31 Aug, 23

Brazil’s Pre-Salt Oil Gains Unprecedented Global Popularity

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Despite financial markets being roiled by leftist Luiz Inácio Lula da Silva’s, known as Lula, October 2022 electoral victory, there are signs that Brazil’s president will continue to support the country’s burgeoning oil boom. Even after Lula railed against what he described as the national oil company Petrobras’ excessive dividend and implemented a shock temporary oil export tax, the government continues to support Brazil’s economically crucial hydrocarbon sector. In a recent development, Lula backed Petrobras’…

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