Petrobras joins the Oil and Gas Climate Initiative

Petróleo Brasileiro SA - Petrobras informs that its CEO Pedro Parente has signed a Letter of Engagement, so that the company can become an effective member of the Oil and Gas Climate Initiative (OGCI).

The OGCI is a voluntary initiative that intends to lead the oil and gas industry to climate change. Launched in 2014, OGCI is currently made up of oil and gas companies that pool expert knowledge and collaborate on action and development of technologies to reduce greenhouse gas emissions.

Currently, the companies that are already part of the initiative are BP, CNPC, Eni, Pemex, Repsol, Saudi Aramco, Shell, Statoil and Total.

The adhesion to the OGCI is in line with Petrobras' strategy to prepare the company for a future based on a low carbon economy, as disclosed in its 2018-2022 Business and Management Plan, and reinforces the company's commitment to ensuring business sustainability of oil and gas.

The effective adhesion is still subject to approval by Petrobras' Board of Directors of the signing of the agreement with the institution (OGCI Climate Investments Members’ Agreement).