CORDOBA, ARGENTINA--October 19, 2022--Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Brazil is preparing for a presidential election on October 30, in what could represent a total shift in the nation's energy policy. After winning the first round of the elections on October 4 with 48.4% of the votes, former president and leftist leader Luiz Ignacio Lula da Silva said he will promote the self-sustainability of Brazil's refining industry, objecting to the privatization of the national oil company. Incumbent President Jair Bolsonaro has been a steadfast advocate of the divestment of energy companies in Brazil, leading to the sale of Petrobras' downstream and midstream units.

The reality is that Brazil could be looking at a shift in its energy policy. Lula would propose a more nationalistic approach, focused on state companies and the control of fuel prices. Meanwhile, Bolsonaro likely would continue with his divestment efforts while keeping fuel prices under check.