Petrobras to Remain State-Owned Under Bolsonaro, Adviser Says

07:37 PM EDT, 10/21/2026 (MT Newswires) -- Petrobras would remain state-owned if Flavio Bolsonaro wins Brazil's presidential runoff, while its future leadership would have flexibility to reshape the company's portfolio, Bloomberg reported Wednesday, citing energy adviser Alexandre Chequer. Chequer said decisions on investments and asset sales should be left to Petrobras' future management. He also criticized the company's renewed investment in fertilizers, saying it lacks expertise in the industry. Bolsonaro's campaign is seeking to attract private investment by reducing regulatory costs and streamlining approvals. Proposals include scrapping the 12% tax on oil exports, Bloomberg reported.