Brazil's former president Lula attends a news conference in Sao Bernardo do Campo
Lula return casts a cloud for Petrobras
Court case vindication could open the door to next year’s election, with implications for the NOC and wider energy reforms
Failure to successfully coordinate and distribute vaccines against the spread of a virulent new strain of Covid-19 has left Brazil in the throes of a national crisis, with a healthcare system on the brink of collapse and a fourth health minister in less than a year. And it could also yet usher in a stunning political return with significant implications for Petrobras. President Jair Bolsonaro’s efforts to discredit vaccines and fund unproven drugs have done little to claw back plunging approval ratings. And news that Bolsonaro’s archnemesis—and former president—Luiz Inacio Lula da Silva could also be free to run in next year’s election has only added to government anxieties. “If the ch
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
