Brava Energia Announces Board Restructuring and Executive Resignations Amid Operational Challenges
Brava Energia trims its board and executives amid operational setbacks and plans leadership consolidation to boost governance and efficiency.
- • Brava Energia reduces its board by one director to streamline processes and governance.
- • CFO Rodrigo Pizarro and director Pedro Medeiros resign from their roles.
- • CEO Décio Oddone takes on interim CFO duties and permanently manages New Business.
- • Potiguar Basin operations interdicted by ANP, causing a 3,500 boe/d production loss in October.
Key details
Brava Energia has initiated a significant restructuring of its executive leadership and organizational structure. Announced on October 21, 2025, the company will reduce its board of directors by one position to simplify and optimize corporate processes, strengthen governance, and better integrate its business areas. This reorganization includes consolidating the finance, investor relations, trading, and commercialization units under a single directorate.
The restructuring follows the resignation of two key executives: CFO and director of Investor Relations Rodrigo Pizarro, and Pedro Medeiros, director of New Business, Trading, and Downstream. CEO Décio Oddone will temporarily assume the CFO responsibilities in addition to permanently overseeing New Business operations. Additionally, downstream operations will be merged with onshore operations under the leadership of Jorge Boeri, director of onshore operations.
Brava Energia also faces operational challenges related to a temporary interdiction by the National Agency of Petroleum, Natural Gas, and Biofuels (ANP) affecting its Potiguar Basin facilities. This has led to an estimated production loss of around 3,500 barrels of oil equivalent per day (boe/d) for October, approximately 3.8% of the company's average production in Q3 2025. The company is working to implement the necessary actions to resume full production, expecting to complete restorative measures by the end of the fourth quarter of 2025.
These changes reflect Brava Energia's strategic intent to enhance its operational efficiency and governance while navigating short-term disruptions caused by regulatory interventions. The confidential process for appointing a new CFO is underway.
This major reshuffling highlights the company’s focus on streamlining leadership roles and organizational complexity in a challenging operational environment.