Magda Chambriard

When Magda Chambriard took over as the CEO of Brazil’s state-run oil giant in 2024, it was a sort of homecoming: She started her career as a Petrobras engineer in 1980. In the interim, she ran Brazilian oil and gas regulator ANP. She took over Latin America’s largest oil producer at a rocky time, becoming its sixth CEO in five years, but she’s already received a two-year contract extension to 2027. Revenue is down 17.7% year on year to $102.5 billion, a drop attributed in part to falling oil prices and a decrease in exported crude oil revenues. Chambriard’s controversial turnaround plan includes drilling near the Amazon River to accelerate exploration and production; reviving Brazil’s fertilizer plants, refineries, and gas lines; and stepping up sustainability efforts with the goal of reaching net-zero carbon emissions by 2050. Low-carbon investments have more than doubled under her leadership. In the next five years, $11.5 billion is allotted to decarbonizing projects, biorefining, renewables, and new low-carbon businesses.