Energy and Natural Resources Newsletter | March 2026

Brazil’s Federal Court of Accounts urges ANP to launch a portal on essential gas infrastructure

On March 26, 2026, Brazil’s Federal Court of Accounts (“TCU”) ordered the ANP to develop, within 180 days, an action plan to implement a single electronic portal that compiles information on the so-called essential infrastructure of the natural gas sector, such as gas pipelines, processing units, and liquefied natural gas (LNG) terminals. The decision stems from an audit that evaluated the implementation of the “Gas para Empregar” public policy and identified weaknesses in market governance and transparency, particularly regarding access to data required by the New Gas Law and its regulatory decrees.

According to the TCU, the absence of the portal hinders access to the information necessary for the competitive functioning of the market and constitutes a violation of legal provisions that assign the ANP responsibility for the oversight and availability of such data. The Court also pointed out the absence or insufficiency of codes of conduct and access to essential infrastructure, which may limit the entry of new market agents and reinforce information asymmetries between regulated entities and the government. In addition to the portal, the Court recommended that the ANP adopt measures to require market agents to adhere to clear access rules, with deadlines and monitoring mechanisms.

In the same ruling, the TCU recommended that the Ministry of Mines and Energy (“MME”) develop a plan aimed at implementing the National Pact for the Development of the Natural Gas Market, with a focus on regulatory harmonization between the Federal Government and the states. The Court’s assessment highlights that, despite the institutional advances introduced by the New Gas Law, significant obstacles persist, such as market concentration, infrastructure limitations, and regulatory coordination failures, which underscore the importance of transparency tools like the portal to promote greater competition and lower prices in the sector.

Learn more: TCU urges ANP to implement portal

ANP approves measures regarding the diesel fuel subsidy

On March 27, 2026, the ANP’s Board of Directors approved two measures regulating the subsidy for road-use diesel fuel within the national territory, established by Provisional Measure (“MP”) No. 1,340/2026 and Decree No. 12,878/2026. The first measure outlines a roadmap with guidelines and instructions for interested producers, importers, and distributors to join the program, with the aim of facilitating the submission of requests to the ANP and reducing uncertainties related to filing through the Electronic Information System.

The second measure consists of the approval of a resolution establishing the methodology for determining the reference price of the subsidy. The reference price will be regionally adjusted, expressed in Brazilian reais per liter, and updated daily, incorporating price-setting components and market parameters for road diesel. The resolution will be subject to a 5-day public consultation, allowing industry agents and other interested parties to submit comments that may result in adjustments to the regulation, while respecting the rights of agents already participating in the program.

According to the decree establishing the policy, the subsidy will be implemented in phases, with the first phase occurring from March 12 to 31, 2026. To qualify for the benefit, economic agents must trade diesel at a price per liter equal to or lower than the retail price established by the MME. The ANP also announced that it will soon launch a dedicated page on its website with all information regarding the subsidy, reinforcing the transparency and predictability of public policy in the fuel market.

Learn more: ANP approves measures regarding the diesel fuel subsidy

Provisional measure published addressing subsidies for road diesel and export taxes

On March 12, 2026, MP No. 1,340/2026 was published, establishing a set of measures aimed at stabilizing the domestic fuel market, with a focus on road diesel. The MP authorizes the granting of economic subsidies for the trade of diesel by producers and importers, establishes rules regarding the export tax on crude petroleum oils or bituminous minerals, and introduces significant amendments to Law No. 9,847/1999, which governs the inspection of activities related to the national fuel supply.

The measure aims to mitigate the impacts of international price fluctuations and ensure domestic supply, while creating fiscal and regulatory mechanisms to discourage exports in scenarios of domestic market imbalance. Among the main points introduced and amended by MP No. 1,340/2026, the following are worth highlighting:

• Authorization of economic subsidies: MP No. 1,340/2026 authorizes the Federal Government to grant an economic subsidy for the trade of road diesel within the national territory, at BRL 0.32 per liter, intended for producers and importers authorized by the National Agency for Petroleum, Natural Gas, and Biofuels (“ANP”), in the form of partial equalization of trading costs, effective as of March 12, 2026, and limited to December 31, 2026. The overall subsidy limit was set at BRL 10 billion. Once this amount is reached before the end of the effective period, the benefit will automatically cease.

The MP granted the ANP powers to authorize economic agents, calculate the amounts due, verify compliance, and disburse the subsidy, under terms to be defined in specific regulations.

