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NTS Challenges ANP's Zero Asset Base Ruling & Suspends New Investments

Decision puts pipeline network expansion projects in limbo, including initiatives covered by the R$ 12 B (US$ 2.33 B) investment plan announced in 2022

Imetame To Return Espírito Santo Basin Block

The company has requested the return of ES-T-409 and will pay the Brazilian government for the work commitment not fulfilled under the Minimum Exploration Program (PEM)

PetroReconcavo’s US$ 45.8 M 3Q26 Profit Up 94% Over 3Q25

Despite strong financial performance, average daily O&G gas production fell 10% year over year to 23,600 barrels of oil equivalent per day (boe/d)

Saipem–Subsea7 Merger Gets Conditional Antitrust Approval

Antitrust Council ruled that the newly-formed company must sell a specialized rigid-pipe-laying vessel to an independent buyer to preserve sector competition

BNDES Approves US$ 398 M For 4 ROV Support Vessels

Merchant Marine Fund loan will cover part of the R$ 2.42 billion (US$ 442 million) project, with vessels to be built by Navship shipyard in Navegantes (state of Santa Catarina)

Natural Gas Can Boost Rio’s Petrochemical & Fertilizer Industries

Industry group argues that new O&G investments should extend to the industrial stages of the production chain

Brazil’s Average Daily Natural Gas Consumption Rises 15.4% In 1H26

Power generation and industry drove the increase, according to Abegás data; average daily consumption in the free-market segment rose 36% year over year

Fitch Upgrades Petrobras’ Standalone Credit Assessment, Affirms Its ‘BB’ Global Rating

Rating agency raises the company’s Standalone Credit Profile (SCP) from ‘bbb’ to ‘bbb+’, reflecting stronger underlying creditworthiness, while maintaining its global-scale issuer rating at ‘BB’ and its Brazilian national-scale rating at ‘AAA(bra)’, both with stable outlooks

Petrobras Asks Antitrust Council To Reject Saipem–Subsea7 Merger

State-owned company reiterates concerns over market concentration in the deepwater SURF market. If the approval is upheld, it has requested structural remedies

Brazil’s O&G Production Surpasses 6 M boe/d

The ANP’s monthly bulletin also reported increases in oil and natural gas output, with pre-salt production reaching 5.1 million boe/d

Halliburton Deploys 1st Remote Completion System In Brazil

Technology eliminates conventional hydraulic control umbilicals used to operate subsea well-completion equipment, simplifying offshore operations

PetroReconcavo Temporarily Suspends Part Of Its Bahia Natural Gas Production

Company begins maintenance work at the Catu Gas Processing Unit, halting deliveries of natural gas from several fields for processing

All Souls’ Day Holiday

In observance of Brazil’s All Souls’ Day (Dia de Finados) national holiday, we will not publish our usual newsletter on Monday Nov. 2nd. Our regular publishing schedule will resume Tuesday, November 3rd. Thank you for your understanding.

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

Firm Green Hydrogen Demand To Be Delayed

Geopolitical uncertainty and delays in European incentive policies are keeping Brazilian projects totaling 5 GW to 8 GW on hold

Brazil’s Green Hydrogen Production Costs +27% In 2026

Electricity accounts for much of the increase, according to CELA study

Alupar Wins Chilean Power Transmission Auction

Pelarco–Trueno project carries an estimated investment of US$ 85 million

BYD Reaches 9.7% Of Brazilian Market Share

With 24,100 vehicles registered in October, the Chinese automaker expands its market share one year after inaugurating its factory in the state of Bahia

ANP Proposes SAF Certification Rules

Draft regulation outlines requirements for producers, registrars, and oversight of environmental certificates

Eve Air Mobility & FlyBIS Sign Agreement For 12 Electric Aircraft

Partnership builds on a letter of intent signed in 2022 and calls for the development of electric air mobility services in Brazil

Hyundai: Hydrogen Refueling Corridors Key To Developing Fuel Cell Truck Market

Automaker sees potential to combine sugarcane- and corn-based ethanol with green hydrogen produced in Brazil’s Northeast to enable carbon-neutral heavy-duty transportation

Aeris Seeks US$ 277 M Debt Restructuring

Out-of-court plan has initial support from creditors representing 42% of claims covered

On-Site Solar Investment Falls 46% Among Businesses & Rural Properties

The segment attracted US$1.19 billion in investment through October, as grid-connection restrictions drive demand for Zero Grid projects, TTS says

MME Seeks Demand Forecasts for 2027 A-4, A-5 & A-6 Power Auctions

Electricity buyers interested in participating in the auctions must submit their projected power purchasing needs to the Electric Energy Trading Chamber (CCEE) by November 16

Vestas: Brazilian Wind Market Showing Early Recovery After 3 Years Of Contraction

Turbine manufacturer has secured orders for 1.1 GW of wind capacity in less than 100 days, but CEO says transmission constraints and curtailment remain major obstacles

Copel Shares Cease Trading On Latibex Market

Shares will continue to trade on Brazil’s B3 stock exchange and the NYSE

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

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.

