The Workers’ Party platform organizes energy policy around Petrobras, calling for expanded onshore and offshore exploration to recover control of national reserves, increased refining capacity, and return to fuel distribution. Lula justified continued fossil fuel development by arguing oil revenues can finance renewable energy transition, stating Brazil should not immediately abandon hydrocarbons while building alternatives.
Opposition candidate Flávio Bolsonaro’s Liberal Party platform continues Lula-era energy policies but omits Petrobras references, emphasizing that the state’s role is “not to be the entrepreneur” but to ensure functionality. Campaign coordinator Rogério Marinho stated on August 18 that while all state companies will undergo efficiency assessments, no privatization plan exists for Petrobras.
Ronaldo Caiado’s Social Democratic Party platform mentions Petrobras once, promising “governance, efficiency and investment, without partisan use or artificial price control,” though Caiado has indicated willingness to privatize gas segments. Romeu Zema’s New Party proposes deverticalizing Petrobras by separating production, refining, transport and logistics into different companies to enable competition, though privatization is only mentioned under a general directive to sell all state enterprises. Renan Santos’ Mission Party focuses on renewables and biofuels without addressing Petrobras, having ruled out privatization despite pro-market positioning.
The Amapá event accompanied Lula’s reconciliation with Senate President Davi Alcolumbre following months of strained relations, with Lula praising congressional agenda advancement including security constitutional amendments and critical minerals legislation. Petrobras announced hydrocarbon discovery at the Morpho well on August 14, located 175 kilometers offshore in deepwater, though commercial viability remains unconfirmed. The company plans 15 additional Equatorial Margin wells through 2030 with estimated investments of $2.5 billion.
This article was curated and published as part of our South American energy market coverage.
