Oil

Trump rejects Iran seven-day plan to reopen the Strait of Hormuz and says the deal would be unacceptable

US President Donald Trump said on September 26 that he rejected Iran proposal to reopen shipping through the Strait of Hormuz within seven days. The plan, presented by Iranian Foreign Minister Abbas Araqchi in New York, included a seven-day ceasefire, an end to the US naval blockade, suspension of sanctions on Iranian oil and the release of frozen assets. Trump said Iran wants a deal but that one would be unacceptable, and said the US has total control of the strait.

4 sourcesSep 26, 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

Anac: average airfare rises 14.5% in August to R$ 776.87 per leg, with jet fuel 31.8% more expensive

Anac data released on September 22 show an average fare of R$ 776.87 per leg in August, up 14.5% in real terms from August 2025 and 10.4% from August 2024, according to CNN Brasil (Correio Braziliense cites 15.1% versus 2024). Jet fuel cost R$ 4.98 per liter, 31.8% above a year earlier. In August, 34.8% of seats were sold below R$ 500 and 9.2% above R$ 1,500.

2 sourcesSep 22, 2026

Federal tax revenue reaches R$ 235.5 billion in August, a record for the month, up 8.25% in real terms, with R$ 93.3 billion from oil and gas in the year

The Federal Revenue reported on September 22 that August tax revenue reached R$ 235.5 billion, a record for the month, up 8.25% in real terms from August 2025. From January to August the total reaches R$ 2.11 trillion, up 7.12% in real terms. Revenue from oil and gas extraction reached R$ 93.3 billion in the year, against R$ 16.3 billion in 2025, and withholding tax on capital income rose 33.21%, helped by the taxation of dividends. The Revenue cut its estimate of 2026 dividend tax collection from R$ 29 billion to R$ 10.5 billion.

6 sourcesSep 22, 2026

Iran offers to reopen the Strait of Hormuz within seven days if the US eases military pressure; Brent falls to US$ 99 and Trump speaks of productive talks

An Iranian official told Kyodo News on September 22 that Iran offered to reopen the Strait of Hormuz within seven days if the US takes initial steps to ease military pressure, and security chief Mohsen Rezaei told Al Jazeera that Tehran sent its conditions to mediators. Trump said at the UN that oil flow in the Gulf is higher than at any time since the war began and later said a US delegation met for more than three hours with Iranian representatives, in talks he called very productive. November Brent fell 1.09% to US$ 99.25, a fifth straight decline, and WTI dropped 2% to US$ 90.52.

3 sourcesSep 22, 2026

Halliburton and Eneva sign a memorandum to assess development opportunities in Venezuela

Halliburton announced on September 21 the signing of a memorandum of understanding with Eneva to identify and pursue development opportunities in Venezuela, expanding the relationship the companies already have in Brazil. According to Valor, the agreement is to assess business development in the country. According to Reuters, via InfoMoney, Halliburton also signed a memorandum with WESCA for oil and gas field evaluation and development planning, the agreements are non-binding and the company cites regulatory changes in Venezuela that may open room for foreign investment.

2 sourcesSep 21, 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

Ukraine launches its largest drone attack on Moscow, hits the capital's refinery and leaves deaths on the last day of the Russian election

Between September 19 and 20 Ukraine launched the largest drone attack ever recorded on the Moscow region. Mayor Sergei Sobyanin said 450 drones aimed at the capital were shot down, and Russia says it downed more than 1,600 since Saturday. The Moscow refinery, which processed 11.6 million tonnes of oil in 2024, was hit and caught fire; a residential building was damaged and 400 people were evacuated. Coverage reports two to three deaths in the region. The attack came on the last day of Russia's parliamentary election and despite the deal announced by Trump on not striking energy infrastructure.

