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Upstream: 2026 Market To Struggle With Oversupply

Rystad reports Brasil, Namibia and the U.S. (Gulf of Mexico) are expected to maintain robust oil activity

Azevedo & Travassos Energia Reports Higher Production In November

The Phoenix-Potiguar Hub delivered the largest monthly contribution, with the start-up of a well at the Periquito Nordeste field

ANP Green Lights FPSO P-78 Operations

Unit to operate at the Búzios field with capacity of 180,000 bpd and 7.2 million m³/d of natural gas

Petrobras Delays Contract Dates For 7 DOF Group Vessels

The AHTSs Skandi Fluminense, Skandi Paraty, Skandi Angra, Skandi Urca and Skandi Iguaçu, as well as the RSVs Skandi Chieftain and Skandi Olympia, will now begin their contracts in early 2027

Petrobras Approves SEAP II Development FID

Project is strategic to expand the availability of domestic natural gas and to open a new production frontier in Brazil’s Northeast, according to the company

ANP Indicates 33 More Exploration Blocks For Permanent Concession Offer

Of these 33 blocks, 24 are offshore and nine are onshore. The areas will now be analyzed by the Geological and Economic Assessment Superintendency (SAG) of the regulator, so that they can later be included in bidding rounds under the Permanent Concession Offer (OPC).

Natural Gas Output Rose 18.6% in the 3rd Quarter

Domestic demand declined, with industrial consumption down 3.9% and thermal use falling more than 20%, according to petroleum institute’s bulletin

Trump Escalates Venezuela Oil Standoff, Tanker Escorts Signal New Phase

U.S. president wants return to the United States of “all of the Oil, Land, and other Assets that they previously stole from us”

Petrobras Receives Bids to Restart UFN‑III

Engeko and Nova Engevix submit leading proposals in tenders for Três Lagoas fertilizer plant.

Brazil, Guyana & Argentina To Lead 2026 Oil Growth

EIA report highlights that the three countries will account for half of the global oil out rise next year

Prio Approves New Share Buyback Program

It allows the repurchase of up to 86,945,579 common shares and the trading of derivative contracts with physical or financial settlement

ExxonMobil To Exit 4 Pre-Salt Blocks In Campos & Santos Basins

Company has concluded activities in C-M-753 (Campos), S-M-536, S-M-647 and Titã (Santos) and returned them voluntarily

Petrobras Strike Spreads To Additional Operational Units

According to the FUP, the strike drew participation from eight refineries, 24 offshore platforms, 10 Transpetro units, four thermoelectric plants, two biodiesel plants, as well as onshore fields in Bahia, the Cabiúnas Gas Processing Unit (UTGCAB), and the Paulínia Compression Station (TBG)

BW Energy Changes Maromba Rig Contract

The new deal with Minsheng Financial Leasing (MSFL) converts the short-term agreement to a long-term one

Petrobras Maintains Production Despite Nationwide Strike

Workers stage protests across Brazil, but company says fuel supplies remain secure

MME Updates 2026 Capacity Reserve Auction Deadlines

Ordinances set January 5 as the deadline for developers to submit technical and economic data on their plants

Neoenergia Elektro: US$ 12 M To Strengthen Grid For Summer

Neoenergia Elektro: US$ 12 M To Strengthen Grid For Summer

Chinese BYD Surpasses 200 K Electrified Vehicles Registered in Brazil

Milestone reached just two months after company hit 170,000 registrations

Chamber of Deputies Seeks MME Action On São Paulo Energy Crisis

Request from the Chamber’s Presidency responded to demands from São Paulo’s congressional caucus

+20.5 K Consumers Migrate To Deregulated Market

The figure, covering the period from January to November, reflects the perceived benefits of moving to a more flexible, competitive, and customized environment, according to the CCEE

Stored Energy Increase Forecasted In 3 Subsystems

ONS forecasts an improvement in Stored Energy (EAR) in the South, North and Northeast subsystems for the week of December 20–26

