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jose chalhoub

What will happen with PETROBRAS after upcoming second round of elections in Brazil?

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Sunday 28th will be held second round of elections in Brazil with almost predictable outcome, which is the triumph of ultra rightist Jair Bolsonaro (many times dubbed the Trump of the Tropics). Aside from all whats been talked about him and his aggressive postures on many issues creating polemic and polarisation in the brazilian public opinion ahead of these elections, one important issue is to watch the developments of Petroleos Brasileiros (PETROBRAS).

Once a vanguardist offshore international company, then recently hugely undermined by corruption scandals under Lula da Silva mandates and also Dilma Rousseff by the scandal of Lava Jato, now trying to wash its image, PETROBRAS will face important challenges with this next administration, such as for example, will it be completely privatised as it is now partly state owned and partly private.

Also its ethanol markets and many other concerning issues, which if adequately handled could push Brazil ahead as oil producer as Venezuela lags further behind and as uncertainties loom for mexican oil sector with the Lopez Obrador leftist rule upcoming soon and other problems facing countries like Colombia and Ecuador and with the only promise of Guyana as the next big producing country in South America. Important to watch upcoming developments in Brazil. 

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