Newsletters

Energy and Natural Resources Newsletter | June 2026

July 3rd, 2026

In order to keep our clients informed about the current landscape of the main energy and natural resources sectors in Brazil, we have prepared the Energy Newsletter, a monthly bulletin with the main news of the energy market.

This information channel is the result of the unification of our “Oil & Gas” and “Power” newsletters, designed in the context of the energy transition that is being targeted in Brazil, and prepared to be a complete source of information about the dynamic Brazilian energy market in the oil, natural gas, electricity and renewable energy sectors.

Enjoy reading!

This newsletter is for informative purposes only and does not constitute legal advice for any specific operation or business. For more information, please contact our team of lawyers.

OIL AND GAS

HIGHLIGHTS

Government signals gradual withdrawal of fuel subsidies

The Federal Government announced, on June 30, 2026, the beginning of a gradual withdrawal of the emergency measures adopted to mitigate the impact of rising international fuel prices resulting from geopolitical tensions in the Middle East. The first measure consists of the termination, effective as of July 1, of the federal subsidy of BRL 0.35 per liter of diesel fuel. According to Dario Durigan, Brazil’s Minister of Finance, the decision was driven by the recent decline in international oil prices following progress in ceasefire negotiations between the United States and Iran.

Other fuel support measures remain in force but are currently under review, including the additional subsidy of BRL 1.12 per liter for diesel and the BRL 0.44 per liter subsidy for gasoline. The Ministry of Finance indicated that a partial or gradual reduction of the gasoline subsidy may be announced in the coming days, as international oil and domestic fuel prices stabilize.

The measure represents a turning point in the emergency policy adopted by the Federal Government in recent months and reinforces the growing interaction between energy and fiscal policy. The gradual withdrawal of fuel subsidies is associated with the goal of preserving fiscal balance while seeking to avoid significant impacts on consumer prices. The announcement indicates that the government will continue monitoring international price developments before determining the future of the remaining support mechanisms currently in place.

ANP approves resolution on access to LNG terminals

The ANP’s Board of Directors approved, on June 26, 2026, the first resolution aimed at regulating negotiated and non-discriminatory third-party access to essential natural gas infrastructure, particularly liquefied natural gas (“LNG”) terminals, gas production flow pipelines, and natural gas treatment or processing facilities. The measure refers to Article 28 of the New Gas Law (Law No. 14,134/2021) and establishes guidelines governing the use of such infrastructure, seeking to enhance transparency, competition, and efficiency in the Brazilian natural gas market.

Among the main aspects of the regulation are the requirement for accounting unbundling of terminal operations, the establishment of procedures and deadlines for negotiations between operators and interested third parties, the creation of congestion management mechanisms, and the mandatory disclosure of minimum information regarding capacity and access. The resolution also provides for ANP’s role in mediating and settling disputes related to access to regulated infrastructure.

The approval of the resolution represents a significant milestone in implementing the New Gas Law and consolidating a more competitive environment in the natural gas sector. The initiative seeks to reduce barriers to access, encourage the entry of new market participants, and strengthen the efficient use of existing infrastructure, all of which are considered essential factors for market development and the expansion of natural gas supply in Brazil.

ANP approves inclusion of 86 Equatorial Margin blocks in future Permanent Concession Offer cycles

The ANP’s Board of Directors approved, on June 26, 2026, the inclusion of 86 exploratory blocks located in the Brazilian Equatorial Margin in the list of areas under evaluation for the Permanent Concession Offer (“OPC”). The blocks are distributed among the Foz do Amazonas (36 blocks), Pará-Maranhão (25 blocks), and Barreirinhas (25 blocks) basins, and may be included in future OPC cycles following compliance with the applicable regulatory procedures.

The measure integrates the ANP’s Strategic Geological and Economic Assessment Schedule and does not result in the automatic inclusion of these blocks in upcoming bid rounds. Prior to any offer to the market, the relevant environmental assessments must be carried out, a joint statement must be issued by the Ministry of Mines and Energy (“MME”) and the Ministry of the Environment and Climate Change (“MMA”), and a public hearing must be held.

The initiative reinforces the regulatory interest in expanding geological knowledge of the Equatorial Margin and maintaining a continuous portfolio of exploratory areas for future licensing rounds. The advancement of these studies also demonstrates the strategic importance attributed to the region within Brazil’s oil and natural gas exploration and production policy, amid growing market attention to frontier exploration opportunities in the country.

ANP approves resolutions on abusive fuel price increases

ANP’s Board of Directors approved, on June 30, 2026, two resolutions establishing the criteria for the characterization of abusive fuel price increases by fuel retailers and distributors of liquid fuels and liquefied petroleum gas (“LPG”). The regulations were issued pursuant to Provisional Measures No. 1,340/2026 and No. 1,349/2026, which granted ANP authority to monitor and sanction abusive fuel pricing practices.

