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
11 August 2025
The administration is pushing for deregulation and streamline permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
