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Petrobras Makes 3rd Oil Discovery In Foz Do Amazonas Basin

The third oil-bearing interval was identified in the Morpho well after discoveries announced in August and early October; the ODN-II rig has completed drilling and will move to the Potiguar Basin

SEAP: Uncertainty Could Cost US$ 11B

Petrobras has made the Sergipe Deepwater project conditional on developments in the government's new policy to increase competition in the natural gas market, known as Gas Release

PetroChina, CNOOC & Petrobras Win PPSA’s 10th Spot Auction

The companies secured 4 of the 6 cargoes offered from the Búzios field. The auction comprised 5 lots totaling approximately 4.5 million barrels of federal government-owned crude

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

Celeo Biggest Winner In US$ 1.64 B Transmission Auction

4 Spanish-owned companies won seven of the eight lots on offer, while Portugal’s EDP secured the remaining lot. All eight lots were awarded, with an average discount of 50.10% against the maximum allowed annual revenue.

Hitachi Energy Establishes New Service Center In São Paulo

Center will expand local support capacity for maintenance, repairs, upgrades and life extension of critical energy infrastructure

Armor Expects Green Electricity Tariff Flag To Remain In November

Favorable hydrological conditions in southern and southeastern Brazil, along with cooler temperatures, are expected to reduce electricity demand and keep generation costs in check

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

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

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

From The Media

OUT 30, 2026 - The Guardian

Senator Flávio Bolsonaro had hoped that by Sunday night (Oct. 25) people would be calling him the next president of Brazil. Instead, the politician’s decision to flee to the US after losing the election and – for 58 minutes – to declare himself “Brazil’s true president-elect”, has made him a laughing stock, with Brazilian newspapers and commentators raining a barrage of scornful adjectives down on the conquered candidate. “If it served any purpose at all, Flávio’s foolishness liberated the democratic right from a family of coup-mongers, which for far too long held it hostage to their reckless folly and irremediable disdain for Brazil,” the conservative Estado de São Paulo newspaper thundered on Friday (Oct. 30). Bolsonaro fled to Miami on Tuesday night (Oct. 27), 48 hours after being beaten by his leftwing adversary, incumbent President, Luiz Lula da Silva, by 4.4m votes. Lula’s victory has been recognised by rightwing leaders from around the world, including El Salvador’s Nayib Bukele and Italy’s Giorgia Meloni, not to mention Bolsonaro’s own party and many key allies.

OUT 30, 2026 - Reuters

Oil prices jumped more than 2% on Friday (Oct. 30) and settled at their highest levels since the end of April, as traders braced for a potential escalation in the Iran war after the US midterm elections, ‌with an attack on a tanker in the Strait of Hormuz highlighting supply risks. Brent crude futures for December , which expired on Friday, settled up US$ 2.76, or 2.4%, at US$ 117.64 a barrel. The more active January contract gained US$ 2.63 to US$ 113.43. US West Texas Intermediate (WTI) crude futures settled ups US $2.12, or 2.08%, higher at US$ 104.12. On Friday, a tanker in the Strait of Hormuz was hit by explosive devices attached by a small ⁠boat, said the UKMTO, the British maritime security service. It was not immediately clear who was behind the attack in the strait, the key sea outlet for Gulf crude and fuel supplies. The US embassy ordered non-emergency government employees and their family members to leave Saudi Arabia effective October 23 due to safety risks,citing Houthi attacks on civilian airports and other critical infrastructure. Yemen's Iranian-backed Houthi militants said on Thursday (Oct. 29) they had attacked several sites in Saudi Arabia, including the large Ras Tanura oil refinery, the Rabigh refinery and a production facility in Abqaiq owned by state oil company Saudi Aramco.

OUT 30, 2026 - Greenpeace.org

The world’s biggest oil corporations continue to report staggering profits, running into tens of billions every quarter, while households and businesses face soaring energy costs. BP, Chevron and ExxonMobil reported on Friday (Oct. 30) third-quarter profits of US$ 8.5 billion, US$ 10.4 billion and US$ 17.5 billion, respectively. Together with results reported earlier this month by Shell, TotalEnergies, Eni and Equinor the seven corporations’ combined third-quarter profits amount to almost US$ 63 billion. Global Political Lead at Greenpeace International Rebeccaa Newsom said: “Every time a crisis pushes up the prices, the same oil and gas giants are there to cash in. The rest of us pay, at the pump, and at the checkout. This is where decades of fossil fuel dependence have led us, and governments that keep letting these corporations off the hook are leaving households to foot the bill. If governments permanently increase taxes on oil and gas profits and clamp down on corporate profit shifting, hundreds of billions of dollars could be raised, while supercharging a shift in investment towards cleaner, more secure renewable energy. That revenue should protect communities from price shocks and extreme weather, and accelerate a just transition away from fossil fuels.”

OUT 30, 2026 - Merco Press

Brazill plans to allocate R$ 147.68 billion (US$ 27.48 B) to defense in 2027, but 73% of that amount will go toward salaries, retirement benefits and pensions, according to the budget bill submitted to Congress. With only 8.6% earmarked for investment, the country will have to determine the pace of programs that include fighter jets, frigates, armored vehicles and a nuclear-powered submarine. Of the total, R$ 12.7 billion (US$ 2.36 B) is allocated to investment and R$ 21.7 billion (US$ 4.04 B) to operating expenses. The proposal must still be approved by Congress. According to defense analyst Andrei Serbin Pont, who reviewed the programs in an analysis for Infobae, the Brazilian Air Force expressed interest in June in purchasing another 20 Gripen E/F fighters from Sweden’s Saab, in addition to the 36 already under contract. The additional aircraft could potentially be manufactured at Embraer’s facility in Gavião Peixoto (state of São Paulo), although no new order has been confirmed. On April 24, the Brazilian Navy signed a memorandum of understanding with Embraer and Germany’s TKMS to build four additional Tamandaré-class frigates.