The approved methodology adopts the gross margin as the primary parameter for identifying potential abusive practices, seeking to distinguish price increases resulting from legitimate cost increases from those related to increased profitability by the economic agent itself. To this end, the ANP will compare the gross margins applied by the same economic agent across different periods, rather than relying on general market benchmarks. The resolutions further provide that a 70% increase in the gross margin will serve as an initial threshold for the potential notification of an economic agent during periods of geopolitical conflict or public calamity.

Once notified, the economic agent will have 30 days to submit the documentation demonstrating any increase in costs capable of justifying the price increase. If the explanations are deemed satisfactory, the conduct will not be characterized as abusive. In the absence of an acceptable justification, the ANP may initiate administrative sanction proceedings and issue a notice of violation. According to the agency, the resolutions preserve the free-pricing regime, do not establish price controls, and seek to enhance legal certainty, transparency, and predictability in regulatory enforcement.

Petrobras announces mechanism to mitigate the impact of international volatility on natural gas prices

Petrobras announced, on June 30, 2026, the adoption of a new pricing mechanism for natural gas supply contracts with state distribution companies, aimed at reducing the effects of international price volatility on its customers. The measure introduces Brent crude oil price bands, establishing minimum and maximum thresholds that will be considered in calculating the natural gas molecule traded by the company. The mechanism will be available to customers who choose to adopt the new framework through amendments to their existing supply agreements.

According to Petrobras, the initiative is intended to temporarily mitigate the impacts of abrupt fluctuations in international oil prices, providing greater predictability to market participants and reducing the intensity of price pass-throughs to consumers. The company estimates that, under the new model, the average adjustment expected for contracts effective as of August 2026 will be reduced from 22% to approximately 6%, a result significantly lower than that expected under the current pricing methodology.

The measure was implemented in a context of increased volatility in global energy markets following the surge in international oil prices driven by geopolitical tensions in the Middle East. In addition to smoothing abrupt price increases, Petrobras stated that the mechanism is intended to preserve the company’s competitiveness as a natural gas supplier and support medium- and long-term demand. The initiative also highlights the growing debate regarding instruments capable of balancing the Brazilian natural gas market’s exposure to fluctuations in international markets.

NEWS

Brazilian oil exports set record during war

Editora Brasil Energia reported, on June 17, 2026, that Brazil has been setting consecutive records for oil exports in 2026, driven by the international war and the reorganization of global supply and demand flows. According to data from the National Agency of Petroleum, Natural Gas, and Biofuels (“ANP”), the volume exported by the country from January through April was 30.7% higher than that recorded during the same period in 2025, a year that had already set a historic record. This trend reinforces Brazil’s position as a major supplier in the international market, especially amid increased demand from buyers seeking to diversify their supply sources.

In this buoyant market environment, export revenue kept pace with the growth in shipments. In April, the country earned USD 4.8 billion from oil exports, marking a 26.3% increase in revenue for the first four months of the year compared to the same period in 2025. According to the report, Petrobras President Magda Chambriard stated that the company has been approached by new buyers, particularly from Asian countries, which highlights the growing interest in Brazilian oil amid geopolitical tensions.

At the same time, the country also saw a decline in imports of crude oil and diesel fuel during the same period, which has helped improve the energy trade balance. Foreign purchases of crude oil fell by 2% between January and April, a sign of a significant adjustment in the sector’s foreign trade dynamics. The overall picture suggests that the current international environment has favored the entry of Brazilian oil into foreign markets, with positive effects on the country’s revenue, competitiveness, and strategic positioning.

ANP suspends reform in the cooking gas sector

The ANP approved the temporary suspension of four items on its 2025–2026 Regulatory Agenda, including the revision of resolutions governing the distribution and resale of LPG, commonly known as cooking gas. The decision, published on June 9, 2026, was made as the agency realigned its priorities in light of the highly volatile international fuel market.

The measure reflects a temporary shift in the ANP’s regulatory agenda, which will now prioritize emergency actions related to supply, enforcement, and the implementation of policies aimed at containing prices. In addition to suspending the revision of LPG regulations, other items related to price data, contingency plans for supply restrictions, and updates to penalty criteria have also been put on hold. According to the agency, the goal is to concentrate human and institutional resources on the responsibilities arising from the provisional measures and decrees issued to mitigate the impacts of the international crisis on the Brazilian fuel market.

In the specific case of LPG, the suspension of the reform signals regulatory caution in a segment that is sensitive from a social and political standpoint, especially given the potential impacts on public programs aimed at ensuring access to cooking gas.

ANP approves new enforcement plan aimed at combating abusive fuel pricing

The ANP’s Board of Directors approved a new enforcement plan aimed at combating abusive pricing in the fuel market, with implementation scheduled to begin in July 2026. The initiative, published on June 12, 2026, follows an initial phase of actions that began in March, after the enactment of Provisional Measure No. 1,340/2026 – during which the agency conducted 2,111 on-site and remote inspections across all states to investigate abusive price increases throughout the supply chain.

