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
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
