Bolsonaro turns up heat on Petrobras

Threat of subsidies and political interference grows as under-pressure president refuses to accept rising domestic fuel prices

Management at Brazilian state oil and gas firm Petrobras has been a revolving door under President Jair Bolsonaro. The NOC has had four CEOs in the nearly three-and-a-half years since the president took office, and the dysfunctional relationship shows little sign of improving. Caio Paes de Andrade—a former economy minister official who, once again, has zero oil and gas experience—is the latest to take the top job as Bolsonaro tries to wrest control of the company. For months, Brazil’s president has raged at the NOC’s fuel-pricing policy, which, combined with rising inflation, has seen him drop behind former president Lula da Silva in the polls ahead of October’s general election. Focusing on

Welcome to the PE Media Network

PE Media Network publishes Petroleum Economist, Hydrogen Economist and Carbon Economist to form the only genuinely comprehensive intelligence service covering the global energy industry