The new phase calls for a more structured approach, combining overt, educational, and enforcement measures, with an initial duration of three months and the possibility of reassessment depending on developments in the international and regulatory landscape. Between July and September, the agency estimates it will carry out more than 3,000 inspection actions, with a significant focus on price assessments, particularly during the first month of the initiative. According to the ANP, this target represents an increase of more than 40% in inspection efforts compared to the period from March to June.

In addition to increasing the number of inspections, the plan strengthens mechanisms for monitoring, transparency, and prioritizing sanction proceedings resulting from these actions. The strategy signals greater institutional rigor in light of recent geopolitical tensions affecting international oil prices and, consequently, the domestic market, reinforcing the ANP’s role not only as a technical regulator but also as an agent in curbing opportunistic practices amid economic and energy instability.

ANP grants additional time for natural gas importers to comply with quality standards

The ANP’s Board of Directors approved the granting of an additional 90-day period for natural gas importers to comply with the quality control requirements established in ANP Resolutions No. 982/2025 and No. 828/2020. The measure – published on June 12, 2026 – covers obligations related primarily to the issuance of quality certificates for imported gas and the submission of this information to the agency, in line with regulatory efforts to improve the traceability and reliability of data on products sold in the country.

According to the ANP, since the new requirements took effect, in May 2025, companies have faced operational and documentation challenges, particularly due to the absence of qualified professionals authorized to sign the certificates and the lack of internal infrastructure to properly issue these documents. Given this situation, the agency has decided to grant, on an exceptional basis, authorization for companies to bring their compliance up to standard, including the retroactive submission of information, thereby preventing the regulatory adjustment from having a disproportionate impact on the national supply.

The decision reflects the ANP’s pragmatic approach, which seeks to balance regulatory effectiveness with the operational reality of market participants. Although temporary, this regulatory easing reinforces the focus on legal certainty and supply continuity, while preserving the guideline to strengthen natural gas quality control mechanisms in Brazil – an issue of particular relevance in an expanding market with a growing number of multiple importers.

ANP releases Unified Strategic Schedule of Geological and Economic Assessments for 2026–2027

The ANP has released the new Unified Strategic Schedule of Geological and Economic Assessments for the 2026–2027 biennium. The document, published on June 12, 2026, consolidates the agency’s technical delivery schedule and identifies the areas whose geoeconomic evaluation will be prioritized during the period in question, serving as a predictability tool for planning future bids for exploration blocks under the concession and production-sharing regimes.

The ANP noted that the analyzed areas may, in the future, be included in the Permanent Offer – currently the primary bidding mechanism for sedimentary areas for oil and natural gas exploration and production. Among the advances already recorded in 2026 are the designation of 16 onshore blocks in the Paraná Basin, the completion of studies in the South Sapinhoá area within the Pre-Salt Polygon, and the ongoing evaluation of 84 blocks in the Equatorial Margin, whose sectoral configuration is being adjusted following the United Nations’ recognition of the new boundary of the Brazilian continental shelf.

The schedule also calls for key milestones in the short term, such as the evaluations of the southeastern part of Gato do Mato and the western part of Jubarte, as well as studies aimed at including ultra-deepwater areas in the Campos and Santos basins. Although these timelines do not imply automatic inclusion of the areas in bidding rounds, the initiative enhances regulatory transparency and signals coordinated efforts between the ANP and the MME to bring greater rationality and predictability to the country’s policy on offering exploration areas.

ANP delays public consultation on the application of the Recovered Capital Method to gas pipelines

The ANP approved a 15-day extension of Public Consultation No. 11/2026, which addresses the application of the Recovered Capital Method (“RCM”) to gas pipelines operated by NTS (Southeast Network) and TAG (Northeast Network). The deadline for submissions, which was originally set for June 22, 2026, has been extended to July 7, 2026, at the request of the pipeline operators.

The consultation focuses on two technical notes detailing the parameters and assumptions for calculating the RCM, the methodology used to set natural gas transmission tariffs. The extension was justified by the complexity of the issue and the need to ensure maximum transparency, legal certainty, and broad participation by industry stakeholders, market participants, and civil society in the analysis of the proposals.

The extension of the deadline reinforces the ANP’s commitment to public participation and the technical robustness of the regulatory process, at a time when establishing appropriate tariff parameters is essential to enabling the expansion and efficiency of the national gas pipeline network.

Increase in ethanol content in gasoline remains uncertain after another postponement by CNPE

The prospect of raising the mandatory ethanol content in gasoline from 30% to 32% remains uncertain after the National Energy Policy Council (“CNPE”) canceled the meeting scheduled for June 24, 2026, without setting a new date. According to a report by Agência Eixos, the measure was expected following statements by the President of the Republic and the Minister of Mines and Energy, Alexandre Silveira, who had signaled the increase in recent weeks – initially on a temporary and emergency basis, for up to one year.

This is the second time a CNPE meeting intended to deliberate on raising the ethanol blend has been canceled – the first occurred in May 2026. The postponement reflects the complexity of the negotiations involved, given that the sector and agribusiness had advocated increased ethanol use as a measure to reduce dependence on fossil fuels amid rising international prices driven by geopolitical tensions in the Middle East. However, progress in peace negotiations between the United States and Iran may be easing pressure on prices and, consequently, narrowing the window of opportunity for the measure’s approval.

