Welligence Brazil Corporate & Politics | How will Petrobras adjust to Lula?

March 3, 2023

During President Lula’s presidency campaign, he promised to lower and “Brazilianize” domestic fuel prices. To keep this promise, the government and Petrobras would have to reduce the dependency on refined product imports, alter the company’s current fuel price policy (indexed to international oil prices) and re-balance the federal and state fuel taxes.