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Energy and Natural Resources Newsletter | No.17
January 11th, 2024
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 collaboration between our “Oil & Gas” and “Energy” teams.
The newsletter was designed within the context of the energy transition that is being targeted in Brazil, and drafted as a complete source of information about the dynamic Brazilian energy market within 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 legal team.
Oil and Gas
HIGHLIGHTS
ANP approves first Strategic Economic Studies Plan
On December 07, 2023, the board of the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) approved the first Strategic Economic Studies Plan (“PEE”). In order to carry out long-term studies on priority and strategic topics to be defined by the ANP’s board, the PEE will conduct empirical studies using statistical, econometric or computer modeling methods.
Thus, the PEE will contribute to expanding the ANP’s knowledge of the regulated sector, as well as enabling regulatory improvements. The first version of the plan includes 7 topics to be discussed during the 2024-2025 biennium. Below are the topics to be studied, along with the respective delivery dates:
- Access to facilities in the oil, natural gas and biofuels industry: theory and regulation (January 2024);
- Measures to encourage incremental production in mature fields, impacts on oil activity and possible regional influences (June 2024);
- LPG market: structure, pricing, flows and consumer market (December 2024);
- Automotive fuel resale market: concentration mapping, improvement of cartel detection methodologies and competitive relations between distributors and resale stations (April 2025);
- Vertical integration in the downstream chain: history, motivations and results (June 2025);
- Biofuel markets: structure, pricing, development and impacts on the low-carbon economy (November 2025); and
- Agent-based models for the fuel industry (December 2025).
Click here to access the article.
Pre-Salt: ANP forwards geo-economic studies for two additional blocks to the MME
On December 07, 2023, the ANP’s board approved geological studies that resulted in the delimitation of two new exploration blocks (Rubi and Granada), located in the Pre-Salt area of the Santos Basin. According to the ANP, the area analyzed covers a total of 1,200 km² and its oil potential was estimated at 2.1 billion barrels of oil equivalent, considering risks and uncertainties.
The studies showed favorable conditions for technically and financially viable projects in the region. Considering the geographical position of the Pre-Salt Polygon, the geo-economic studies focused on the SS-AUP1 and SS-AUP2 sectors, which according to the Classification of Exploratory Models for Sedimentary Basins, are associated with the new exploratory frontier model.
Following this approval, the ANP will forward the studies to the Ministry of Mines and Energy (“MME”), which is expected to analyze the inclusion of these blocks in future bidding rounds.
Click here to access the article.
RenovaBio breaks record for decarbonization credits
On December 08, 2023, the ANP announced that the National Biofuels Policy (“RenovaBio”) set a new record for the issuance of decarbonization credits (“CBIOs”) during the month of November 2023. According to the article, 3.4 million CBIOs were issued during the reference period, which is equivalent to 3.4 million tons of CO2 no longer emitted.
Click here to access the article.
ANP holds OPC and OPP cycles in December
On December 13, 2023, the ANP held the public sessions of the 4th Cycle of the Concession Open Acreage (“OPC”) and the 2nd cycle of the Open Acreage of Production Sharing (“OPP”).
During the 4th OPC cycle, 192 exploration blocks were sold, which is considered a record in the bids held so far. As reported by the ANP, the winning bids generated BRL 421,712,292.83 in signature bonuses and will result in an investment of at least BRL 2,012,660,000.00 during the exploration phase alone. The bonus premium was 179.69% and the blocks were bought by a total of 15 companies. On the occasion, the area with marginal accumulations in Japiim was also sold, generating a signature bonus of BRL 165,000.00 and an estimated investment of BRL 1,200,000.00.
The fact that a block beyond 200 nautical miles was auctioned for the first time (block S-M-1378, in the Santos Basin) was another highlight of the 4th OPC cycle.
As for the 2nd OPP Cycle, the Tupinambá block was sold. The ANP reported that BRL 7,047,000.00 were raised in signature bonuses and that the percentage of oil offered to the Federal Government was 6.5%, with a premium of 33.2% compared to the minimum established by the tender protocol. An investment of BRL 360 million in the area sold is planned for the exploration phase.