The lack of clarity regarding the timeline creates regulatory uncertainty for the biofuels sector and highlights the challenges of coordinating energy policy, agricultural policy, and the decarbonization agenda.

POWER

Regulation

CCEE may impose fines of up to BRL 50 million under a new sanctioning framework

The Brazilian Electricity Trading Chamber (“CCEE”) is moving forward with the development of a new sanctioning framework that provides for the imposition of significantly higher sanctions, which may reach up to BRL 50 million, depending on the severity of the violations committed by market participants.

The initiative aims to strengthen the governance and compliance framework within the electricity trading sector, aligning with stricter oversight practices, and discouraging conduct that could undermine the market’s functioning. The new model also seeks to provide greater predictability and transparency to the procedures, with a clearer definition of criteria for determining liability and setting sanction levels. The proposal comes amid growing complexity in the electricity sector, marked by the expansion of the free market and the entry of new participants, which requires more robust oversight tools.

Access the draft opinion of Director Gentil Nogueira

ANEEL approves rules for granting storage system authorizations; Ministry of Mines and Energy issues ordinance to conduct auctions

The Brazilian Electricity Regulatory Agency (“ANEEL”) approved, at a board meeting held on June 2, 2026, the regulations applicable to energy storage systems (“SAEs”). The regulations were subsequently formalized by Normative Resolutions No. 1,161/2026 and No. 1,162/2026, published on June 24, 2026, which establish the requirements and procedures necessary to obtain authorization for these projects.

The regulations govern the technical and documentary criteria for the authorization and connection of SAEs, integrating these assets into the regulatory framework of the electricity sector and providing legal certainty for their implementation.

In the same context, on June 1, 2026, the Ministry of Mines and Energy (“MME”) issued Normative Ordinance No. 136/GM/MME, establishing guidelines for conducting two specific auctions for the procurement of power from SAEs, to be held on December 2 and 4, 2026. The instructions for registering projects with the Energy Research Company (“EPE”) were published on June 15, 2026. The initiative aims to encourage the implementation and enable the use of these systems as tools to support the operation of the National Interconnected System (“SIN”), in a landscape of growing participation by intermittent renewable sources.

Demarest prepared a client alert outlining the main aspects of the auctions to be observed by developers.

LRCAP: Approval of results does not end the debate

Demarest’s partner, Henrique Reis, was featured in an article by Agência Infra on the continuation of the Capacity Reserve Auction (“LRCAP 2026”). On that occasion, the partner commented on ANEEL’s decision to keep the deliberation process on its board agenda regarding the approval of the auction contracts, even in light of a Federal Court decision ordering their suspension. In the article, he acknowledged ANEEL’s decision to proceed as appropriate, and praised the legal support provided by the Federal Attorney’s Office to the agency. Following the publication of the article, the contracts were formally approved, and the judicial decision was subsequently revised by the Federal Regional Court of the 1st Region.

Read the full article

Energy storage advances: Battery auctions, new regulation, and gaps

Demarest’s partner, Henrique Reis, was invited by MegaWhat to participate in the MinutoMega podcast. The episode focused on electricity storage in Brazil, a key topic currently under discussion in the Brazilian power sector. During his participation, he addressed, among other aspects, the guidelines of LRCAP 2026 – Storage, the Capacity Reserve Contracting Charge for Storage Systems (“ERCap”), and the regulatory process for energy storage, including the recent publication of the first two normative resolutions on the matter.

Listen to the full podcast episode
Read our client alert on LRCAP 2026 – Storage

Auctions

ANEEL approves results of the 2nd and 3rd LRCAP 2026

ANEEL’s Board of Directors approved, on June 9, 2026, the results and award of the 2nd and 3rd LRCAPs 2026, held in March at the CCEE headquarters in São Paulo. At the 2nd LRCAP, held on March 18, 2026, 18.97 GW of capacity from hydroelectric, natural gas, and coal-fired power plants was contracted, with supply scheduled for 2026-2031. According to ANEEL, approval has been granted for approximately 90% of the bids, with the analysis of 11 projects still pending.

The 3rd LRCAP, held on March 20, 2026, resulted in the contracting of 501.321 MW of capacity from diesel, fuel oil, and biodiesel-fired thermal power plants, with delivery between 2026 and 2030; the auction was fully approved and awarded. The auctions were organized by ANEEL and operated by CCEE, with the aim of strengthening firm capacity and the security of the SIN.

ANEEL approves draft notice for transmission auction

The ANEEL Board of Directors approved – on June 22, 2026, at an extraordinary public meeting held pursuant to Public Consultation No. 6/2026 – Auction Notice No. 4/2026, aimed at awarding public service concessions for electricity transmission. The notice provides for the awarding of these concessions in the states of Bahia, Goiás, Mato Grosso do Sul, Paraíba, Paraná, Rondônia, and São Paulo. The approval followed a technical review by ANEEL and the Federal Attorney General’s Office.

