Brazil Weekly

Bolsonaro intervention could create ‘Black Monday’ for Petrobras

Effects of Bolsonaro's interference in Petrobras. The state of Acre faces a perfect storm of floods, epidemics, and a migrant crisis.

This week, we examine the negative knock-on effects of Jair Bolsonaro’s interference in Petrobras. The northern state of Acre faces a perfect storm of floods, epidemics, and a migrant crisis. 

The hand on Petrobras is not invisible

Petrobras, Brazil’s state-controlled oil and gas firm, is under military intervention. On Friday evening, President Jair Bolsonaro announced his administration is pushing for a change in the company’s leadership — replacing CEO Roberto Castello Branco with retired Army General Joaquim Silva e Luna, who was at the helm of the massive Itaipu dam.

What’s behind the move. Mr. Bolsonaro was growing frustrated...

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