By Brazil Stock Guide – Shell Brazil is changing leadership after a major expansion cycle in the country. Cristiano Pinto da Costa has decided to leave the company after nearly 30 years at Shell, including four years as president of Shell Brazil.
He will be replaced by João Santos Rosa, currently president of Shell in Italy, who will take over on August 1, 2026. Santos Rosa will also become Executive Vice President for Brazil within Shell’s global Upstream business.
Under Pinto da Costa, Shell increased production in Brazil by about 25%, surpassing 500,000 barrels per day in March 2026. The company also expanded its exploration and production portfolio from around 30 contracts to more than 70, including new positions in the Santos South and Pelotas basins.
Orca at the center
The main milestone of Pinto da Costa’s tenure was the final investment decision for Orca, a deepwater oil project whose first production is expected in 2029. The project reinforces Brazil’s role as one of Shell’s most important growth platforms in global upstream.
Shell also expanded its research and development portfolio in Brazil. The company currently invests around $120 million per year in R&D through a program regulated by Brazil’s oil agency, ANP.
During Pinto da Costa’s leadership, Shell also tripled its social investment and sponsorship spending, increasing its presence in sports, education and culture through federal incentive programs.
A continuity move
Santos Rosa, who was born in Portugal, has more than 20 years of experience in the energy sector. He joined Shell in 2002 and has held roles in the United Kingdom, Australia, the Netherlands and the United States, working across upstream, trading, strategy, marketing and new business development.
The transition has already formally begun and will be completed on August 1. Until then, Pinto da Costa will remain fully responsible for the role.
The move does not look like a rupture. It looks like a succession after key milestones were secured. Pinto da Costa leaves Shell Brazil larger, more productive and with Orca approved. Santos Rosa arrives with the harder task: turning that portfolio into production, cash flow and long-term relevance for Shell’s global upstream business.