Petróleo Brasileiro SA is reassessing the future of its Bahia Terra onshore fields and may revive plans to divest the asset, Chief Executive Officer Magda Chambriard said on Saturday. The cluster, located in Brazil’s northeastern state of Bahia, produces about 12,400 barrels of oil a day but is proving costly compared with the company’s deep-water pre-salt wells, some of which yield up to 80,000 barrels a day each.

Chambriard noted that the site is commercially attractive only with oil at around US$100 a barrel; benchmark crude is currently near US$60. The low price environment has prompted management to study options that include a sale, though no final decision has been made.

Bahia Terra had previously been offered to a consortium led by Petrorecôncavo and Eneva, but the transaction was halted in 2023 under the prior administration. A renewed divestment could realign Petrobras’s portfolio toward higher-margin offshore projects while marking a policy shift from the company’s recent focus on domestic asset retention.

Brazilian President Luiz Inácio Lula da Silva has indicated his intention to run for re-election in the 2026 presidential election, suggesting he could become the first president in Brazil's history to be elected four times. Speaking at various events, including a Petrobras ceremony and public appearances in Duque de Caxias, Lula expressed confidence that "if everything goes as I am thinking," he will secure a fourth term. He also called for conciliation with the National Congress, emphasizing that disagreements, such as those over the financial transaction tax (IOF), are part of healthy dialogue between government branches. Lula dismissed notions that his government is over, urging preparation for his potential re-election bid. While he has not made a formal announcement, his repeated statements signal a clear intention to seek another term.

Brazilian President Luiz Inácio Lula da Silva said he intends to seek re-election in 2026, a move that would make him the first leader in the country’s history to win the presidency four times. “If everything goes as I’m thinking, this country will have, for the first time, a president elected four times,” the 79-year-old told an audience at a Petrobras event in Duque de Caxias, Rio de Janeiro.

Lula used the same speech to rebut speculation that his administration is losing momentum, stressing that he still has “a year and a half of mandate” and that Congress has approved 99 percent of his legislative agenda. He denied any “war” between the branches and called disagreements with lawmakers “good” because they force negotiation.

Read more

President Luiz Inácio Lula da Silva used a ceremony at Petrobras’s Duque de Caxias refinery on Friday to unveil a R$33 billion (US$6.1 billion) investment programme aimed at expanding refining and petrochemical capacity in the state of Rio de Janeiro and accelerating the company’s shift toward cleaner fuels.

The bulk of the spending—about R$26 billion—will integrate the Refinaria Duque de Caxias with the new Complexo de Energias Boaventura in Itaboraí, a project expected to create roughly 38,000 direct and indirect jobs. Petrobras says the upgrade will lift daily output by 76,000 barrels of low-sulphur diesel, 20,000 barrels of aviation kerosene and 12,000 barrels of lubricants, while adding facilities capable of producing 19,000 barrels of renewable fuels. Petrochemical group Braskem, in which Petrobras holds a 36% stake, plans to invest a further R$4 billion to expand plastics capacity linked to the complex.

Read more

Petrobras has signed contracts worth R$ 4.9 billion to resume construction work on the Abreu e Lima Refinery in Pernambuco, including the development of the second processing unit, known as Trem 2. This project had previously been a focus of the Lava-Jato corruption investigation. Additionally, Petrobras announced a broader investment plan totaling R$ 33 billion for refining and petrochemical projects in the state of Rio de Janeiro, with the investments expected to generate approximately 38,000 direct and indirect jobs. The announcement was made in the presence of Brazilian President Luiz Inácio Lula da Silva and Energy Minister Adolfo Silveira.

The investments aim to expand refining capacity and improve infrastructure at the REDUQ refinery complex in Duque de Caxias, Rio de Janeiro. The government emphasized the importance of these investments for regional economic growth and energy security, while also highlighting Petrobras's commitment to environmental responsibility. The projects are part of Petrobras's strategy to revitalize Brazil's refining sector through significant capital expenditure through 2029.

Petrobras announced a 2.9% increase in the price of aviation kerosene effective July 1, 2025. This adjustment reflects the volatility of international oil prices, with Brent crude reaching around $77 per barrel in mid-June. The aviation kerosene fuels jet and turboprop aircraft. In addition to this, distributors have raised gasoline prices, with values reaching up to R$ 6.89, a rise partially attributed to increased anhydrous ethanol costs.

Magda Chambriard, a Petrobras executive, stated that the company is meeting the expectations of President Lula and society by balancing development and profitability. Petrobras is also focusing on expanding refining investments to support Lula’s economic agenda. Furthermore, the company plans to increase the flow of pre-salt gas to reduce industrial prices and aims to attract gig economy workers to its outsourced workforce. Separately, a construction company announced a job drive in Rio de Janeiro offering 50 employment opportunities.