Click here to access the article.
ARSESP amends regulations to boost free piped gas market in São Paulo
On January 2, 2024, the São Paulo State Sanitation and Energy Regulatory Agency (“ARSESP”) published ARSESP Resolution No. 1485/2023, amending ARSESP Resolution No. 1061/2020, which establishes the guidelines for the provision of local piped gas services to Free Users, the conditions for authorization of the Supplier, the measures to promote the Free Natural Gas Market in the State of São Paulo and other measures.
The new resolution (i) streamlines the process of obtaining the authorization of supplier of natural gas; (ii) changes the status of the Partially Free User, due to the removal of the period of permanence, allowing consumers to remain as Partially Free for indeterminate period; (iii) reduces the maximum deadline for the service by the concessionaire in the event of a return to the captive market, which was adjusted from two years to three months; (iv) allows supply contracts to be terminated early, which helps unbonded users to return to the free market; (v) increases the deadline for submitting gas purchase and sale contracts to ARSESP to 60 days; and (vi) allows distributors to reduce their contracted daily quantity, without applying penalties in cases of user migration to the free market.
Click here to access ARSESP Resolution No. 1485/2023.
NEWS
ANP releases new executive summaries of development areas
On December 06, 2023, the ANP published 5 new executive summaries of the Espadim, Manjuba, Muriqui, Caboclinho Branco, Tucano Grande and Tucano Grande Sul development areas, which resulted from recent declarations of commerciality.
Below is information on each of the development areas:
|
Development Area |
Origin | Round | Operator | Extension |
| Espadim and Manjuba | Norte de Brava Block, in the Campos Basin, both areas with shared deposits. | 1st OPP cycle | Petrobras | Espadim has 3.95 km² and Manjuba has 4.78 km² |
| Muriqui | ES-T-496 block, land portion of the Espírito Santo Basin. | 11th round | BGM Petróleo e Gás Natural Ltda. | 13.93 km² |
| Tucano Grande and Tucano Grande Sul | Blocks TUC-T-139 and TUC-T-147, located in the land portion of the Tucano Sul Basin, in the State of Bahia. | 11th round | Imetame Energia S.A. | 2.13 km² and 1.28 km², respectively |
| Caboclinho Branco | BT-POT-55th block, located in the land portion of the Potiguar Basin, in the state of Rio Grande do Norte. | 7th round | Águila Energia e Participações Ltda. | 18.11 km² |
Click here to access the article.
ANP approves resolution on accreditation of local content certifiers
On December 07, 2023, the ANP’s board approved Resolution No. 963/2023, which provides for the accreditation of local content certifiers for goods and services. The provisions of the new regulation include:
- simultaneous accreditation at the Brazilian National Institute of Metrology Standardization and Industrial Quality (“INMETRO”) for certification bodies;
- registration of local content certificates and cancellation of accreditation;
- application of sanctions for non-compliance with the requirements;
- review and consolidation of forms and guidelines complementary to the resolution; and
- audits and supervisory activities of the ANP.
The current resolution repealed ANP Resolution No. 869/2022.
Click here to access the article.
Dynamic dashboard with natural gas quality data is published
On December 08, 2023, the ANP published the Dynamic Dashboard on the Quality of Natural Gas Production and Imports. The tool aims to provide a comprehensive view of the quality of natural gas, using data from quality certificates sent by producers and importers to the ANP.
Click here to access the article.
CNPE approves new industry measures
On December 19, 2023, the Brazilian National Council for Energy Policy (“CNPE”) approved a series of measures for the oil, natural gas and biofuels sector, at a meeting attended by the ANP’s board.
The approved measures include:
- The early implementation of the 14% (B14) biodiesel blend mandate for diesel sold to domestic consumers, for the period of March 2024, even though the index is only expected to be reached in 2025.
- Temporary suspension of biodiesel imports.
