Petrobras

Petrobras rules out injecting funds or raising its stake in Braskem and says it expects a consensus with the petrochemical company creditors

Petrobras chief executive Magda Chambriard said on September 24 that there is no reason to talk about the state company injecting funds into Braskem and that nationalizing the petrochemical company is not within its scope. On the same day, a Petrobras director said the company believes there will be a consensus with Braskem creditors, as Braskem negotiates the restructuring of about US$ 11 billion in debt under an out-of-court reorganization. Creditors have been demanding a contribution from controlling shareholders Petrobras and IG4 as a condition for a deal.

6 sourcesSep 24, 2026

Petrobras signs an oil and gas cooperation memorandum with Mozambique state company ENH

Petrobras signed on September 22, with disclosure on the 23rd, a memorandum of understanding with Empresa Nacional de Hidrocarbonetos (ENH), Mozambique state company, for joint work in studies, evaluation, development and commercialization of oil and gas projects, plus exchange of data, technology and technical experience. The agreement is initially valid for two years, renewable, and does not specify research or production areas. Mozambique has large liquefied natural gas reserves explored by TotalEnergies, ExxonMobil, Eni and others, and the move expands Petrobras presence in Africa, where it already operates in Ivory Coast, Namibia, São Tomé and Príncipe and South Africa.

3 sourcesSep 23, 2026

Petrobras denies socio-environmental impact in the Foz do Amazonas after federal prosecutors seek suspension of the drilling license for block FZA-M-59

Petrobras said on September 21 that its studies found no direct socio-environmental impact on traditional communities and indigenous lands from drilling in the Foz do Amazonas, that the activity is exploratory and complies with environmental law. The response follows a federal prosecutors request to the courts for immediate suspension of the drilling license for block FZA-M-59, citing risks to fishing and to communities in 17 municipalities of Pará. Ibama had amended the Morpho well license in early September, authorizing new wells including Manga and Crotalus.

2 sourcesSep 21, 2026

Houthis strike an Aramco facility in Yanbu and targets in Riyadh; Saudi Arabia suspends shipments at the port

Yemen's Houthis said on September 19 they had attacked a Saudi Aramco facility in Yanbu, on the Red Sea, and targets in Riyadh with ballistic missiles, cruise missiles and drones; the capital's Civil Defense issued its first air alerts since the recent escalation and explosions were reported near the airport. Saudi Arabia suspended shipments at the port of Yanbu, the outlet of the East-West pipeline, which moves about 4 million barrels a day. Brent closed Friday at US$ 104.87.

3 sourcesSep 19, 2026

Oil falls for a third session, with Brent below US$ 103, on signs of Saudi supply recovering

Brent closed down 0.95% on September 17 at US$ 104.82 and was down a further 2.5% on the morning of September 18 at US$ 102.20, a third straight session of losses. Saudi Arabia began offering more cargoes to Asian refiners through ship to ship transfers in Oman and seeks to restore half the capacity of the East-West pipeline, which eased fears of shortages after the Houthi attacks.

3 sourcesSep 17, 2026

Petrobras signs production sharing contracts for eight blocks in Ivory Coast with a 90% stake

Petrobras, through its subsidiary Petrobras Netherlands, signed on September 17 production sharing contracts for eight deepwater exploration blocks in Ivory Coast, with a 90% stake and operatorship; state company Petroci holds 10%. The area is part of the African equatorial margin, analogous to the Brazilian one, where the Baleine and Calao fields were discovered.

5 sourcesSep 17, 2026

Petrobras raises diesel by R$ 1 a litre to distributors and a new 30 day subsidy cancels the increase

Petrobras will raise the average price of diesel sold to distributors by R$ 1 a litre from September 17, but joined the new federal subsidy of R$ 1 a litre, valid for 30 days, which fully offsets the increase. The selling price to distributors is unchanged and the state company receives the subsidy. Update: on September 18 the board formally approved adhesion to the MP 1,391 subsidy, and the company said it received R$ 448 million from the gasoline subsidy, with R$ 9.9 billion accumulated under the programs.

