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4 Bidders Vie For Petrobras’ Búzios 12 FPSO Contract

Modec, Cooec, Seatrium-Ocyan and Hanwha-Bumi Armada are among the contenders for the contract

ANP Fines Petrobras US$ 186 K Over P-71 Violation

Agency found noncompliance in the risk analysis methodology used on the vessel

Environmental Regulator Opens 45-Day Window For Public Hearing Request On Shell’s Orca Project

Environmental review covers a campaign to drill up to 15 development wells in the Santos Basin pre-salt, to be connected to the Gato do Mato FPSO under construction

Edge & Compagas Advance Paraná LNG Project

Planned LNG storage and regasification facility in Londrina (state of Paraná) targets start-up in the second half of 2027

Brazil Extends Diesel Subsidy Of US$ 0.40 Per Liter For Another Month

Government renews the existing road-diesel subsidy for 30 days and maintains separate support of R$ 1.40 (US$ 0.26) per liter for importers to help stabilize domestic supply amid international price volatility

Brava Obtains Environmental OK For Atlanta Drilling Campaign – Up To 9 Wells Authorized

Operating license covers up to nine wells, although Brava’s current plan calls for two. Constellation’s Lone Star rig is expected to move from Papa-Terra to Atlanta after completing work at the Campos Basin field

ANP Issues 71 Violation Notices and Orders 24 Shutdowns

Inspections conducted from October 13 to 23 covered 18 Brazilian states and the Federal District

Lula’s Government Maintains Petrobras Expansion

Proposals for his fourth term include restoring Petrobras’ role in controlling oil and gas reserves, increasing investment in mature-field revitalization, returning to fuel distribution, expanding refining capacity and broadening Transpetro’s role in LNG logistics

PPSA To Hold 10th Spot Oil Auction On Wednesday, October 28

Auction will offer approximately 4.5 million barrels of crude oil from the Búzios field, with cargo liftings scheduled for December 2026

Government-Owned Natural Gas Auction Delivers Discounts Of At Least 30% For Industrial Buyers

All 5 participating industrial segments secured natural gas prices below their usual benchmarks, with discounts ranging from 38% to 57%, according to the Mines and Energy Ministry

Creditors Seek Involuntary Chapter 11 Bankruptcy For Braskem USA Subsidiary

Three investment funds are seeking to recover US$ 272 million in debt securities issued by Braskem America Finance Company, a financing subsidiary whose notes are guaranteed by the Brazilian petrochemical company

Karoon Selects TechnipFMC For Neon EPCI

Company also confirmed a revised version of the development concept for its Santos Basin asset

PPSA Auction Confirms Pent-Up Natural Gas Demand

PPSA CEO Luis Fernando Paroli expects proceeds to exceed R$ 350 million (US$ 69.7 M) and projects daily volumes of 1.8 million cubic meters for the 2027 auction

PetroReconcavo Proposes Subsidiary Spin-Off Ahead Of Sale To Keo Capital

Company plans to transfer SPE Tiêta’s O&G assets to a newly formed entity before selling the subsidiary for R$ 2.6 million (US$ 517,000). The transaction remains subject to regulatory approvals, closing conditions and shareholder approval

Petrobras Supports Gas Release Hearing Postponement

The company had already expressed a desire to extend the discussion, although ANP says the postponement was not requested by any “economic agent”

3.4% Annual Growth In Brazil Electricity Consumption Forecast 2026-36

Total demand is expected to reach 979 TWh in 2036, driven by data centers, electromobility and hydrogen production

Envision Negotiates Local Manufacturing To Compete In Brazil’s Battery Auctions

Chinese company in final talks with 3 Brazilian manufacturers to qualify for the December 2 auction requiring domestically manufactured batteries

ONS Revises Battery Connection Margins For 2026 LRCAP Auctions

Revision corrects data for the Milagres substations while maintaining the connection margin values for busbars eligible to host energy storage systems

Petrobras Secures ISCC Corsia Recertification For Reduc SAF

Audit conducted in the first half of October confirmed a significant improvement in the fuel’s environmental performance, lowering its carbon intensity and securing renewal of the international certification

Brazil Plans 7 Transmission Auctions 2027-2029

Ordinance sets auction dates and requires certain projects to have transmission system use agreements signed in advance by distribution utilities or free-market consumers

Reduced Power Costs Help Slow IPCA-15 October Inflation

The switch to the green tariff flag contributed to the decline. October National Grid 4.2% increase forecast

Itaú BBA Cuts Cemig Earnings Forecasts By Up To 53.8%

Bank revises estimates to reflect recent results, Gasmig’s tariff review, and updated assumptions for electricity prices, generation curtailment and hydrological risk

Brazil Seeks Public Input On Amazon Energy Program Targets, Using 2022 As Cost Baseline

Proposal calls for lower emissions, reduced fossil fuel consumption and lower electricity generation costs in isolated power systems by 2030 and 2035

Lula Pledges To Attract Data Centers With Renewable Energy

President-elect’s next-term agenda calls for energy efficiency, assessments of data centers’ impacts on power grids, and expanded investment in battery storage and transmission infrastructure