- The creation of a Working Group (“WG”) to draft a Regulatory Impact Analysis (“RIA”) on the impacts of biodiesel imports and the Social Biofuel Seal.
- The creation of a WG to study the technical feasibility of increasing the percentage of ethanol in gasoline from 27.5% to 30% (E30).
- Technical and economic standards for the bidding of 11 blocks under the production sharing regime, in the Open Acreage System (Itaimbezinho, Ametista, Ágata, Mogno, Jaspe, Amazonita, Safira Leste, Safira Oeste, Citrino, Larimar and Ônix), which is expected to generate a total signature bonus of BRL 400.6 million.
- The expansion of the minimum percentage of local content for blocks located at sea.
- A request to the ANP to regulate contractual clauses that show preference for hiring Brazilian suppliers.
ANP approves 2024 Annual Inspection Plan
On December 21, 2023, the ANP’s collegiate board approved the 2024 Annual Inspection Plan, which establishes quantitative targets for field actions and lower court rulings for the ANP’s supply inspection area.
The new plan was based on the experience of the field teams, the systematization of accumulated knowledge, the optimization of resources available at the ANP and the use of data intelligence, among other intelligence vectors.
The plan also presents an assessment of general demands for supply inspection actions and a model for estimating the agency’s desired inspection capacity for the coming years, also taking into account regional dynamics.
Click here to access the article.
GeoMapsANP
On December 22, 2023, the ANP published GeoMapsANP, an advanced platform for searching and visualizing the location of technical data from the oil and natural gas exploration and production (E&P) sector on interactive maps. The system also enables georeferenced information to be downloaded via files. GeoMapsANP replaces the previous GeoANP, which was discontinued in 2022.
The launch corresponds to the first phase, covering technical data such as blocks, fields, wells, 2D and 3D seismic surveys. The second phase is scheduled for 2024, and will include data relating to bidding rounds and infrastructure data, such as oil and gas pipelines and refineries, making the platform more complete.
In the future, GeoMapsANP will be integrated into the Sisroc system, which will be made available by the ANP in the first quarter of 2024, dedicated to managing and consulting rock and fluid data.
By launching this new tool, the ANP aims to provide data transparency for its regulated sector using a modern tool that is in line with its innovation guidelines.
Click here to access the article.
O&G Production: ANP releases consolidated data for November
On December 28, 2023, the ANP released data from the Monthly Bulletin of Oil and Natural Gas Production for November 2023.
During this period, the total domestic production of oil and natural gas was 4.698 million barrels of oil equivalent per day (MMboe/d), surpassing the record previously achieved in September 2023.
Oil production amounted to 3.678 million barrels per day (MMbbl/d), an increase of 3.8% compared to October 2023, and an increase of 18.8% compared to November 2022. As for natural gas, production was 162.12 million cubic meters per day (MMm³/d), representing a drop of 6.3% compared to October 2023 and an increase of 15.5% compared to November 2022.
Click here to access the article.
Click here to access the Monthly Bulletin of Oil and Natural Gas Production.
RenovaBio and goals for 2024
On December 28, 2023, ANP announced the preliminary goals for reducing greenhouse gas (GHG) emissions, which will be applied to all fuel distributors. The final annual goal will be published in its reference year.
Click here to access the article.
Power
HIGHLIGHTS
Normative Resolution improves retail trading and provides more flexibility for consumers migration to ACL
After the 1st phase of Public Consultation No. 28/2023, which analyzed the flexibilization of requirements for the migration of consumers to the Free Contracting Environment (“ACL”), as well as the feasibility of aggregating metering data, on December 20, 2023, Normative Resolution No. 1,081/2023, of the Brazilian National Electricity Regulatory Agency (“ANEEL”), was published addressing this topic.
Among the numerous changes, we highlight the provision on the resolution and termination of retail trading contracts, whether for breach of contract, on the initiative of one of the parties, or by mutual agreement.
In addition, the regulation clarifies that retail agents will be responsible for updating the registration data of their represented parties before the Electric Energy Trading Chamber (“CCEE”), for aggregating consumers’ data, and for managing all the information regarding retail trading.