4 sourcesSep 20, 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

Centcom says oil flow through Hormuz in the last two weeks is the highest in six months

Admiral Brad Cooper, head of US Central Command (Centcom), said on September 19 that the volume of crude oil, cargo and liquefied natural gas through the Strait of Hormuz in the last two weeks is the highest in six months. According to Centcom, more than 1 billion barrels and more than 2,000 commercial ships passed through the route in recent months under escort, and Iran exported no oil through the strait in the period because of US blockades.

2 sourcesSep 19, 2026

Trump signs Russia sanctions law authorizing tariffs of up to 100% on the largest buyers of Russian oil

President Donald Trump signed on September 18 the Russia sanctions law named after Senator Lindsey Graham, passed by the House on September 16 by 262 votes to 159 and by the Senate 86 to 11. The law imposes mandatory sanctions on Putin, senior officials, oligarchs, state companies and the shadow tanker fleet, and gives the government the power to apply tariffs of up to 100% on the five largest buyers of Russian oil and gas, including China and India, at the White House's discretion.

5 sourcesSep 18, 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

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

Brent settles above US$ 101 as the US sinks Iranian tankers and ships come under fresh attack in Hormuz

US forces hit Iranian tankers loaded with crude, ten per CENTCOM as cited by InfoMoney and five destroyed per Bloomberg Línea and Money Times, and fresh attacks on ships were recorded near Hormuz, at least three per UKMTO and ten per Iran; Brent topped US$ 101 for the first time since July, in a fourth straight day of gains, and the Ibovespa fell 0.93% on risk aversion. September 10 update: November Brent rose 6.34% to US$ 107.63, the highest since May, as the Houthis seized the port of Mocha; Wall Street fell and the 10-year Treasury hit 4.954%, the highest since 2023.

9 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

Iran announces a no-go zone in the Gulf after the US hits three tankers, and Hormuz traffic falls to its lowest since May

Mohsen Rezaei, of Iran's Supreme National Security Council, said on September 6 the country will declare in the coming days a no-go zone in the Gulf, starting where the US blockade begins, with sanctions on ships crossing it, per CNN Brasil and Exame. The announcement came a day after US Central Command reported strikes on three Iranian tankers, one near Kharg Island, per CNN Brasil. Traffic through the Strait of Hormuz fell to about 10 ships a day in the ten days through September 7, the lowest since May, per Kpler data cited by CNN Brasil, and Brent rose 0.8% to above US$ 97.

6 sourcesSep 07, 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

Pentagon buys 35% of Betancourt's NABEP and secures preferential US access to Venezuelan oil

The Pentagon, through its Office of Strategic Capital, acquired 35% of North American Blue Energy Partners, a company tied to Venezuelan billionaire Alejandro Betancourt with stakes in 17 Venezuelan oil fields, per InfoMoney; g1 records the Venezuelan oil deal on September 5. Per InfoMoney, the State Department may buy 20% of NABEP's oil at cost, with preferential access to the rest.

2 sourcesSep 05, 2026

ANP approves 24 blocks in the Potiguar Basin, including the area where a farmer found oil in Ceará

ANP's board approved on September 4 the nomination of 24 onshore exploratory blocks in the Potiguar Basin for future Permanent Offer cycles, per the agency itself, Estadão and InfoMoney. Among them is block POT-T-551, covering Tabuleiro do Norte in Ceará, where a farmer drilling a water well found a fluid confirmed as oil by ANP's research center. The blocks enter offer only after the 6th cycle, set for October 7, and after environmental analysis and a joint MME and MMA opinion.

3 sourcesSep 04, 2026

Brava Energia produces 81,600 boe a day in August, down 1.2% on Papa-Terra shutdown

Brava Energia recorded production of 81,642 barrels of oil equivalent a day in August, down 1.2% from 82,593 boe/d in July, with offshore output slipping from 52,991 to 51,917 boe/d and Papa-Terra falling from 10,180 to 7,927 barrels a day after a scheduled shutdown completed on August 7, per the company's CVM filing and Money Times.

2 sourcesSep 03, 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