5 sourcesSep 17, 2026

Petrobras rises more than 3% with Brent at US$ 108 and output of 2.92 million barrels a day in August

Petrobras shares rose on September 15, PETR4 3.09% to R$ 50.43 and PETR3 3.63% to R$ 56.23, with November Brent up 2.9% to US$ 108.75 and WTI up 4.38% to US$ 105.83 after the Saudi pipeline shutdown and the suspension of loadings at Yanbu; the company reported output of 2.92 million barrels a day in August, up 4% from July, with a 5% gain at Búzios and improvements at Itapu and Marlim, and Bradesco BBI projects more than 3 million barrels a day in 2028. Money Times and Seu Dinheiro calculate a record market value of R$ 692.35 billion, R$ 22 billion above the previous day; the Ibovespa closed up 0.54% at 186,502 points.

4 sourcesSep 15, 2026

Oil climbs more than 3% as a drone-hit Saudi pipeline stays shut and the Oman meeting on Hormuz is postponed

Oil opened the week up more than 3% on September 14, with Brent back above US$ 100 and quoted at US$ 107.80 in the Brasília morning, after drone attacks forced Saudi Arabia to shut its East-West pipeline, which carries about 4 million barrels a day to the Red Sea port of Yanbu, about 4% of global supply, with port stocks for five to seven days; the Oman meeting between Gulf countries and Iran on Hormuz routes, scheduled for September 14, was postponed, and a ship was hit in the strait. Iran intends to announce a temporary route through the strait under a deal with Oman, keeping control over which ships pass.

6 sourcesSep 14, 2026

Petrobras receives R$ 2.57 billion in diesel subsidy instalments and totals R$ 9.5 billion across the programmes

Petrobras said in a September 12 statement that it received R$ 2.57 billion from the Economic Subsidy Programme for diesel sales, R$ 643.8 million for sales from June 1 to 15 under Provisional Measure 1,358 and R$ 1.92 billion for sales from June 16 to 30 under Provisional Measure 1,363; with these instalments, the amount the company has received across the diesel, gasoline and LPG subsidy programmes reaches about R$ 9.5 billion, per InfoMoney and Reuters via Money Times.

4 sourcesSep 12, 2026

Oil falls 2.8% but ends the week up 9%, as the IEA cuts forecasts and Saudi supply drops to a three-decade low

November Brent fell 2.81% on September 11 to US$ 104.61 and WTI 2.3% to US$ 100.05, ending five and eight straight gains, after Iran signalled talks on safe Hormuz routes with Gulf countries in Oman on September 14; on the week both contracts rose between 8.65% and 9.37%. The IEA cut its 2026 forecasts to a 2.5 million barrel-a-day drop in consumption (from 1.6 million) and a 5.7 million drop in supply (from 4.3 million), to 100.7 million bpd, and said Saudi supply fell 2.3 million bpd in August to 6.0 million, the lowest in more than three decades, after Houthi and pro-Iran militia attacks on Jazan, Yanbu and Abqaiq.

8 sourcesSep 11, 2026

Petrobras scraps a gasoline price hike hours after announcing it, as the government widens the tax cut to R$ 0.63

On the night of September 9 Petrobras announced the end of a R$ 0.44-per-litre discount on gasoline A plus an extra R$ 0.19 increase, taking the price to distributors to R$ 3.24; in the early hours of September 10 it backtracked, limiting the increase to the end of the subsidy, at R$ 3.05, after the government widened the federal tax cut from R$ 0.44 to R$ 0.63 per litre. Itaú BBA and Bradesco BBI flagged a governance warning less than a month before the election.

5 sourcesSep 10, 2026

Government cuts R$ 0.63 of PIS/Cofins on gasoline, zeroes ethanol taxes and creates a R$ 1 diesel subsidy, at R$ 7bn a month

With Brent above US$ 100, Lula signed on September 9 a decree cutting PIS/Pasep and Cofins on gasoline by R$ 0.63 a litre and zeroing hydrous ethanol rates, plus provisional measure 1,389 opening R$ 6.6 billion in extraordinary credit to subsidise diesel by R$ 1 a litre; the cost is R$ 7 billion a month. Petrobras dropped its R$ 0.44 discount and raised gasoline by R$ 0.19 from September 10, with no effect at the pump.

11 sourcesSep 09, 2026

Brent settles at a six-week high and hovers near US$ 100 as Houthis strike Saudi Arabia and the Gulf escalates

Brent settled on September 7 near US$ 97, with a high of US$ 98.06, the highest since June, and moved toward US$ 100 on September 8 after Houthis hit facilities in four Saudi cities and the US-Iran escalation curtailed traffic in Hormuz.

