plan to eliminate its top sustainability role.

Scrutiny over Petrobras Amazon exploration

Petrobras’ 2050 plans include increasing oil and gas production and “constant efforts to replace reserves”, while aiming for net zero operational emissions.

The company has been under scrutiny over plans to drill for oil in the Amazon basin – yet it recently received a green light from Brazil’s environmental protection agency, Ibama, allowing it to run oil spill response tests in the region. This is seen as the last environmental licensing step before exploration can begin. 

Ibama’s decision was unexpected after it initially rejected Petrobras’ crisis response plans two years ago, with observers pointing to political pressure applied by President Lula’s government to allow Brazil – the host of the COP30 climate change conference this November – to produce more oil.

Petrobras carbon credit and CCS ambitions

To offset the emissions of its expanded oil production, Petrobras is investing in carbon credits – including a US$77 million programme to restore degraded Amazon rainforest areas and capture 15 million tonnes of CO2.

In April, Petrobras shareholders also approved the inclusion of carbon capture and storage (CCS) activities in the company’s articles of incorporation, with feasibility studies already underway in five Brazilian states.

By the end of this year, Petrobras aims to have reinjected 80 million tonnes of CO2 in CCS projects, and the capture, storage and utilisation of CO2 may soon become another business segment for the oil and gas giant.