System Operation

ONS implements emergency cut and imposes 1 GW curtailment on SIN

The National Electric System Operator (“ONS”) activated the Emergency Plan for Managing Excess Energy in the Distribution Network for the first time, on June 7, 2026, imposing a curtailment of approximately 1 GW. The measure was adopted to preserve the security of the SIN in light of the expected minimum load resulting from the extended Corpus Christi holiday and high production from distributed micro- and mini-generation (MMGD). This event highlights the growing operational challenges posed by the increased share of variable renewable sources and localized power constraints, underscoring the importance of monitoring power flow conditions and ensuring system-wide operational coordination.

Access the ONS full statement

Regulatory Monitoring

Aneel: board decisions

In June, Aneel made progress on industry issues that had a significant impact on market participants. Below, we highlight some of the main topics, with links to the board’s votes and the published decisions:

Annual Permitted Revenue (“RAP”) for Transmission System Operators – 2026-2027 Cycle: The board unanimously approved the regulatory treatment of extraordinary and exceptional cases affecting the adjustment of the RAP for transmission system operators for the 2026-2027 cycle, resulting from court decisions, defaults, and other factors. (Order No. 2,031/2026).
Transmission Use Agreements (“CUSTs”) for power plants: The board unanimously approved Normative Resolution No. 1,157/2026, which establishes the requirements and procedures for the exceptional mechanism for handling generation authorizations and CUSTs entered into by power plants. This measure, which is voluntary, aims to enable the revocation of generation authorizations and the termination of CUSTs for projects that lack concrete feasibility for implementation, with full waiver of termination charges, in order to release the transmission capacity margin in the transmission system and mitigate the risks of payment default (Normative Resolution No. 1,157/2026). The ONS reported, on June 18, 2026, that it received 223 applications to join the mechanism.

Aneel: allocation of proceedings

In May, new cases were randomly selected and assigned to ANEEL’s directors. Among these cases, we highlight the following, in terms of scope and theme:

Case	Subject Matter	Randomly assigned reporting
48500.016776/2026-84	Regulations governing the generation curtailment (constrained-off) of wind, solar, and hydroelectric power plants.	Gentil Nogueira de Sá Júnior
48500.007732/2007-09	Approvals of the Technical Financial Reserve for Itaipu’s Electricity Trading Account, the Itaipu Bonus Rate, and the amounts to be passed on to distributors for the year 2026.	Agnes Maria de Aragão da Costa
48500.004063/2020-82	Analysis of contracts entered into by energy traders and small-scale distributors.	Willamy Moreira Frota

Monitoring

Brazilian Congress – Highlighted Legislative Proposals

Proposal	Content	House	Date
Bill No. 3230/2026	Establishes the National Program for Distributed Generation with Carbon Credits (“PNGDC”) to establish mechanisms for the measurement, certification, and trading of carbon credits by micro- and mini-generators of electricity from renewable sources, among other measures.	Brazil’s House of Representatives	June 19, 2026
Bill No. 3159/2026	Establishes the Solar Energy Consumer Protection Statute, provides legal certainty for consumers and rural producers participating in distributed electricity generation, prohibits the imposition of retroactive fees, and limits the imposition of new costs on distributed micro- and mini-generation of photovoltaic solar energy.	Brazil’s House of Representatives	June 16, 2026
Bill No. 3086/2026	Amends Law No. 13,203, of December 8, 2015, to expand participation in the centralized competitive mechanism referred to in Article 2-F of Law No. 13,203, of December 8, 2015, to include hydroelectric generation entities that were previously disconnected from the CCEE.	Brazil’s House of Representatives	June 12, 2026
Bill No. 16/2026	Amends Law No. 14,300, of January 6, 2022, to allow for the allocation of electricity surpluses and credits among consumer units located in different concession or permit areas, establishing inter-concession compensation within the scope of distributed micro- and mini-generation.	Brazil’s House of Representatives	February 2, 2026
Bill No. 2983/2026	Amends Law No. 14,300, of January 6, 2022, to provide for the assignment of electricity credits obtained through the Electric Energy Compensation System (“SCEE”) to non-profit entities that deliver services in the areas of social assistance, healthcare, or education.	Brazil’s House of Representatives	June 9, 2026

Federal Court Of Accounts (TCU)

Case	Highlights	Topic	Ruling
009.911/2026-0	Ruling 1420/2026 – Plenary	RenovaBio / CBIOs / Distributors	The TCU rejected the request for a full suspension of the RenovaBio program but ordered the ANP to develop and implement a regularization program for distributors that have failed to meet their CBIO targets for cycles ending on or before December 31, 2024. Until the program is implemented, the effects of administrative sanctions imposed on distributors — including fines and trading bans — are suspended, without prejudice to the continuation of administrative proceedings and the maintenance of obligations related to current and future cycles.
005.914/2026-4	Ruling 1364/2026 – Plenary	Energy Development Account and Reserve Contracts	Review of a preliminary injunction previously granted by the TCU, remanding the case so that the technical departments can evaluate appropriate remedial measures.
024.132/2025-0	Ruling 1360/2026 – Plenary	Transmission	The MME filed the Request for Consensual Resolution to resolve disputes involving five electricity transmission concession contracts. The works had made no physical progress, prompting ANEEL to recommend terminating the contracts. The concessionaire invoked defenses to liability, such as third-party and government acts. Considering the importance of the projects to the SIN, the risk of litigation, and the time required for a potential new bidding process, the MME sought a consensual solution before the TCU.

