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Petroleo Brasileiro (Petrobras)

Petróleo Brasileiro SA (Petrobras) is a publicly listed fully integrated oil and gas company headquartered in Brazil, with 36.7% owned by the government of Brazil. In 2020, it had USD 5.28 billion in revenue and a reported 46,416 employees*. Petrobras continues to focus on oil and gas activities, with limited intention to initiate a large-scale transition to new low-carbon business activities such as renewable electricity.

Ranking position
#37/100
Total score
7.9/100
Performance score
3.3/20
Narrative Score
ABCDE
Trend Score
  • Trend line is up
  • Trend line is equal
  • Trend line is down
Performance module name Performance module score Rank (0-100)

Targets

19.5 /100 #14

Material Investment

1.0 /100 #76

Intangible Investment

21.2 /100 #5

Sold products

15.8 /100 #8

Management

47.4 /100 #25

Supplier Engagement

12.5 /100 #33

Client Engagement

10.0 /100 #27

Policy Engagement

32.0 /100 #26

Business Model

3.8 /100 #50

Leading practices

No leading practices were identified for this company.

Risks and opportunities

Trend

Petrobras receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. Petrobras’ current fuel and sold product mixes are not sufficient to drive alignment with the company’s 1.5°C pathway. The limited ambition of its scope 1 and 2 emissions reduction targets and the lack of a scope 3 emissions reduction target suggest that the company’s performance is unlikely to improve.

Petrobras’ investment plans still focus on oil and gas activities. While it does have a small renewable electricity business, the company has limited deployment plans to scale this up and achieve the level of change required for a low-carbon transition in line with a 1.5°C scenario.

Progress towards the Paris Agreement

More about the company

Headquarters
Rio de Janeiro, Brazil
Group revenue
RRL 27,400,000,000 (USD 5.28 billion)
Ownership structure
Publicly listed with 36.7% owned by the government of Brazil
Number of employees
46,416
Scope of activity
Fully integrated
Website
https://www.petrobras.com.br/