Petrobras head says Brazil must choose between fossil fuel phaseout and tax revenue

Petrobras head Magda Chambriand stated Brazil must choose between phasing out fossil fuels and preserving tax revenue from the sector, highlighting the country's conflicting climate and economic priorities. Brazil promotes fossil fuel transition in international forums but invests in new drilling, including near the Amazon River, while President Luiz Inácio Lula da Silva supports these economic developments. Environmental groups criticize Chambriand's stance for undermining climate goals.