“Under our analysis, we see Brazilian production starting to decline around 2029-30,” Welligence’s Fagundes said. “Given how long it takes to develop a big field, [Petrobras] needs to start finding new reserves.”
President-elect Luiz Inacio Lula da Silva has selected a senator and former Petrobras official to lead Brazil’s state-controlled oil giant with the aim of turning it into a renewable energy powerhouse.
Brazil's former president Luiz Inacio Lula da Silva was detained by federal police detained for questioning in an investigation of a bribery and money laundering scheme that they said had financed campaigns and expenses of the ruling Workers Party.