New Sector Agenda – July

Day	Event	Segment	Information
01	SINREM 2026 – National Seminar on Energy Regulation and Markets	Sector-wide	Website
01	VIII SINRENOVA – Seminar on the Integration of New Renewable Energy Sources and Smart Grids into National Energy Planning	Energy Planning	Website
16	Open Energy Brazil – Debate on the Future of Energy Data	Distribution, Generation, Trading	Website
20	International Conference – “Bridging Continents, Fueling Progress: Energy Development in a Global Context”	Oil, Gas, and Energy	Website
21 and 22	Greener Summit 2026	Sector-wide	Website
29 to 31	Sergipe Oil & Gas 2026	Oil and Gas	Website

Auctions

October 2026 – LRCAP 2026 – Storage

More information here.

October 2026 – Transmission Auction 001/2026

More information here.

October 2026 – Transmission Auction 002/2026

To be held by ANEEL.

November 2026 – 2026 Existing Energy Auctions A-1, A-2, and A-3

To be held by ANEEL.

April 2027 – Transmission Auction 001/2027

To be held by ANEEL.

October 2027 – Transmission Auction 002/2027

To be held by ANEEL.

RENEWABLES

HIGHLIGHTS:

MME and EPE release additional data for the 2035 PDE

The MME and the Energy Research Company (“EPE”) have released a set of studies and additional data for the 2035 Ten-Year Energy Expansion Plan (“PDE”), thereby increasing the transparency of national energy planning. The initiative, published on June 3, 2026, provides additional information on the methodologies, assumptions, and results that guide the expansion of Brazil’s energy mix from 2026 to 2035, allowing industry stakeholders, investors, and the public greater access to the technical basis of the official projections.

Among the materials released, the 2035 PDE Results Dashboard stands out – an interactive tool that consolidates indicators such as domestic energy supply, expansion of electricity generation, installed capacity, final consumption, greenhouse gas emissions, and projected investments. In addition, complete databases have been made available for download, along with a detailed list of transmission projects included in the plan – including transmission line and substation projects –, which contributes to a better understanding of the expansion of the national electricity infrastructure.

By making these tools and data available, the Federal Government seeks to enhance regulatory predictability, encourage independent analysis, and support market-driven decision-making in the context of the energy sector’s growing complexity, which is marked by the expansion of renewables, the need to strengthen transmission infrastructure, and progress on the decarbonization agenda.

Petrobras and FINEP launch BRL 150 million public notice to develop a hydrogen electrolyzer

The joint notice by Petrobras and the Brazilian Agency for the Financing of Studies and Projects (“FINEP”) was launched on June 16, 2026, with a budget of BRL 150 million. The public notice covers the development of an industrial-scale electrolyzer, which is essential for the production of low-carbon hydrogen. The initiative aims to promote the local manufacturing of equipment that Brazilian industry has yet to fully master, particularly the stack – the central component of the electrolysis process, where water is split into hydrogen and oxygen.

The public notice provides for an investment of BRL 75 million per institution and establishes a minimum requirement of 50% domestic content. The supported project must bring together at least three partner companies and one Science, Technology, and Innovation Institution, covering everything from basic engineering to the construction of a pre-commercial prototype. The proposal aligns with the strategy to reduce dependence on foreign technology, expand domestic industrial capacity, and lower the cost of producing hydrogen via electrolysis, which has been identified as a key barrier to its large-scale adoption.

The measure reinforces the push to integrate low-carbon hydrogen into Brazil’s energy transition agenda, particularly in sectors where decarbonization is challenging, such as steelmaking, chemicals, and refining. It also signals a more intensive use of industrial and innovation policy tools to structure emerging production chains in the country. In this regard, the public notice goes beyond one-off research funding and positions itself as part of a broader strategy for technological development, local content, and Brazil’s competitive positioning in markets linked to industrial decarbonization.

Petrobras, BNDES, and FINEP formalize private equity investment fund of up to BRL 500 million focused on energy transition

Petrobras, BNDESPAR, and FINEP signed – on June 23, 2026, during the Energy Summit in Rio de Janeiro – an agreement marking a new phase in the structuring of the Private Equity Investment Fund (“FIP”) focused on the energy transition and decarbonization. The fund, which has a target capital of up to BRL 500 million, will now receive and evaluate investment opportunities in areas such as renewable energy, biofuels, e-fuels, hydrogen, carbon capture, and storage (CCUS), and electromobility.