Electricity Distributors Reinforce Grid For Runoff Election

Measures include additional crews, real-time monitoring and preventive actions at facilities linked to the electoral process

Delta Energia Backs Cobre Implementation

Company says replacing the Newave and Decomp models with the new computational system is necessary to correct distortions in electricity price formation

Brasol Reports US$ 437 Million In Cumulative Brazil Investments

Company has more than 200 operating projects across 21 states and the Federal District and is expanding into battery energy storage

Brazil’s Supreme Court Clarifies 10-Year Deadline For Electricity Bill Refunds

Electricity distributors must return recovered PIS/Cofins tax credits to consumers through regulatory mechanisms; the 10-year limitation period begins when the distributors recover the funds or receive final approval of the tax offset

IRB(Seg) Targets Power Sector As It Enters Insurance Market

Insurer starts with large risks & sees the power sector as an area for product development.

TCU Sets Angra 3 Nuclear Plant Decision Deadline

Mines and Energy Ministry must submit updated studies to the National Energy Policy Council within 120 days. The council will then have another 120 days after receiving the documents to decide whether construction should resume or be abandoned

From The Media

OUT 28, 2026 - Reuters

President Luiz Lula da Silva's surprise reelection victory on Sunday (Oct. 25) dealt a harsh blow to US President Donald Trump’s "Donroe Doctrine," a plan to secure a US "sphere of influence" in the Americas against growing Chinese influence. The question now is just how much Brazil will tilt toward Beijing. Lula's victory has thrown a spanner in the works. South America's most populous nation will be led for another four years by the veteran leftist and long-standing critic of US influence. Trump said on Monday (Oct. 26) that he likes Lula and gets along well with him, but it's safe to say he would have had a more cordial relationship with Lula’s right-wing opponent, Senator Flavio Bolsonaro, son of former President Jair Bolsonaro. What makes Lula's win even more vexing for Washington is that it is likely to strengthen Brazil's ties with China, a process that Lula has long championed. China overtook the US as Brazil's largest trading partner in 2009.

OUT 28, 2026 - Oilprice.com

China’s refiners are buying crude oil from West Africa and Brazil after freight rates eased in the past two weeks, while competition for Russian supply is stronger and Iranian barrels have disappeared. Following a decline in shipping rates from all-time highs, some Chinese refiners have bought West African and Brazilian crude grades at premiums of up to US$ 20 per barrel above ICE Brent for delivery in December, trading sources told Bloomberg on Wednesday (Oct. 28). In early October, the freight rates of crude cargoes from the Atlantic Basin to Asia soared to record highs. The cost of shipping crude oil from the U.S. Gulf Coast to China soared to as high as US$ 80 million earlier this month. The cost is so high that Asian refiners aren’t ordering much crude from the U.S. for November delivery. In the first week of October, the cost to ship crude from the U.S. Gulf Coast to South Korea soared to above US$ 42 per barrel, the Brazil-to-China freight rate topped US$ 39 per barrel, and the West Africa to China route had shipping costs of over US$ 32 a barrel, per data by Vortexa cited by Bloomberg. The rates have now eased by about US$ 10 per barrel on each of these routes, prompting Chinese refiners to purchase Equatorial Guinea’s Ceiba crude, Angola’s Saturno, and Brazil’s Mero, according to Bloomberg’s sources.

OUT 28, 2026 - Industrialinfo.com

Brazil's bioenergy market--specifically the biomethane and renewable natural gas (RNG) segment--continues to gain momentum following announcements from companies such as Apolo, Solví, and CYG3, with notable traction in the waste-to-RNG sector. This growth is largely driven by Brazil's Fuel of the Future Law, which mandates greenhouse gas emission reduction targets for the natural gas market starting in 2026 through biomethane incentives. The initial target is set at 0.5% for 2026, with provision for gradual increases up to a 10% ceiling in subsequent years. RNG is a pipeline-quality natural gas that serves as an advanced biofuel for transportation and power generation. In waste-to-RNG operations, the fuel is derived by conditioning and upgrading raw landfill biogas produced through the anaerobic digestion of organic municipal and industrial waste. RNG is also increasingly produced from agricultural residues like vinasse and filter cake generated during ethanol production. Illustrating this trend, Usina Uberaba is advancing a US$ 16 million waste-to-RNG addition at its ethanol complex in the state of Minas Gerais.

OUT 28, 2026 - Merco Press

Annual energy inflation in Latin America and the Caribbean accelerated to 8.33% in August, its highest level in twelve months, and pressure on fuel prices continued in September and October, when diesel prices matched petrol for the first time, according to a report by the Latin American Energy Organization (OLADE) published by the Energy Report website. The study, based on data from the statistics institutes and central banks of member countries, shows energy inflation exceeded the previous high for the period, 8.03% in June. Overall inflation in the region rose from 4.17% in July to 4.43% in August. The report links the acceleration to the resumption of hostilities between Iran and the United States in July, after a fragile ceasefire in June. Diesel has risen faster than petrol. In August, its regional average price rose 2.5% to US$ 1.31 per litre, almost four time the increase of petrol, which rose 0.6% to US$1.38. Its rising cost has a particular impact on freight and passenger transport, farm machinery and the distribution of goods.