13 sourcesSep 08, 2026

OPEC+ keeps October output at September levels and sets next meeting for October 4

Seven OPEC+ countries, led by Saudi Arabia and Russia, decided at a virtual meeting on September 6 to keep October output at the levels planned for September, per CNN Brasil, O Globo, Poder360 and Money Times. Saudi Arabia stays at 10.478 million barrels a day and Russia at 9.949 million, per CNN Brasil; the group reaffirmed the Declaration of Cooperation and set the next monthly meeting for October 4.

4 sourcesSep 06, 2026

Ibama authorizes Petrobras to drill three more wells in the Foz do Amazonas basin

Ibama authorized Petrobras to drill three more wells in block FZA-M-59 in the Foz do Amazonas basin on the Equatorial Margin, per CNN Brasil, Money Times and Poder360. Per CNN Brasil, the authorization came through an amendment of Operating License 1684/2025 and covers the contingent wells Manga, Crotalus and Morpho Extensão.

3 sourcesSep 03, 2026

Gecex extends the 12% crude export tax for 60 days, effective September 8

The Camex executive committee published in the September 3 Official Gazette a 60-day extension of the 12% export tax on crude oil, effective September 8, per Poder360 and CNN Brasil. The extension came after the TRF1 appeals court overturned on August 31 the injunction that had suspended the levy.

2 sourcesSep 03, 2026

Brazil oil output hits record 4.5 million barrels a day in July, ANP says

Brazil's oil production reached 4.498 million barrels a day in July, up 13.6% in a year and a new record, per consolidated ANP data released September 1 and reported by InfoMoney. Including natural gas, total output was 5.851 million barrels of oil equivalent a day; the pre-salt accounted for 82.4%, and Petrobras operated 87.27% of the total.

2 sourcesSep 02, 2026

Petrobras raises jet fuel price 13.9%, taking year-to-date increase to 53%

Petrobras raised the average price of jet fuel by 13.9% from September 1, attributing the rise to international quotations pressured by Middle East tensions, per InfoMoney, CNN Brasil, Valor and Agência Brasil. Per CNN, the increase is R$ 0.68 per liter and the cumulative rise since December reaches 53.3%.

4 sourcesSep 02, 2026

Appeals court lifts injunction and oil export tax is back in force

Appeals judge Roberto Carvalho Veloso of the TRF1 lifted the injunction suspending the 12% oil export tax for Abep members, granting the AGU appeal, per Gazeta do Povo and Poder360. The levy is back in force — five days after the first-instance injunction that opened the clash with Camex.

3 sourcesSep 02, 2026

US and Iran resume attacks after a month and oil climbs again

The US struck an Iranian facility on Larak Island in the Strait of Hormuz on Sunday (30th), and US bases in Jordan, Kuwait and Bahrain reported retaliatory Iranian attacks — the first direct exchange of hostilities in about a month, per CNN Brasil and the Reuters dispatch carried by InfoMoney and Money Times. Oil rose more than 2% on Monday, with Brent back around US$ 90.

5 sourcesSep 01, 2026

Venezuela confirms US$ 100 billion oil deal with the United States

Venezuela's president confirmed the oil agreement with the United States announced by Trump, per Agência Brasil and Gazeta do Povo. The arrangement calls for investments on the order of US$ 100 billion and covers 65 billion barrels across 17 fields, with a production target of 1.5 million barrels a day. Trump had announced the initiative on August 28.

9 sourcesAug 31, 2026

Court suspends Brazilian oil export tax; Camex extends the levy the same day

Brasília's 17th Federal Court granted an injunction on August 27 suspending the 12% oil export tax for Abep member companies. The same day, Gecex-Camex extended the levy for another 60 days starting September 8. The tax collected R$ 7.98 billion from January through July.

7 sourcesAug 28, 2026

Braskem files for out-of-court reorganization and B3 removes the stock from its indexes

Braskem filed for out-of-court reorganization on August 24, at São Paulo's 2nd Bankruptcy and Reorganization Court, on the day its creditor-protection injunction expired. Per NeoFeed, the debt to be restructured is US$10.9 billion. InfoMoney recorded that B3 will remove BRKM3 and BRKM5 from 18 index portfolios, including the Ibovespa, from August 25.

5 sourcesAug 24, 2026

FPSO Alexandre de Gusmão reaches peak output of 180,000 barrels per day at Mero

Petrobras reported that the FPSO Alexandre de Gusmão reached its designed peak output of 180,000 barrels of oil per day. The unit is the fifth definitive platform at the Mero field, in the Santos Basin pre-salt, one of the company's main production growth drivers.

2 sourcesAug 21, 2026