Diesel B To Maintain Lead Among Transport Energy Sources

Brazilian government study also shows a gradual decline in gasoline C consumption in light vehicles

Casa Dos Ventos Signs US$ 907 M Vestas Contract

The contract provides for the supply of 184 turbines for the Dom Inocêncio wind complex, which will have 828 MW of capacity

Aneel Begins Process That Could Lead To Revocation Of Enel SP Concession

Electricity regulator says it will evaluate recurrence of company’s failures to restore service in the Dec. 10 outage in conjunction with Arsesp

São Paulo Lawmakers Seek Federal Intervention In Enel

Letter to Chamber of Deputies President Hugo Motta draws support from 24 lawmakers from multiple political parties

Petrobras Buys 49.99% Stake In bp’s Brazilian Solar Energy Business

Joint venture with Lightsource bp aims to expand renewable portfolio and scale solar generation

Aneel Mandates Stronger Storm Contingency Plans in SP and RJ

Given the expectation of severe weather events, the measure seeks to reduce impacts and ensure a secure supply

Bradesco & Neoenergia Complete 1st Green Debenture Issuance

US$ 184 M green bond deal under Eco Invest program split between Neoenergia Coelba and Elektro

Solar Energy Is 7 Times Cheaper In Brazil Than In The USA

Survey conducted by Solfácil shows that, in practice, Brazilian consumers pay 13% of the price charged in the American market

Abraceel To Adopt Self-Regulation In 2026

To strengthen market security, the Brazilian electricity trading association will begin monitoring member behavior and risk indicators

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From The Media

DEZ 22, 2025 - Caracas Chronicles

“He [Maduro] can go the easy way, the hard way or somewhere in between, or end up dead. But the clear goal is that Maduro leaves,” says an opposition source close to the administration in Washington. “The only way to change his mentality or calculations is to make him think he’ll be killed, and that being a prisoner is an honor.” In essence, this is what both Team Trump and Team Machado (i.e. Comando Con Venezuela) wants the public to believe about Maduro’s options. Every tweet by Pete Hegseth and his Department of War, every Trump quote about stopping the existential threat of drugs, every statement by Caroline Leavitt hinting at the use of all military tools available are meant to make us believe that Trump may order a strike on Venezuelan soil, or even order Maduro’s decapitation.

DEZ 22, 2025 - Bioenergy Times

Brazil is poised for a major shift toward sustainable aviation fuels (SAF) beginning in 2027, with consumption projected to reach 0.03 million tons of oil equivalent (Mtoe) by 2035, according to Brazil's Energy Research Office (EPE). In its publication “Energy Demand of the Transport Sector,” part of the 2035 Ten-Year Energy Plan (PDE), the state-owned entity reports that SAF consumption will account for roughly 12% of domestic energy demand linked to passenger air transport by 2035. The expected expansion is attributed to emission reduction targets under the Carbon Offsetting and Reduction Scheme for International Aviation (Corsia) and ProBioQAV, established by the federal Fuel of the Future program.

DEZ 22, 2025 - MercoPress

In a move to preserve international connectivity amid escalating regional tensions, Venezuelan carrier Rutaca Airlines officially resumed commercial service between the city of Barquisimeto and Panama City on Sunday. The reactivation follows weeks of uncertainty for the Venezuelan aviation sector. On November 29, US President Donald Trump publicly urged international pilots and airlines to treat Venezuelan airspace as “closed,” leading to the suspension of several major international companies. The inaugural flights operated at high capacity, signaling strong demand despite the geopolitical climate.

DEZ 22, 2025 - Argus Media

Brazil ethanol imports may accelerate in the next three months, reflecting favorable arbitrage for foreign products and a need to boost supply during a period of high prices and tight domestic inventories. Market participants estimate ethanol imports of 230mn-250mn liters (l) (12,000-13,100 b/d) in the four months through March 2026, the off-season for sugarcane in Brazil's top producing central-south region. That would mark the largest volume imported for the four-month period since the 2020-21 crop, when it totaled 274.7mn l, according to data from Brazilian trade ministry Mdic.

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