Business · Energy & Commodities · 6 hrs ago
Gabrielli says Petrobras will lead energy transition and keep producing oil
José Sergio Gabrielli says Petrobras should take a larger role in Brazil’s energy transition while continuing to produce oil and gas.
Gabrielli, who led the state-owned company from 2005 to 2012, helped prepare the economic programme for Luiz Inácio Lula da Silva’s campaign.
He says a stronger Petrobras can support investment and help reduce the effect of international crises on fuel prices in Brazil.
He wants the company to expand sustainable aviation fuel and biofuels, as well as work on cutting industrial emissions.
The government has imposed a 12% tax on oil exports, and Gabrielli says it should remain while oil prices are high.
He says the tax policy should change if oil falls to $60–$70 a barrel, compared with about $115 at the time discussed.
The interview does not set out a timetable for the company’s plans.
José Sergio Gabrielli said Petrobras should play a larger role in Brazil’s energy transition while continuing to produce oil and natural gas.
He said the company should advance industrial decarbonization and production of sustainable aviation fuel and biofuels.
Gabrielli said an export tax on oil should remain while international prices are high, but could change if prices fall to US$60–US$70 a barrel.
He said strengthening Petrobras could support investment and help limit the effect of international crises on domestic fuel prices.
Gabrielli was a former Petrobras president and coordinated the economic program for Lula’s fourth campaign.
- Who
- José Sergio Gabrielli, former Petrobras president and coordinator of Lula’s economic program.
- What
- Gabrielli said Petrobras should lead a larger role in the energy transition while continuing oil and natural gas production.
- When
- In an interview published on October 27, 2026.
- Where
- Brazil.
- Why
- Gabrielli said Petrobras could support investment, industrial decarbonization and policies to reduce the domestic impact of international fuel-price shocks.
Gabrielli and Lula’s economic program
Flávio Bolsonaro’s program
Petrobras’s role
Gabrielli and Lula’s economic program
Gabrielli said the program should strengthen Petrobras and increase its role in the energy transition.
Flávio Bolsonaro’s program
Gabrielli said Flávio Bolsonaro’s program had no proposal for Petrobras.
Energy policy
Gabrielli and Lula’s economic program
Gabrielli said Petrobras should support investment and measures to limit the domestic impact of international prices.
Flávio Bolsonaro’s program
Gabrielli said the opposing energy program did not consider Petrobras.
Gabrielli served as Petrobras president.
Estadão published its interview with Gabrielli about Petrobras and energy policy.
- Gabrielli’s Petrobras presidency
- 2005–2012
- Oil export tax
- 12%
- Oil price cited for maintaining the policy
- US$115 a barrel
- Lower oil-price scenario cited by Gabrielli
- US$60–US$70 a barrel
- Proposed energy-transition areas
- Sustainable aviation fuel, biofuels and hydrogen derivatives
1 source
What people are saying
Petrobras has to increase its role in the energy transition.
When oil is at US$115, we will maintain this policy.
If it goes to US$60/US$70 a barrel, it is another scenario.