Petrobras plans to invest up to BRL 250 million, limited to 49% of the fund, while the BNDES may contribute up to BRL 125 million (25%), and Finep, using resources from the National Fund for Scientific and Technological Development (“FNDCT”), will contribute BRL 60 million. In addition, the FIP is open to contributions from other investors, which could raise the total investment to BRL 500 million. The fund will focus on companies with a validated Minimum Viable Product (MVP) and growth potential.

The initiative stems from the Technical Cooperation Agreement signed in June 2023 between BNDES and Petrobras, which established the Joint Commission in the areas of oil and gas, scientific research, energy transition, and productive development. The FIP consolidates an important tool aimed at financing emerging technologies and strengthening strategic production chains for the decarbonization of the economy, positioning Brazil as a hub of innovation in cutting-edge segments of the energy transition.

NEWS

Petrobras to invest up to BRL 23 million in the collection and sale of WOF

Petrobras announced that it will allocate up to BRL 23 million to projects focused on the collection and sale of waste oils and fats (“WOF”), such as used cooking oil, as part of the Petrobras Socio-Environmental Program. The initiative, published on June 3, 2026, provides for a public notice in municipalities near the company’s refineries and Petrobras Biocombustível facilities, with three opportunities in São Paulo and one in Bahia. The announcement highlights the state-owned company’s interest in fostering waste recycling chains with the potential for use in the production of fuels with renewable content.

The funds will be allocated to projects focused on strengthening, organizing, and training waste pickers’ associations, cooperatives, and collectives, with the aim of improving logistics, warehouse infrastructure, and the structure of collection sites. Petrobras emphasized that the reuse of waste oil can contribute to the production of fuels with renewable content, such as Sustainable Aviation Fuels (“SAF”), in addition to generating significant environmental benefits by preventing improper disposal into sewer systems and water bodies. The proposal, therefore, brings together energy transition, circular economy, and social inclusion under a single framework.

Projects must have a duration of 36 months, and applications will remain open until July 3, 2026. In Bahia, investment could reach BRL 5 million, while in São Paulo, each project could receive up to BRL 6 million. In addition to the environmental impact, the initiative aims to increase income generation, professional training, and the productive organization of waste pickers, incorporating the issue of waste collection into the broader debate on a just energy transition and sustainable development associated with Petrobras’ operations.

CDESS recommends ending fossil fuel subsidies

On June 10, 2026, the Council for Sustainable Economic and Social Development (“CDESS”), known in Portuguese as “Conselhão,” presented recommendations to the Federal Government for the COP30 roadmap, highlighting the proposal to phase out fossil fuel subsidies. The document points out that explicit and implicit incentives for oil, gas, and coal distort prices, create fiscal dependence, and slow down the process of decarbonizing the energy matrix.

Among the suggested measures is the establishment of a timeline to phase out direct and indirect subsidies, starting with tax incentives considered regressive, such as tax exemptions and tax breaks. The report also proposes the creation of a selective tax on fossil fuels and the periodic review of tax benefits based on criteria of efficiency and climate impact. The estimate cited in the document indicates that global subsidies to the sector amount to trillions of dollars, while in Brazil, tax benefits for the sector reached approximately BRL 47 billion in 2024.

The proposal also provides for the funds saved through the reduction of subsidies to be redirected toward renewable energy and compensatory social policies, promoting a more sustainable and equitable energy transition. The CDESS acknowledges, however, that the implementation of these measures will face political and economic resistance, and advocates for a gradual process accompanied by compensation mechanisms to preserve fiscal and social stability throughout the transition.

Regulations on sustainable aviation fuel may be published soon, says MME director

The MME indicated that the decree regulating the use of sustainable aviation fuel is about to be published and is currently with the Office of the Chief of Staff for final processing. The information, released on June 17, 2026, was presented by a ministry representative during an event of the sector, according to reports by Eixos.

The decree aims to implement the Fuel of the Future Act (Law No. 14,993/2024), establishing guidelines for the production, certification, and use of sustainable aviation fuel in Brazil. The fuel, produced from renewable raw materials such as vegetable oils, fats, and ethanol, is considered one of the main solutions for decarbonizing the aviation sector, with the potential to reduce greenhouse gas emissions associated with aviation by up to 80%.

The publication of the decree is seen as a key step toward ensuring regulatory predictability and enabling investments in the biorefinery chain, as well as allowing for the implementation of mandatory emissions reduction targets starting in 2027 – initially set at 1%, with a gradual increase over the next decade. The measure is expected to position Brazil as a potential global supplier of sustainable fuels and integrate the country into the international agenda for aviation decarbonization.

First hydrogen auction postponed to 2027, according to the Ministry of Finance

The Ministry of Finance has indicated that Brazil’s first low-carbon hydrogen auction is not expected to take place until 2027, postponing the previous expectation that it would be held in 2026. According to the timeline presented by the Secretariat for Economic Reforms and published by the Ministry of Finance on June 17, 2026, the plan is to publish the auction notice in January 2027, following the completion of the preparatory steps necessary to structure the auction.

