Petrobras—back from the brink?
Brazil's state-run oil firm has had a brutal few years. Growth is its focus again, but a full recovery is still some way off
Sitting in the lobby of a central London hotel, surrounded by tall, plastic cups of expensive, milky coffee, I meet Petrobras chief executive Pedro Parente. A few feet away, across the plush carpet and marble floors, a pianist is setting the mood. The calm scene is in sharp contrast to some of the dramatic moments Brazil has experienced in the past 12 months. Not so long ago, violent protestors took to the capital's streets to demand the resignation of President Michel Temer. It was the latest turn in a years-long corruption scandal—so-called Lava Jato, or Carwash—that has crippled two former presidents and permeated right to the heart of Petrobras. Temer is clinging to power, for now. But n
Also in this section
9 May 2024
Pipeline boosts Canada’s oil industry by widening its export options, making it less reliant on US market and bringing Asia into the mix
8 May 2024
Despite Australia’s first import terminal nearing completion, the prospect of additional regasification projects is far from certain
7 May 2024
Ample stocks and a soft demand outlook will limit how much LNG Europe can import this year