Slower, lower, weaker: Brazil under Rousseff
Brasilia’s political crisis is deepening. Is there still hope for energy investors?
BRAZIL’S president Dilma Rousseff has suffered some blows lately – but none as stunning as that in April, when the lower house of congress voted overwhelmingly for her impeachment. The decision has tipped Latin America’s largest economy, and one of its most important oil producers, into its worst political crisis in decades and sets up a long and ugly period for the country. “It’s not the beginning of the end. We’re at the beginning of a fight – a long, drawn-out fight,” Rousseff, the former guerrilla fighter, declared after the vote. Besieged by a faltering economy and an epic corruption scandal at Petrobras, Rousseff now sees her political fate rest with Brazil’s upper house. Given the wid
Also in this section
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
22 April 2026
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