• Export Tax: MP No. 1,340/2026 established a 12% tax rate on exports of crude petroleum oils or bituminous minerals, classified under code 2709 of the MERCOSUR Common Nomenclature (“NCM”), levied on the total amount of exports. In addition, a 50% tax rate was established on the export of diesel oil, classified under NCM code 2710.19.21, for as long as the economic subsidy authorized by the MP remains in effect.
• Amendments to Law No. 9,847/1999: The MP expanded and adjusted mechanisms for inspecting, controlling, and curbing any conduct that may compromise the national supply or result in abusive prices in the fuel market. Thus, the ANP is empowered to fine market agents for (i) abusively raising the prices of fuels, biofuels, and petroleum products, with penalties increased in situations of geopolitical conflict or natural disasters; and (ii) unjustifiably refusing to supply fuels, biofuels, and petroleum products, with penalties increased in proportion to the economic gain.

MP No. 1,340/2026 is already in force, taking effect immediately, but still requires approval by the National Congress to become law.

Find out more: Provisional measure published addressing subsidies for road transport diesel and export taxes

ANP approves designation of 16 blocks in the Paraná Basin for Open Acreage of Concession

On March 13, 2026, the ANP’s Board of Directors approved the appointment of 16 exploration blocks to the list of blocks under study for potential inclusion in the Open Acreage of Concession (“OPC”).

However, in order to be effectively incorporated into the OPC notice, the blocks must still complete the subsequent stages of the regulatory process, which include an environmental analysis, the issuance of a Joint Statement by the MME and the MMA, as well as the holding of a public hearing.

The regulatory agency concluded the 5th Cycle of the OPC with the signing of 34 contracts last month. The bidding process took place on June 17, 2025. Thus, the 6th Cycle of the OPC may be initiated at any time.

To do so, registered companies must declare their interest in the sectors available in the current bidding notice. As published, 450 exploratory blocks and 5 areas with marginal accumulation are on offer in the Campos, Ceará, Espírito Santo, Parecis, Parnaíba, Potiguar, Recôncavo, Santos, São Francisco, Tacutu, and Tucano Sul basins.

Find out more: ANP approves 16 blocks in the Paraná Basin for Open Acreage of Concession

ANP extends public consultation on regulatory asset base valuation

On March 19, 2026, the ANP approved a 15-day extension of the public consultation on regulations governing the valuation of the Regulatory Asset Base (“BRA”) for natural gas transporters, to be in effect between 2026 and 2030. Due to the extension, the consultation will close on April 03, 2026.

“Considering the complexity of the issue, the large volume of information to be evaluated, the impact on the value of transportation tariffs, the relevant questions raised by economic agents, and the need to ensure maximum transparency and legal certainty, the ANP decided to extend the deadline for the market and the public to review the proposals”, the regulatory agency stated in a press release.

This is the second of three regulatory measures that integrate the Action Plan to define the methodologies and parameters to be applied to natural gas transmission tariffs for the 2026-2030 Regulatory Cycle. The first phase, dedicated to defining the rate of return for gas transporters, was completed on December 29, 2025. In the third phase, the maximum allowable revenue for transporters (“RMP”) and the tariff proposals for that cycle will be defined.

Find out more: ANP extends public consultation on the valuation of BRA

Resolution approved revising the rules on aviation kerosene quality

On March 13, 2026, the ANP approved the amendment to ANP Resolution No. 856/2021, which addresses the specifications for aviation kerosene, as well as the quality control obligations to be met by economic agents trading these products within the Brazilian territory.

As highlighted by the ANP, the new regulation aligns the terminology for the blend of fossil aviation kerosene (“JET A” or “JET A-1”) and synthetic blending components (“SBCs”), changing from the current JET C to the same nomenclature as the fossil fuel, that is, also JET A or JET A-1. The purpose is to adjust the specification, aligning it with international terminology, which already provides for the adoption of the same designation (JET A or JET A-1) for the product resulting from the blend of fossil aviation kerosene with synthetic components, in order to meet refueling and aircraft requirements.

With this revision, the ANP meets the demands of the International Air Transport Association (IATA) and ASTM International, which highlighted the fact that aircraft documentation does not provide for the use of JET C – as aircraft are certified only for the use of JET A or JET A-1.

Find out more: Resolution revising the rules governing the quality of aviation kerosene has been approved

NEWS

ANP reports that 1st Cycle of Gas Release Program is expected to occur between 2027 and 2030

On March 10, 2026, Bruno Moura, the ANP’s Superintendent of Competition Defense (“SDC”), announced that the ANP intends to implement the 1st Cycle of the Gas Release Program between 2027 and 2030.

According to the ANP, the Brazilian natural gas market remains concentrated and has low competition, which hinders efficient price formation and the entry of new agents. The Gas Release Program, established by the New Gas Law (14,134/2021) and to be regulated by the ANP, seeks to decentralize the supply of natural gas in Brazil by fostering competition and attracting new market agents.