This regulation also allowed distribution companies to serve group A consumers – with a load not exceeding 500 KW –, who have terminated their retail representation as an alternative to suspension of energy supply.
Click here to access Normative Resolution No. 1,081/2023 in full
Bill on infrastructure debentures is approved by the Brazilian House of Representatives
On December 13, 2023, the Brazilian House of Representatives approved Bill No. 2,646/2020, which addresses infrastructure debentures, amends the legal framework for incentivized debentures and the Infrastructure Private Equity Investment Fund (“FIP-IE”), the Investment Funds in Intensive Economic Research, Development, and Innovation (“FIP-PD&I”), as well as the Incentivized Infrastructure Investment Fund (“FI-Infra”).
This bill determines that special purpose companies, concessionaires, licensors, authorizers, or lessees, incorporated as joint stock companies, can issue debentures. The funds raised from this issuance will be allocated to the implementation of priority infrastructure or research projects.
Once published, the law will still depend on a regulatory decree, which will establish the criteria for framing projects, as well as measures to foster actions generating environmental or social benefits.
Click here to access the final wording of the Bill in full
Decree changes CCEE governance structure
On December 21, 2023, Decree No. 11,835/2023 was published, which modifies the CCEE governance structure. The key changes introduced are highlighted as follows:
- CCEE’s Board will be formed by eight members, serving non-coincident two-year terms. The president of the board and three of these members will be appointed by the Ministry of Mines and Energy (“MME”), and four of them will be appointed by the agents of the generation, distribution, trading, and consumption categories – one member per category.
- The president of the board will cast a tie-breaking vote in the event of a tie in the voting session.
- Creation of the CCEE Board, formed by up to six directors serving two-year terms. The Chief Executive Officer of the CCEE will be appointed by the MME.
- The CCEE will operate in energy certification systems, running a platform for certification registrations.
ANEEL will amend the Electric Energy Trading Convention within 90 days from the publication of this decree. Once approved, the CCEE will have 50 days to resolve, at a general meeting, on the changes to its bylaws.
Click here to access Decree No. 11,835/2023 in full.
NEWS
ANEEL establishes criteria for the elaboration and setting of PMO and PLD
On December 08, 2023, ANEEL published Normative Resolution No. 1,078/2023, which establishes criteria and procedures for the drafting of the Monthly Energy Operation Program (“PMO”), as well as for setting the Marginal Operation Cost (“CMO”) and the Difference Settlement Price (“PLD”). The CCEE is expected to adapt the Trading Regulations and Procedures to the new provisions within 90 days.
Click here to access REN No. 1078/2023
TAR and PMEH are updated by ANEEL
On December 12, 2023, ANEEL, through Order No. 4,774, supplemented by Technical Note No. 168/2023, established (i) the Updated Reference Rate (“TAR”) for calculating the Financial Compensation for the Use of Water Resources (“CFURH”); and (ii) the Average Hydraulic Energy Price (“PMEH”) for calculating the proceeds from the collection of the Tax on Circulation of Goods and Services (“ICMS”) to be credited to the municipalities. The amounts are BRL 94.45/MWh and BRL 232.25/MWh, respectively, which entered into force on January 01, 2024.
Click here to access Order No. 4,774
CAMEX limits tax exemption on the import of panels and wind turbines
On December 12, 2023, the Executive Management Committee (“GECEX”) of the Brazilian Chamber of Foreign Trade (“CAMEX”) approved tariff changes in panels and wind turbines in order to foster the Brazilian production of solar panels and wind turbines. Among these measures, we highlight:
- CAMEX decided to suspend the reduction of the import tariff levied on assembled panels, so that both the purchase and the import of solar modules will imply the collection of import tax. From 2024 onwards, a 10.8% tax will be collected. For companies under a temporary import tax reduction (324 revoked tariffs), this measure will enter into force within 60 days.
- Increase in the power limit of wind turbines subject to exemption from the import tax on wind turbines. Only equipment with power capacity greater than 7,500 kVA will remain exempt for a period of one year. From 2025 onwards, all imports will be subject to 11.2% tax.
