Weekly Report - 12 May 2022 (WR-22-19)

BRAZIL | Petrobras. President Jair Bolsonaro used a social media livestream broadcast on 5 May to launch an attack on the “unacceptable” and “criminal” profits of the state-owned energy company Petrobras. Bolsonaro anticipated that Petrobras would announce first quarter profits of around BRL40bn (US$7.95bn). In the event, Petrobras actually released official results later in the day showing profits of BRL44.56bn, one of the best quarterly results in the company’s history.