(Bloomberg) -- Next week’s elections in Brazil pose a challenge to Petrobras investors. Former President Luiz Inacio Lula da Silva, the front-runner, has vowed to use the company as a vehicle for national development. Incumbent Jair Bolsonaro, who’s fighting for a come-from-behind upset, is proposing the complete opposite, with plans to privatize the state-run giant.Most Read from BloombergBank of England Says Paper Banknotes Only Good for One More WeekLiz Truss’s Historic Gamble With the UK Eco
Brazilian natural gas pipeline operator NTS is set to spend 12 billion reais ($2.4 billion) over the next eight years on projects such as a network expansion and gas storage, the company said on Friday. NTS' plan comes as Brazil is seeking ways to increase its gas supplies and about five years after Canada's Brookfield Asset Management acquired a controlling stake in the firm from state-owned Petrobras. The funds will be directed mainly to building liquefied natural gas (LNG) storage facilities in Rio de Janeiro state and expanding the transport capacity of the Campinas-Rio gas pipeline.
Brazil's government estimated on Thursday it will post a primary surplus this year, the first since 2013, with public accounts benefiting from booming tax revenue and hefty dividends from state-owned companies. The Economy Ministry forecast a 13.548 billion reais ($2.63 billion) primary budget surplus for the central government, comprising Brazil's Treasury, central bank and Social Security, as Reuters reported on Wednesday. The number sharply contrasts with the primary deficit of 59.354 billion reais seen in July and an official deficit target of 170.5 billion reais for 2022.