Click here to access the article in full
ANEEL approves Electric Energy Trading Regulations applicable to the SCL
On December 19, 2023, Normative Resolution No. 1,080/2023 was published, approving the Electric Energy Trading Regulations applicable to the Accounting and Settlement System (“SCL”).
This regulation amended ANEEL Normative Resolution No. 1,009/2022 and No. 957/2021 in order to establish that group A consumer units, classified as “special consumers”, can be integrated by both Direct and Indirect Administration bodies (formerly, the provision only referred to Direct Administration bodies).
In addition, this regulation amended article 106 of ANEEL Normative Resolution No. 957/2021 in order to establish the adjustment order of energy amounts in the event that the agent has not provided sufficient financial guarantees to support the purchase and sale of energy, including purchase contracts by retail agents.
Click here to access the resolution in full.
ANEEL amends regulations on the registration review of consumers entitled to tariff benefits
On December 20, 2023, Normative Resolution No. 1,082/2023 was published, which amends ANEEL Normative Resolution No. 1,000/2021, in order to establish that distributors must carry out a registration review of consumer units entitled to tariff benefits every 3 years, as well as to lay down the conditions for granting tariff benefits on the basis of self-declaration by consumers.
Click here to access Normative Resolution No. 1,082/2023 in full
ANEEL approves minimum and maximum PLD limits for 2024
On December 22, 2023, Ratifying Resolution No. 3,304/2023 was published, which approved the maximum and minimum PLD limits for 2024. As approved, the Maximum Structural PLD will be BRL 716.80/MWh, the Minimum PLD will be BRL 61.07/MWh, and the Maximum Hourly PLD will be BRL 1,470.57/MWh.
This resolution also approved the rate for the: (i) Ancillary Services Tariff, which will be BRL 9.48/Mvar-h; (ii) Optimization Energy Tariff, set at BRL 15.83/MWh; and (iii) Itaipu Optimization Energy Tariff, set at BRL 61.07/MWh.
Click here to access Ratifying Resolution No. 3,304/2023 in full
ANEEL determines PROINFA charge
On December 21, 2023, through Order No. 5006, ANEEL set the quota amounts for the funding of the Programme of Incentives for Alternative Electricity Sources (“PROINFA”) to transmission companies that serve free consumers and/or self-producers with consumption units connected to the facilities of the Basic Network of the National Interconnected System. The deadlines for collecting the amounts close on January 10, 2024.
Click here to access Order No. 5006 in full
Renewable And Other Energy Sources
COP 28 and measures for Brazil’s energy sector
On December 13, 2023, the 28th Conference of the Parties (“COP 28”) was held in Dubai, and addressed several important topics in the scope of energy transition. The key measures involving the energy sector are described below:
- Brazil-UK Hydrogen Hub: Brazil and the United Kingdom have signed a bilateral agreement to develop the “Brazil-UK Hydrogen Hub”. The agreement aims to develop research and foster technological advances in order to boost investments in low-carbon hydrogen. Click here to access the article in full
- Global Offshore Wind Alliance: On December 04, 2023, Brazil joined the Global Offshore Wind Alliance (“GOWA”). Click here to access the article in full
- Declarations for hydrogen certification and trade are signed: The MME signed two statements for (i) the mutual recognition of hydrogen certification systems from other countries; and (ii) for proposing actions to develop the international hydrogen trade. Click here to access the article in full
- Donation from Norway to the Amazon Fund: Norway announced the donation of USD 50 million (approximately BRL 250 million) to the Amazon Fund. Click here to access the article in full
- COP Report: On December 13, 2023, the final COP report was published, through which the parties committed to reducing the use of fossil fuels by 2050, as well as increasing renewable energy capacity threefold by 2030.Click here to access the article in full
Brazilian government announces investment of BRL 20 billion for development and innovation in energy transition area
On December 01, 2023, during the 28th edition of the Conference of the Parties (“COP 28”), held in Dubai, the Brazilian Government announced an investment of more than BRL 20 billion to support projects aimed at energy transition, bioeconomy and decarbonization of industry and advanced mobility in Brazil. The Ministry of Science, Technology and Innovation (“MCTI”), the Brazilian Funding Authority for Studies and Projects (“FINEP”) and the Brazilian National Bank for Economic and Social Development (“BNDES”) drafted the five notices for the Mais Inovação Brasil program.
