11:32 AM EDT, 09/16/2025 (MT Newswires) -- Petroleo Brasileiro (PBR), or Petrobras, was urged Tuesday by a group of environmental organizations under the Climate Observatory in Brazil to accelerate its energy transition in a bid to help the country meet its greenhouse gas emission commitments and reduce its dependence on "volatile" cash flow from oil.

The Climate Observatory said Petrobras' business plan for 2025 to 2029 entails $111 billion in investments and only $9.1 billion will go to low-carbon energy. Brazil has also been expanding its oil and gas production and is increasingly dependent on crude oil exports, according to the group.

"The best option is to begin a genuine energy transition for Petrobras now, diversifying its portfolio," the Climate Observatory said, citing a paper from 30 organizations under its energy working group and another document from two economists with the Federal University of Rio de Janeiro.

Petrobras did not immediately respond to MT Newswires' request for comment.

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