The former and incumbent presidents square off in a recent debate
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
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