Of the total amount, BRL 20 billion will be divided between FINEP and BNDES and provided as credit, offering the best financing conditions in Brazil.
In addition, through continuous calls, BRL 850 million in non-reimbursable funds from FINEP will be made available, allowing companies to carry out their boldest innovation projects. These funds will support projects in areas such as renewable energies (low-carbon hydrogen, clean energy generation and energy storage), bioeconomy (sustainable fuels for aviation, bioproducts and green chemistry), sustainable mobility (technologies for decarbonizing transport), aviation (more sustainable technologies) and waste (use of solid urban and industrial waste).
Click here to access the article.
BNDES and World Bank sign USD 1 billion agreement to boost Brazil’s low-carbon hydrogen sector
On December 02, 2023, the BNDES and the World Bank signed a memorandum of understanding aimed at establishing financing mechanisms for the entire low-carbon hydrogen value chain. The document encompasses carbon capture projects, electrolysers and related equipment, logistics and shared infrastructure in hubs dedicated to this technology, synthetic fuels and industrial decarbonization.
The agreement, signed during COP 28 in Dubai, confirms the possibility of co-financing, guarantees, technical assistance funding and the development of a credit line by banks. The memorandum also fosters the sharing of knowledge to encourage investments in low-carbon hydrogen in Brazil, reinforcing existing resources and sparking a more extensive dialogue on these topics, both in Brazil and around the world.
While signing the document, the BNDES and World Bank representatives emphasized the importance of a credit line of up to USD 1 billion from the World Bank, aimed at creating a risk fund to support hydrogen projects.
Click here to access the article.
Brazil signs declarations for hydrogen certification and trade
On December 05, 2023, Brazil’s Ministry of Mines and Energy, aiming to boost Brazil’s potential in the low-carbon hydrogen sector, signed two declarations at the High-Level Hydrogen Roundtable, an event that took place at COP 28 in Dubai and was attended by several ministers.
The first declaration aims to achieve mutual recognition of hydrogen certification systems between countries, thus strengthening the Hydrogen Legal Framework (Substitute Bill 2,308/2023), which is supported by the MME and was approved by the House of Representatives on November 28, 2023.
The second declaration signed aims to suggest public and private actions to advance international hydrogen trade. It is important to highlight that Brazil is already a member of the International Hydrogen Trade Forum.
Click here to access the MME’s release.
ANP proposes review of resolution on RenovaBio emission reduction targets
On December 21, 2023, the ANP’s board approved a public consultation, followed by a hearing, on the proposed review of ANP Resolution No. 791/2019. This resolution concerns the individualization of mandatory annual greenhouse gas emission reduction targets for fuel sales under RenovaBio.
It is aimed at adding to the regulation the option of reducing individual fuel distributor targets based on long-term contracts established between fuel distributors and Ethanol Trading Companies (“ECEs”).
The possibility of reducing the target through long-term contracts between distributors and biofuel producers was already provided for in ANP Resolution No. 921 of April 2023, which amended ANP Resolution No. 791/2019 to include this option. However, ANP Resolution No. 921/2023 did not include contracts signed between distributors and ECEs. This option was allowed through the publication of Law No. 14,592, of May 30, 2023, which triggered the approved review.
Click here to access the article.
ANP extends deadline for registering long-term contracts on CBIO Platform
On December 21, 2023, the ANP announced a deadline extension for the registration of Long-Term Contracts executed before the implementation of the registration module for these contracts on the CBIO Platform. The new deadline is January 31, 2024, which was established after an analysis of requests submitted by fuel distributors was carried out.
