Petrobras’s Turmoil Is a Prelude to Brazil’s Presidential Brawl

A messy leadership battle at Petrobras, Latin America’s biggest oil producer, is setting the stage for Brazil’s contentious presidential campaign and highlighting the complex tensions between the company’s pursuit of profits and its role as a tool of populist policy.

Since the weekend, President Jair Bolsonaro’s choices for chief executive officer and chairman have abruptly pulled out in a public relations fiasco. The fact that Bolsonaro is changing management so late in his term underscores Petrobras’s political importance at a time when voters blame him for high pump prices, made worse by Russia’s invasion of Ukraine.