“International experience shows that gas release programs can serve as regulatory tools to correct market failures and catalyze the process of competitive opening, imposing on dominant agents the obligation to offer part of their gas under transparent and non-discriminatory conditions”, the regulatory agency noted.

The stated goal for the first cycle is to reduce Petrobras’s market share in this segment, with intermediate annual targets and adjustment mechanisms. Eligible participants will be gas traders that have no controlling interest or affiliation with Petrobras and free consumers.

Following the announcement, the ANP also invited market agents to respond to a questionnaire to provide input on the program’s design. The regulatory agency’s objective is to gather technical input as well as expert insights to define the program’s core elements. Among the main topics addressed in the questionnaire are the definition of the gas volumes to be made available and the program’s duration, including potential trading structures, with an emphasis on auction models and allocation mechanisms.

The ANP also stated that it will gather input on the technical specifications of the products offered under the Gas Release Program, aspects related to the conditions for access to essential infrastructure – such as transportation and terminal operations –, as well as competitive mechanisms and safeguards designed to mitigate risks of market concentration or competitive distortions. Finally, the questionnaire addresses monitoring tools, performance metrics, and procedures for the ongoing evaluation of the program’s results.

Find out more: ANP reports that the first phase of gas production is expected to take place between 2027 and 2030

ANP approves new edition of Production Sharing Open Acreage notice

On March 13, 2026, the ANP held a public hearing to discuss the update of the notice for the Production Sharing Open Acreage (“OPP”), with the inclusion of 15 new blocks (Cruzeiro do Sul, Rubi, Granada, Aragonita, Calcedônia, Cerussita, Malaquita, Opala, Quartzo, Rodocrosita, Siderita, Hematita, Magnetita, Calcita, and Azurita). The previous notice included eight blocks (Jade, Ágata, Amazonita, Safira Leste, Safira Oeste, Larimar, Turmalina, and Ônix). With the inclusion of the new blocks, a total of 23 blocks will be offered. This is the largest number of blocks ever offered in the OPP.

In addition to the 15 blocks included in this update, three other blocks authorized by the National Energy Policy Council (“CNPE”) – Mogno, Dolomita, and Limonita – will be incorporated in a future revision of the notice. Although the Mogno block already has a valid joint expression of interest, it is partially located beyond Brazil’s 200-nautical-mile territorial limit, which requires adjustments to the rules of the notice to include specific provisions applicable to these areas.

Conversely, the Limonita and Dolomita blocks require adjustments to their limits due to the recommendations contained in Joint Statement MMA/MME No. 01/2026, as well as an assessment of the impacts of these changes on the viability of the areas’ technical and economic parameters. “These procedures require a broader review of the notice, which would make it impossible to hold a new cycle in 2026”, clarifies the ANP.

On March 27, 2026, ANP’s Board of Directors approved the new version of the OPP tender notice, expanding the portfolio of areas available for bidding under the production sharing regime.

Find out more: ANP holds a public hearing to update Production Sharing Open Acreage notice

ANP launches task force to investigate price gouging in the fuel market

On March 24, 2026, the ANP released the results of its participation in the national task force alongside the National Consumer Secretariat (“SENACON”), state and municipal consumer protection agencies (“PROCONs”), the National Secretariat of Public Security, and the Federal Police, to investigate potential price gouging in the fuel market. The inspection conducted is in accordance with the ANP’s new powers granted by MP No. 1,340, published on March 12, 2026. The MP incorporated into Law No. 9,847, of October 26, 1999, the possibility of penalizing agents for: (i) abusively raising the prices of fuels, biofuels, and petroleum products, with penalties aggravated in situations of geopolitical conflict or natural disasters; and (ii) unjustifiably refusing to supply fuels, biofuels, and petroleum products, with penalties aggravated in proportion to the economic gain.

During the inspections, the ANP also verified aspects of fuel quality and quantity, in accordance with applicable regulatory standards.

According to information shared by the ANP, between March 16 and 20, 2026, 154 economic agents were inspected, including 128 gas stations, 24 distributors, and 2 floating stations in more than 50 cities across 11 states and the Federal District.

In the event of price gouging is confirmed, the ANP stated that new notices of violation, administrative proceedings, and fines – upon conclusion of the proceedings – may be issued. The fines established by MP No. 1,340/2026 range from BRL 50,000 to BRL 500 million, depending on the severity of the conduct and the size of the potential violator.

Find out more: ANP launches task force to investigate price gouging in the fuel market