This topic is addressed in articles 6-A, 6-B and 13-A of ANP Resolution No. 791/2019, which was updated by ANP Resolution No. 921/2023. These resolutions aim to reduce the mandatory annual targets for fuel distributors through long-term contracts with biofuel producers certified under RenovaBio.
Click here to access the article.
Growing biofuels market in Brazil to attract more than BRL 200 billion by 2037
On December 04, 2023, the MME highlighted Brazil’s capacity to produce biofuels in a panel on the Fuel of the Future Program at COP 28. The production of sustainable aviation fuel (SAF), green diesel (also known as “HVO”), second-generation ethanol, in addition to existing hydrous ethanol and biodiesel, could attract an investment of over BRL 200 billion to Brazil by 2037.
The connection between RenovaBio and Rota 2030 alone is expected to result in BRL 105 billion. RenovaBio is one of the main global programs for reducing greenhouse gas emissions in the mobility sector, with a system of CBIOs to provide compensation to biofuel producers. An investment of over BRL 15 billion is expected from combined investments in SAF and HVO, and a further BRL 1 billion in synthetic fuels.
Click here to access the article.
MME announces positive impact of RenovaBio improvements in 2023
On December 21, 2023, the MME announced the positive impact of the improvements implemented under RenovaBio. The goal for 2023 was to avoid the emission of 37 million tons of CO2. The program currently includes 324 biofuel producers registered and qualified to issue CBIOs. These credits can be traded on the Stock Exchange and, in 2023, were priced at an average of BRL 114.05. During 2023, CBIOs generated a turnover of more than BRL 4.19 billion.
Throughout 2023, RenovaBio’s target strategy was refined by means of a RIA. The RIA aimed to establish the best strategy for proposing decarbonization targets for the coming years, especially for the period from 2024 to 2033.
For 2024, the RenovaBio Committee (“CRBio”) established a CBIO target of 38.78. This target represents more than 38 million tons of CO2 equivalent from the use of biofuels in the transport sector.
The new mandatory decarbonization targets reaffirm Brazil’s commitment to reducing greenhouse gas emissions. These targets are aimed at reducing the carbon intensity of the transportation matrix.
Click here to access the article.
OPPORTUNITIES
| TYPE | DESCRIPTION | CONTRIBUTION TERM | CODE / NOTES |
|
Call for Contributions (ANEEL) |
|||
| Call for Contributions No. 013/2023 | Obtain contributions for regulatory improvement relating to the assessment of basic projects and pre-operational studies of subsections 7.3 – Responsibilities, 7.3 – Procedural, 7.4 – Responsibilities, 7.4 – Operational, 7.13 – Procedural, and 7.15 – Procedural Network Procedures. | February 01, 2024 | |
| Call for Contributions No. 018/2023 | Obtain contributions to assess the need for any specific regulatory commands to enforce the provisions of Article 28 of Law No. 14,300/2022, and to mitigate the occurrence of energy trading mechanisms in the Electrical Energy Compensation System (“SCEE”), through the use of surplus or energy credits. | January 31, 2024 | |
| Public Consultations (ANEEL) | |||
| CP No. 043/2023 | Obtain contributions to improve the standardization of the identification number of consumer units and other facilities of electric energy users, and other provisions. | January 31, 2024 | |
| CP No. 044/2023 | Obtain contributions to assess the alternative product proposal, in an experimental regulatory environment, for the provision of ancillary services of reactive support for voltage control. | January 22, 2024 | |
|
Petrobras Contracting |
EPC Deep Drainage of Plateau 19C and Gaslub ODB Interconnections |
January 19, 2023 12:00 PM |
7004185364 |
|
Petrobras Contracting |
Chartering of up to 21 PSV-type vessels |
January 17, 2024 17:00 PM |
7004234931 |
|
Petrobras Contracting |
Riserless marine well intervention unit for water depths of up to 1,500 meters. |
February 02, 2024 12:00 PM |
7004228267 |
|
Petrobras Contracting |
Up to two riser-based offshore well intervention units for water depths of up to 2,400 meters |
February 02, 2024 12:00 PM |
7004228268 |
|
Petrobras Contracting |
OSRV – Chartering up to 7 vessels |
January 18, 2024 17:00 PM |
7004235990 |
|
Petrobras Contracting |
Chartering and Operation Services of FPSO – Barracuda and Caratinga Revit |
March 18, 2024 12:00 PM |
7004050042 |
|
Petrobras Contracting |
FPSO for SEAP- I – Chartering and operation services |
February 19, 2024
12:00 PM |
7004032918 |
|
Petrobras Contracting |
FPSO for SEAP-II – Chartering and operation services |
February 19, 2024 12:00 PM |
7004032955 |
|
Petrobras Contracting |
Chartering of up to 4 LH-type vessels |
January 19, 2024 17:00 PM |
7004238824 |
|
Petrobras Contracting |
Chartering of up to 10 UT-type vessels |
January 22, 2024 17:00 PM |
7004239741 |
–
** Please note that the deadlines in the table above are constantly changing and correspond to the deadlines disclosed at the time of publication of this newsletter.
