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Monday, July 13, 2026

Lula Da Silva: Petrobras will not be ‘sliced’ and Banco do Brasil will not be privatized

By · November 10, 2022 · 3 min read

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President-elect Lula Da Silva (PT) said this Thursday (10) that Petrobras will not be “sliced” and that Banco do Brasil will not be privatized in his future government.

Lula Da Silva made the statement while speaking at a meeting with allies at the Banco do Brasil Cultural Center (CCBB) in Brasília, where the transition of government is taking place. This was Lula Da Silva’s first visit to the site.

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Throughout this year’s campaign, PT criticized the sale of Petrobras subsidiaries and the proposal by the Jair Bolsonaro government for Petrobras and Banco do Brasil to be privatized.

“I want to tell you that Brazilian public companies will be respected. Petrobras will not be sliced, I want to say that Banco do Brasil will not be privatized, as well as Caixa Econômica and BNDES, BNB and Basa will return to being investment, including for small and medium entrepreneurs”, declared Lula Da Silva this Thursday.

Lula Da silva has said in his speeches that Brazil needs to see expenses in areas such as health and education as an investment and not as an expense (Photo internet reproduction)
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In the same speech, Lula Da Silva said that:

  • Alckmin will not be government minister
  • Maintains commitment to fighting hunger
  • Will wear the green and yellow shirt in the World Cup

Also during this Thursday’s speech, Lula Da Silva questioned the fact that Brazil has an inflation target, but no growth target.

Lula Da Silva has said in his speeches that Brazil needs to see expenses in areas such as health and education as an investment and not as an expense, so that it can invest resources and make the country’s economy grow.

He also said that the President of the Republic needs to have credibility, behaving in such a way that, when he says something, society understands that it is something serious.

“And only the state can make the decisions that can guarantee political stability, economic stability, legal stability and social stability,” he said.

ALCKMIN WILL NOT BE MINISTER

During his speech to allies in Brasília, Lula Da Silva said that vice president-elect Geraldo Alckmin (PSB) will not be a minister in the future government.

Former governor of São Paulo, Alckmin coordinates the transition team and divided the work into groups, which discuss, for example, health, social development and the economy.

“I made a point of putting Alckmin as coordinator so that no one would think that the coordinator will be a minister. He does not run for minister because he is the vice president,” Lula Da Silva declared this Thursday.

I CRY WHEN TALKING ABOUT HUNGER

Still in the speech, Lula Da Silva cried when he stated that he maintains his commitment to fighting hunger in the country.

“If, when I finish this term, every Brazilian is drinking coffee, having lunch and having dinner, once again I will have fulfilled my life’s mission,” Lula Da Silva said.

At that moment, the president-elect began to cry. Lula Da Silva, then, was applauded by those present at the meeting.

Afterwards, Lula Da Silva took the floor again and said that he “never expected” that hunger would “return” to Brazil.

GREEN AND YELLOW SHIRT

Lula Da Silva also said that he will wear the green and yellow jersey of the Brazilian team with the number 13 during the games of the World Cup, which takes place in Qatar from 20 November.

The green and yellow shirt came to be associated with supporters of President Jair Bolsonaro, Lula Da Silva’s opponent in the elections.

“The World Cup starts soon, and we don’t have to be ashamed to wear our green and yellow shirt. The green and yellow is not a candidate, it’s not a party. Green and yellow are the colors for 213 million inhabitants who love this country. Therefore, you will see me with the green and yellow shirt, only mine will have the number 13”, said Lula Da Silva.

With information from g1

Live Company IntelligencePetroleo Brasileiro Petrobras SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
Rio Times · Live Ticker Intelligence
Petroleo Brasileiro Petrobras SA ADR
PETR4 · B3 São PauloEnergyOil & Gas Integrated
Share price · live
$39.65
▲ +1.12% today
Market cap
$111.6 bn
3.7 bn shares
P / E
5.5
EPS 3.14
Dividend yield
17.6%
$2.99 / share
The company
Employees
43,199
Headquarters
Rio De Janeiro
Listed since
2000

Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and…

Financial performance · FY · USD
RevenueNet income
2023
$105.5 bn
$25.7 bn
2024
$91.4 bn
$7.5 bn
2025
$88.1 bn
$19.7 bn

Net income declined to $19.7 bn in 2025, from $25.7 bn in 2023.

Valuation & returns
EBITDA margin
40.9%
Net margin
21.6%
Return on equity
25.6%
Price / book
1.30
Enterprise value
$167.7 bn
Revenue growth · YoY
+0.4%
Latest earnings
Q1 2026 — reported EPS 0.96 vs 0.99 expected
Missed −3%
Peers & comparators
IBOV
▲ +2.97%
USD/BRL
▼ -0.04%
BRENT
▲ +4.09%
Data: EODHD Fundamentals & live feed · The Rio Times Ticker Intelligence

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