From The Media

NOV 06, 2026 - Valorinternational.globo.com

Brazil’s GDP is expected to grow by an average of 1.7% a year between 2026 and 2028, according to the Global Economic Outlook 2026-2028 report by international consulting firm Kearney. The report highlights that domestic oil production, renewable energy generation, and biofuel infrastructure have helped cushion the impact of the global energy crisis. High inflation and restrictive interest rates, however, are limiting growth. “There is a brake on growth, and the study makes that very clear: interest rates,” noted Fabio Yoshitome, a partner at Kearney. Lara Resende, considered one of the architects of Brazil's Real Plan, has advocated lowering Brazil’s benchmark Selic interest rate to 7.5% a year over 12 months to reduce the government's borrowing costs and bring public finances into balance without the pain of spending cuts or tax increases. In internal government discussions, economic officials have warned that an interest rate reduction perceived by investors as artificial would prompt a rush into foreign currencies and an exodus from government bonds. Members of the economic team counter that Brazil's US$ 372.6 billion in foreign reserves could be depleted rapidly if the Central Bank attempted to resist a wave of capital flight.

NOV 06, 2026 - Reuters

Brazil's foreign trade chamber executive committee approved in a meeting on Thursday (Nov. 5) an extension of a 12% tax on exports ‌of crude oil until December 31, with the aim of maintaining normal domestic supplies of oil products, the government said in a statement on Friday (Nov. 6). The administration of re-elect president Luiz Inacio Lula ⁠da Silva introduced the levy in March to offset the fiscal cost of fuel subsidies aimed at cushioning consumers from a spike in global oil prices due to the Iran-U.S. conflict. The Finance Ministry requested the extension, citing the ongoing adverse conditions caused by the conflict and the need to keep domestic supply of oil products, ‌mainly ⁠diesel, normal. In the same meeting, the committee also moved ahead with a reciprocity process with the United States by creating a working group to assess the issue, according to ⁠the statement. The US government announced tariffs of 25% in July on some Brazilian goods, alleging unfair trade practices, as well as ⁠12.5% tariffs on goods from dozens of nations, including Brazil, linked to allegations of lax enforcement of ⁠forced labor bans. Brazil opened a process that could result in reciprocal measures against Washington in August.

NOV 06, 2026 - Merco Press

Paraguayan President Santiago Peña announced on Thursday (Nov. 5) night that he will appear before the Senate to defend himself in the impeachment trial against him, after Congress failed for lack of a quorum to consider the resignation he had tendered hours earlier, leaving him formally in office. Argentina’s government, meanwhile, denied any record of Peña entering Argentina, following reports that he might have left Paraguay. “Given the continuation of the impeachment trial, I will appear and exercise my right to a defence,” Peña said in a message released after the joint session of Congress called to accept or reject his resignation was suspended. The session lost its quorum when deputies of the ruling Colorado Party walked out. The Senate called an extraordinary session on Thursday night to set the impeachment trial in motion, on grounds of “poor performance of his duties”, and another on Friday (Nov. 6) morning to begin proceedings in the president’s presence, according to the Paraguayan press. Presidential spokesman Guillermo Grance acknowledged he did not know where the president was, according to ABC Color, and the speaker of the Chamber of Deputies, Colorado Party member Raúl Latorre, also admitted not knowing.

NOV 06, 2026 - Spglobal.com

Platts, part of S&P Global Energy, will begin publishing its Brazil natural gas price assessments daily from Monday (Nov. 9), replacing the current weekly Thursday publication. The assessments will be published Monday through Friday on Brazilian business days. The daily assessments will reflect anonymized bids and offers from GasHub, as well as information gathered through Platts' survey of market participants. The existing symbols and coverage for Platts' Brazil natural gas price assessments will remain unchanged. Coverage and symbols will remain unchanged. Platts will continue to assess the TAG, NTS and TBG pipeline systems, as well as a Brazil national average, calculated as the simple average of the three pipeline assessments. Each location carries: a PG (preço do gás) assessment, reflecting the price of gas delivered into the pipeline, including entry costs; and a PM (preço da molécula) assessment, reflecting the molecule price, excluding transportation costs. Historical weekly values will stay on the existing symbols. From Monday (Nov. 9), these symbols will carry a value for each Brazilian business day.