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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”

Petro-Victory & Eneva End São João Field Agreement

Companies terminate 2024 MoU after fulfilling its binding requirements; Petro-Victory retains full ownership and operatorship of the field

Tsea Invests US$ 9.71 M To Expand Betim Factory

State of Minas Gerais facility will add new power transformer manufacturing to its existing refurbishment operations

PPSA: 36 Companies Qualify For Federal Government Natural Gas Auction

Auction scheduled for Thursday (Oct. 22) will offer 1.1 million m³/day, targeting energy-intensive industries

Eneva Reports 3Q26 Gas Production Decline

Lower volumes were driven by reduced thermal power demand at the Parnaíba complex between 3Q25 and 3Q26

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

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

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

Raízen Plans US$ 697 M Capital Increase

Biofuels producer and fuel distributor proposes issuing shares at R$ 0.25 (US$ 0.0498) each, with preemptive subscription rights for existing shareholders, as part of its court-approved out-of-court restructuring plan

Green Hydrogen Auction Will Not Be Held In January

The sector will wait for the outcome of the October 25th presidential election runoff before a new decision is made on whether the auction will proceed

From The Media

OUT 27, 2026 - CNN

Brazilian Senator Flávio Bolsonaro has left Brazil and is headed to the United States after losing Sunday’s presidential runoff election to incumbent President Luiz Lula da Silva, sources have confirmed to CNN. Brazil’s Federal Police canceled Bolsonaro’s passports after he failed to surrender them and are currently searching for him. Reportedly, he is using his Italian passport. A US official initially told CNN that Bolsonaro was headed to Florida, but later said his exact destination in the US was unclear. A Brazilian source close to Bolsonaro said that the politician had feared arrest in Brazil. where he is under investigation by the country’s highest court for alleged acts of corruption, money laundering and currency evasion. Speculation about his movements mounted after the Argentine news outlet Infobae reported that Bolsonaro had left Brazil via Argentina. The Argentine government said in a statement that it has “no record of Flávio Bolsonaro entering” the country. A report by the news website Metrópoles, citing people close to the politician’s family, said he was en route to the US. “The plane is in flight,” Metrópoles reported, without making clear where it had departed from. Bolsonaro allies told Metrópoles that he would land in Florida on Tuesday afternoon and planned to request political asylum. “The Donald Trump administration has been informed,” the website added.

OUT 27, 2026 - The Economist

President Luiz Lula da Silva pulled off a win for the history books to hang onto his job by a margin of nearly four points in a presidential run-off on Sunday (October 25) against Senator Flávio Bolsonaro. Yet markets fear economic drift and high-spending that Brazil cannot afford. For years successive governments, including Lula’s, have spent wildly. That has left Brazil paying a higher share of GDP in interest on its debt than all but a tiny handful of big countries. It has also resulted in a sky-high real interest rate, now at 9%. This is weighing on investment, squeezing businesses and households, and squashing growth. Though Brazil has vast natural resources, including oil, expansive farmlands and huge stocks of critical minerals, it has for decades grown more slowly than its peers. Cutting government spending is key to getting things moving. But Lula’s government runs a budget deficit of more than 9% of GDP. The IMF predicts that public debt will hit 97% of GDP this year, up from 84% in 2022. Lula now should name a finance minister whom investors will trust. He then must announce a credible plan for fiscal reform. An urgent task is to pass a spending cap to stabilise Brazil’s debt. Lula needs to scrap the many tax breaks that have proliferated under previous administrations—including his own—and which benefit inefficient firms with well-connected lobbyists. Little of this will be easy for Lula—which is the reason for the markets’ panic. However, if Brazil’s re-elected president believes that his election victory is an excuse to double down on the policies that saw off his opponent, he will cause a fiscal crisis and a deep recession. His golden victory will turn to ashes.

OUT 27, 2026 - Northernminer.com

Brazilian President Luiz Lula da Silva’s election victory is set to sustain the country’s push to process more of its vast rare earth reserves at home, with mining investors watching how his government implements new screening powers and industrial incentives. “Lula’s win ultimately reinforces Brazil’s trajectory in recent years and, in particular, confirms the country’s critical minerals policy, which was launched in September of this year and is therefore still relatively new,” Juan Ignacio Guzmán, CEO of Santiago-based GEM Mining Consulting, told the Northern Miner Group’s MINING.COM. The outcome leaves the administration responsible for implementing a framework that encourages domestic processing while allowing greater scrutiny of strategic mineral transactions. Its approach could shape foreign investment in Brazil, which holds the world’s second-largest rare earth reserves and is an increasingly important target for governments seeking alternatives to Chinese supplies.