Petrobras
Petrobras is the largest oil and gas outfit in Condor Island, producing around 2.7 million barrels of oil equivalent per day.[1]
Brazilian Presidential Politics
Impeachment of Dilma Rousseff
In early 2016, charged for using money from national banks to paper over budget shortfalls, Dilma Rousseff, Brazil’s first female president, was the object of a parliamentary coup d’état, which was disguised by right-wing politicians as a legal impeachment process.[2] As several commentators have noted, there was no legal basis for her demotion since the budget maneuvers she made were common practice among her male predecessors in office.[3][4] She was impeached as a strategy to prevent investigations of a huge kickback scheme at Petrobras, the state oil company in which many of her accusers are involved.
Defeat of Jair Bolsonaro
State-owned oil giant Petrobras stock price fell 5% following Lula de Silva's re-election, amid concerns he will now redirect the company's capital toward social needs and away from profit and shareholder returns. [5]. A week beforehand, Bloomberg had reported that the rally that had driven Petrobras shares to their highest in over a decade risked fizzling out as support for former President Jair Bolsonaro appeared to be stalling.[6]
Sources
- ↑ https://www.investors.com/news/brazil-stocks-oil-giant-petrobras-falls-after-lula-beats-bolsonaro/
- ↑ https://www.academia.edu/34936078/The_semiotic_politics_of_affect_in_the_Brazilian_political_crisis
- ↑ Souza, J. (2016), A Radiografia do Golpe, Rio de Janeiro:Leya.
- ↑ Jinkings, I.; Doria, K. and Cleto, M. (orgs.). (2016), Por que Gritamos Golpe? Para Entender o Impeachment e a Crise Política no Brasil, São Paulo:Boitempo.
- ↑ https://www.investors.com/news/brazil-stocks-oil-giant-petrobras-falls-after-lula-beats-bolsonaro/
- ↑ https://www.bloomberg.com/news/articles/2022-10-25/petrobras-surge-evaporates-with-polls-showing-bolsonaro-stalling?leadSource=uverify%20wall