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Petrobras Sets New Records In 3Q26

Company’s oil and gas production reached a record 3.512 million barrels of oil equivalent per day in 3Q26, up 11.7% year over year; domestic sales of refined products reached 1.854 million barrels per day, the best result in the history of the current refining system

Bacalhau Field Reaches Plateau Production

The field’s output boosted Equinor’s international production in the third quarter

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

4 Bidders Vie For Petrobras’ Búzios 12 FPSO Contract

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

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

Energy Ministry Opens Public Consultation On Transmission Planning Guidelines

Draft ordinance aims to make the process for preparing the Transmission Concession Plan more predictable and transparent

PDE 2036 Already Includes 12 GW Of Hydropower And Pumped-Storage Plants

Changes in the outlook driven by the rapid growth of intermittent renewables have accelerated the return of hydropower, with its attributes for supply security and stability in the operation of the interconnected system

Storage Association Endorses Brazil’s Dec. Battery Storage Auctions Rules

Absae says the final auction rules approved by Aneel will support competition in the December 2 and 4 tenders

Aneel Opens Âmbar Energia Amazonas Action Plan Public Consultation

Regulatory review will examine measures to improve power supply quality, reduce distribution losses and strengthen operational efficiency

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

From The Media

OUT 29, 2026 - Reuters

Oil prices eased on Thursday (Oct. 29) as hopes for renewed diplomacy between the US and Iran helped cool fears of a wider Middle East conflict. Even so, at around US$ 115 a barrel, Brent crude remains roughly US$10 above its September average, underscoring persistent market anxiety. Washington appears eager to test the diplomatic route once again. The Wall Street Journal reported that US Vice President JD Vance sent a letter to Iranian Security Council chief Mohsen Rezaei aimed at reviving negotiations. At the same time, however, Iran is said to have rejected a Qatari-mediated draft proposal to end the war, while Tehran-backed Houthi forces continue their attacks on Saudi Arabia. President Donald Trump has repeatedly said he is weighing renewed military action against Iran versus a negotiated settlement. He could also opt to maintain the current pressure campaign by keeping restrictions on Iranian oil exports in place, believing the slow squeeze on Tehran’s resources will ultimately force the government to the negotiating table. Any clear decision is unlikely to come until after next Tuesday’s (November 3rd) US midterm elections.

OUT 29, 2026 - Merco Press

Brazil is expected to return to eighth place in the global GDP ranking for 2027, overtaking Russia and Italy, according to the International Monetary Fund (IMF) and its World Economic Outlook report, released this month. The IMF points out that Brazil’s GDP, which measures the value of goods and services produced in the country, is expected to reach US$ 2.80 trillion next year. This year Brazil is expected to finish in tenth place. Likewise for 2027, United States is expected to remain the world’s largest economy, followed by China, Germany, India, and the UK. Follows the IMF top ranking for next year, 1. United States: US$ 34.44 trillion; 2. China: US$ 22.94 trillion; 3. Germany: US$ 5.66 trillion; 4. India: US$ 4.52 trillion; 5. United Kingdom: US$ 4.49 trillion; 6. Japan: US$ 4.47 trillion; 7. France: US$ 3.65 trillion; and 8. Brazil: US$ 2.80 trillion.

OUT 29, 2026 - Valorinternational.globo.com

Bioenergy supply from agribusiness for the power, transportation, and industrial sectors has grown over the past 3 years, but not enough to increase its share of Brazil’s energy mix. That is the conclusion of the latest edition of FGV Bioeconomics’ “Oferta de Energia Renovável pelo Agronegócio” (“Renewable Energy Supply from Agribusiness”) study, obtained by Valor. Between 2022 and 2025, energy supplied from agribusiness biomass increased 16%, to 97.8 million tonnes of oil equivalent (toe). This was the largest percentage gain over the period among energy sources. Nonrenewable sources grew 3.7%, while other renewable sources—hydropower, wind, and solar—increased 11.7%. The study considers a wide range of energy sources in gaseous, liquid, and solid form, including biomass burned directly. During the period, ethanol production from sugarcane distillation and, particularly, corn processing increased. Black liquor production, a byproduct of the pulp and paper industry, also grew as the sector expanded in recent years. Vegetable oils were another highlight, driven by growth in the biodiesel market as Brazil successively raised the proportion blended into diesel.

OUT 29, 2026 - Hitachienergy.com

Hitachi Energy has selected the Jaraguá district in the city of São Paulo as the location for its new Service Center in Brazil. The site selection follows the R$ 50 million (US$ 9.27 M) investment announced in May 2026 to expand Hitachi Energy’s Service capabilities in Brazil. The new location reinforces its strategy of increasing proximity to customers while strengthening its local support capabilities for Brazil’s electrical infrastructure. Scheduled to begin operations in 2027, the new facility will be dedicated to providing specialized services for equipment used in power transmission and distribution, as well as industrial applications and data centers. The center will bring together maintenance, upgrades, repair, modernization, critical spare parts supply, training, and specialized technical support for customers’ critical energy infrastructure equipment. These capabilities will be complemented by digitally enabled service solutions that help customers plan, predict, and prevent issues throughout the lifecycle. The location was selected for its proximity to customers and key industrial and energy hubs across the country, helping enable faster response to customer needs and deliver lifecycle service at scale. The site is located within a long-established industrial complex that has supported Brazil’s power sector for decades and is strategically positioned to facilitate access for customers, employees, suppliers, and service teams.