Building energy bridges between Brazil and the EU

Flaubert Matos Machado is Head of Health, Safety and Environment for Petrobas- Brazil’s state-controlled energy company, & IOGP Board Member   

Brazil accounts for 4-5% of the EU’s oil imports. How do extraterritorial regulations impact this trade?

FMM: "To maintain — and potentially increase — access to the EU market, Petrobras has invested in cleaner production methods, improved emissions reporting, and alignment with evolving regulatory frameworks.

First, we are reducing the carbon intensity of oil production, making Brazilian crude more competitive in markets with strict emissions regulations. We are also ramping up investments in Carbon Capture and Storage (CCS), biofuels, and other low-carbon solutions.

Second, we are strengthening ESG compliance and transparency through carbon accounting and certification. This includes adherence to standards such as OGMP 2.0 for methane emissions and the Zero Routine Flaring initiative — both of which demonstrate our commitment to lower emissions and compliance with EU expectations.

Finally, we have adopted best practices in environmental stewardship, including biodiversity protection and water resource management, in line with European ESG standards."

In your view, what role does IOGP play for Petrobras?

FMM: "The International Association of Oil & Gas Producers (IOGP) plays a strategic role for Petrobras, offering value across several key areas. I would particularly highlight IOGP’s contribution to shaping global industry standards and best practices — in safety, environmental performance, engineering, the energy transition, and operational efficiency — all within a pre-competitive framework.

In the regulatory and policy advocacy space, IOGP helps inform discussions on global methane emission policies, carbon markets, climate-related reporting frameworks, and other emerging regulations that may impact our operations."

How can Brazil and the EU collaborate to ensure regulatory alignment while maintaining a stable oil trade relationship?

FMM: "Brazil can be a reliable energy supplier to the EU thanks to its strong commitment to a just energy transition. Balancing energy security, affordability, and competitiveness with sustainability is a strategic priority for both sides. A structured dialogue between governments, industry leaders, and trade groups is essential to ensure that regulatory frameworks support both climate objectives and economic stability."