Brazil will drill: why a global transition leader is set on oil and gas expansion

Offshore Technology · Eve Thomas · 2026-10-19 10:59 UTC

Brazil leads in clean energy but – whether Lula or Bolsonaro wins – the next government will charge ahead with oil and gas expansion.

Brazil’s older basins are declining. Campos and Espírito Santo were once the beating heart of South American oil production, but declining output has left Brazil with a choice: scale up exploration and production (E&P) or risk becoming a hydrocarbon importer.

Both current president Luiz Inacio Lula da Silva and opposition leader Flávio Bolsonaro back the former. Despite the country’s position as an energy transition leader, with the lowest share of fossil fuels generating power among G20 countries, Brazilian politicians across the political spectrum largely deny that there is a conflict.

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