The auction’s design is linked to the implementation of the BRL 18.3 billion in incentives provided for in the Low-Carbon Hydrogen Development Program (“PHBC”, in Portuguese) and includes the definition of a pricing methodology, eligibility criteria, and market parameters. Prior to that, the Federal Government intends to conduct a public consultation before the end of 2026, with the aim of gathering input from industry stakeholders and refining the regulatory framework.

The postponement of the auction reflects the challenges in consolidating Brazil’s regulatory framework for hydrogen, which still depends on a specific decree. The lack of clear rules has impacted investment decisions in a high-potential market estimated at over BRL 180 billion. However, efforts are still underway to create conditions of predictability and legal certainty to enable projects and consolidate a new production chain aligned with the energy transition.

São Paulo enters into partnership for carbon capture pilot project

The São Paulo State Government has entered into a partnership to develop a pilot project for carbon capture and storage (“BECCS”) in ethanol production, marking the start of a pioneering initiative in Brazil’s sugar-energy sector. The collaboration involves the Secretariat of Environment, Infrastructure, and Logistics (“SEMIL”), the São Paulo State Research Support Foundation (“FAPESP”), and the Polytechnic School of the University of São Paulo (“EPUSP”), as well as private entities such as Petrobras and the São Martinho Group, with a total estimated investment of BRL 30 million.

The project will be led by the newly created Center for Biogenic Carbon Capture and Storage Technologies (“CTCCSBio”), which will operate on five main fronts: socio-environmental aspects, regulation, technology, infrastructure, and the market. The proposal includes the development of solutions for the capture, purification, transport, and geological storage of CO₂ generated during ethanol production, as well as the mapping of underground reservoirs suitable for this purpose.

The adoption of BECCS technology has the potential to transform sugarcane ethanol into a “carbon-negative” fuel, as the CO₂ emitted during the production process is captured and permanently stored, offsetting and even exceeding the associated emissions. The initiative aligns with the state government’s climate strategies and seeks to establish São Paulo as a leader in decarbonization solutions while strengthening the biofuels sector’s international competitiveness amid growing global environmental demands.

OPPORTUNITIES

TYPE	DESCRIPTION	CONTRIBUTION DEADLINE	CODE / NOTES
Petróleo Brasileiro S. A	Procurement of FCCs, QDCCs, and battery systems for telecommunications equipment under a global contract.	June 24, 2026, at 5 p.m.	7004606634
Petróleo Brasileiro S. A	Technical support services for FPSO projects in the SEAP-II field.	July 8, 2026, at 5 p.m.	7004609336
Petróleo Brasileiro S. A	Technical support services for FPSO projects in the SEAP-II field.	July 8, 2026, at 5 p.m.	7004609335
Petróleo Brasileiro S. A	Chartering of two Anchor Handling Tug Supply (AHTS) vessels, including the provision of specialized technical services.	July 21, 2026, at 12 p.m.	7004345558
Petróleo Brasileiro S. A	Chartering of helicopters to serve Petrobras in connection with Lots E, F, and G.	July 21, 2026, at 5 p.m.	7004601639
Petróleo Brasileiro S. A.	Supply of a Floating Production Storage and Offloading (FPSO) unit and provision of pre-operation, operation, and maintenance services under a Build-Operate-Transfer (BOT) arrangement for the Albacora Revitalization Project.	July 27, 2026, at 12 p.m.	7004415516
Petróleo Brasileiro S. A.	Subsea EPCI – Engineering design, supply of goods, installation, and subsea interconnection (SEAP).	August 14, 2026, at 12 p.m.	7004597133
Petróleo Brasileiro S. A	Contract for Engineering, Procurement, and Construction (EPC) services to complete the following units: warehouses 78B and 78D; substations (SE-5200, SE-8020, SE-8040, SE-6900, and SE-9000); Emergency Response Center (“CRE”); cooling towers (U-52 and U-53); industrial wastewater treatment plant (U-90) and Emergency Response Training Center (“CTCE”); as well as the commissioning of all systems.	August 31, 2026, at 12 p.m.	7004579659
Call for Contributions (“TS”) – ANEEL
	No highlights.
Public Consultations (“CP”) – ANEEL
CP 017/2026^NEW	Gather input to establish the CCEE’s sanctioning process.	Until August 3, 2026
CP 016/2026^NEW	Gather input for improving Joint Regulatory Impact Analysis Report No. 1/2026-STR/STD/ANEEL and the proposed regulation regarding the method for setting a fixed charge to cover commercial costs in the rate structure applicable to low-voltage consumers, as part of the distribution rate modernization agenda-Cycle 1.	Until September 8, 2026
CP 015/2026^NEW	Gather input for improving the Regulatory Impact Analysis Report and the draft normative resolution amending Annex VIII of Normative Resolution No. 948, dated November 16, 2021.	Until July 13, 2026
CPs – MME
	No highlights.

* Please note that the deadlines in the table above are subject to constant change; therefore, the deadlines listed here were in effect at the time of this newsletter’s publication.