Petrobras in the crosshairs as election run-off looms
Ballot box verdict could prove existential for the NOC, amid controversial calls from the incumbent to break apart the Brazilian energy giant
Brazilian state oil and gas firm Petrobras marked its 69th birthday in early October. But the NOC’s future as a state entity may depend on the outcome of the second round of elections pitting incumbent Jair Bolsonaro against former president Lula da Silva. Throughout the election campaign, Bolsonaro has repeatedly flirted with market intervention and threatened to privatise the state juggernaut as early as next year should he win re-election. Bolsonaro’s argument, backed by economy minister Paulo Guedes, is that breaking Petrobras’ monopoly will lower domestic fuel prices. Importantly, it would also take the political pressure off the government. Since taking office, Bolsonaro has sacked and
Also in this section
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing