Brazilian president Jair Bolsonaro
Bolsonaro turns up heat on Petrobras
Threat of subsidies and political interference grows as under-pressure president refuses to accept rising domestic fuel prices
Management at Brazilian state oil and gas firm Petrobras has been a revolving door under President Jair Bolsonaro. The NOC has had four CEOs in the nearly three-and-a-half years since the president took office, and the dysfunctional relationship shows little sign of improving. Caio Paes de Andrade—a former economy minister official who, once again, has zero oil and gas experience—is the latest to take the top job as Bolsonaro tries to wrest control of the company. For months, Brazil’s president has raged at the NOC’s fuel-pricing policy, which, combined with rising inflation, has seen him drop behind former president Lula da Silva in the polls ahead of October’s general election. Focusing on
Also in this section
10 June 2025
The bloc may find it very difficult to replicate Japan’s approach due to fundamental differences in policy and the markets
10 June 2025
Scapegoating foreign buyers will not solve country’s gas shortages
10 June 2025
US gasoline consumption is at its high level since before COVID, but while stocks remain healthy, the hurricane season threatens
10 June 2025
There has been a flourishing of non-governmental initiatives aimed at incentivising voluntary action on emissions over the past five years, and momentum is not slowing down.