WHATS IS COMING NEXT
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Consulta e Audiência Públicas ANP nº 17/2023 Obter subsídios e informações adicionais sobre a proposta tarifária da empresa Nova Transportadora do Sudeste S.A. – NTS, para o Processo de Oferta e Contratação de Capacidade disponível de transporte de gás natural em gasodutos. Pretende-se também estipular a Receita Máxima Permitida da NTS, assim como as respectivas tarifas de referência aplicáveis ao serviço de transporte firme anual, em cumprimento ao disposto no caput do artigo 4º c/c o parágrafo único e caput do artigo 9º da Nova Lei do Gás (Lei 14.134/2021). Consulta Pública: 27/12/2023 a 09/02/2024 |
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Consulta e Audiência Públicas ANP nº 18/2023 Contribuições para a revisão da Resolução ANP nº 874, de 18 de abril de 2022, que estabelece os critérios para fixação do Preço de Referência do Petróleo, adotado no cálculo das participações governamentais. Consulta Pública: 27/12/2023 a 15/02/2024 Audiência Pública: 06/03/2024, de 14h até 17h30 |
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Consulta e Audiência Públicas ANP nº 19/2023 Proposta de revisão da RANP 791/2019, que dispõe sobre a individualização das metas compulsórias anuais de redução de emissões de gases geradores do efeito estufa para a comercialização de combustíveis, no âmbito do RenovaBio, para incluir hipótese de redução das metas a partir de contratos de longo prazo firmados entre distribuidores de combustíveis e empresas comercializadoras de etanol. Consulta Pública: 29/12/2023 a 14/02/2024 Audiência Pública: 06/03/2024, de 14h30 até 17h30 |
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March/2024 – Transmission Auction 001/2024 |
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July/2024 – Auction for Contracting Capacity Reserve |
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August/2024 – New Energy Auctions “A-4” and “A-6” |
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September/2024 – Transmission Auction 002/2024 |
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October/2024 – Auction for the Supply of Isolated Systems |
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November/2024 – Auction for Contracting Capacity Reserve |
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December/2024 – Existing Energy Auctions “A-1” and “A-2″ |
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July/2025 – Auction for Contracting Capacity Reserve |
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March/2025 – Transmission Auction 001/2025 |
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August/2025 – New Energy Auctions “A-4” and “A-6” |
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September/2025 – Transmission Auction 002/2025 |
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October/2025 – Auction for the Supply of Isolated Systems |
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November/2025 – Auction for Contracting Capacity Reserve |
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December/2025 – Existing Energy Auctions “A-1” and “A-2″ |
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Bianca Reis
João Raphael Oliveira Aranha
Laura Isabelle Guzzo
Lívia Sousa Borges Leal
Luis Eduardo Ribeiro
Oscar Seitti Hatakeyama
Roberta Coelho de Souza Batalha
Thais Araujo Rato Tarelho
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Oil and Gas Energy and Natural Resources
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