On June 26, 2025, Brazilian President Luiz Inácio Lula da Silva announced a housing program aimed at providing subsidized homes for approximately 900 families residing in the Favela do Moinho, located in the center of São Paulo. The initiative is a collaborative effort between the federal government and the São Paulo state government to secure housing solutions for the residents of this urban occupation. During his visit to the Favela do Moinho, Lula formalized the agreement and emphasized the federal government's commitment to supporting the community. The program guarantees 100% subsidized housing, marking a significant step toward improving living conditions in one of São Paulo's largest central favelas.

During the Energy Summit held on June 25, 2025, Itaipu's leadership emphasized the company's commitment to innovation and Brazil's role in the global energy transition. Iggor Rocha, Itaipu's administrative director, outlined a shift from traditional public procurement methods toward contracting innovative energy solutions that do not yet exist, aiming to foster startups and regional development. Enio Verri, Itaipu's director-general, highlighted Brazil's status as a global model in renewable energy, producing 50% of its energy from renewables compared to the 14% global average. He also noted Itaipu's recognition in the Guinness Book for the highest production of clean energy worldwide and its pioneering efforts in sustainable aviation fuel (SAF) production, combining biogas and green hydrogen.

Concurrently, Brazilian President Luiz Inácio Lula da Silva participated in the "Combustível do Futuro Chegou" ceremony, announcing new biofuel blends E30 (30% ethanol) and B15 (15% biodiesel) to reduce dependence on imported gasoline and diesel, strengthen agribusiness, and promote food sovereignty. Lula stressed that biofuels do not compete with food production and defended ongoing petroleum research in Brazil's Margem Equatorial region, underscoring the country's energy sovereignty ambitions. The event also featured remarks from government officials on increasing agricultural productivity without deforestation and highlighted the integration of tourism and energy policies for sustainable development.

Brazilian state-controlled oil company Petrobras is making considerable efforts to pay an extraordinary dividend to support the country's budget needs. CEO Magda Chambriard has expressed optimism about the potential distribution of these extra dividends within 2025. In line with its shareholder remuneration, Petrobras paid the second installment of dividends related to December 2024 on June 20, amounting to 9.1 billion Brazilian reais. This move reflects the company’s commitment to returning value to shareholders while addressing fiscal requirements. Meanwhile, Indonesia's state energy firm Pertamina is reportedly seeking additional term gasoline supplies, according to recent documents.

Brazil's National Agency of Petroleum, Natural Gas and Biofuels (ANP) conducted a contentious auction on June 17, 2025, offering 47 oil and gas exploration blocks in the Amazon River mouth region, an environmentally sensitive area considered a new frontier for fossil fuel exploitation. Nineteen of these blocks, covering 283,000 square kilometers in the states of Amapá and Pará, were awarded to major energy companies including Petrobras, ExxonMobil, Chevron, and China's CNPC. The auction raised approximately R$ 844 million (around $153 million) in signature bonuses, contributing to a total government revenue of nearly R$ 1 billion from the event. Despite environmental protests, the government views this as a strategic move to boost energy exploration.

Petrobras emerged as a leading participant, acquiring ten blocks in the Foz do Amazonas basin and three in the Pelotas basin. Concurrently, Petrobras signed contracts worth R$ 4.9 billion with Consag Engenharia to resume construction of the Abreu e Lima Refinery in Pernambuco, a project previously affected by the Lava Jato corruption investigation. Additionally, Petrobras announced plans to invest R$ 33 billion in refining and petrochemical projects in Rio de Janeiro through 2029, aiming to generate 38,000 jobs. The company also raised aviation kerosene prices by approximately 2.9% starting July 1, 2025, citing international oil price volatility. These developments reflect Petrobras's expanding role in Brazil's energy sector amid government efforts to balance economic growth and environmental concerns.

Brazil's National Agency of Petroleum, Natural Gas and Biofuels (ANP) conducted an auction on June 17, 2025, offering 47 oil and gas exploration blocks in the Amazon River mouth region, a sensitive environmental area considered a new frontier for fossil fuel extraction. Of these, 19 blocks located in the Foz do Amazonas basin, covering 283,000 square kilometers across the states of Amapá and Pará, were awarded to major oil companies including Petrobras, ExxonMobil, Chevron, and China's CNPC. The auction raised approximately R$ 989 million (around $153 million) in signature bonuses, with R$ 844 million attributed to the blocks in the Foz do Amazonas. Petrobras secured the largest share, acquiring ten blocks in the Foz do Amazonas and three in the Pelotas basin.

The event attracted nine national and international companies, with a total of 34 blocks sold out of 172 offered nationwide. Despite legal challenges and environmental protests domestically and internationally, the Brazilian government proceeded with the auction ahead of hosting the COP30 climate summit. The auction is seen as a strategic move betting on regulatory approval for offshore drilling in the Equatorial Margin, also referred to as Brazil's new pre-salt region. The government described the auction results as a record, with a 534% premium over the minimum bid values.

Petrobras signed R$4.9 billion (about US$892 million) in contracts with Consag Engenharia to restart construction of the second processing train at the Abreu e Lima Refinery in Pernambuco. The work, halted since 2015 amid the Lava-Jato investigation, is expected to double the plant’s capacity to roughly 260,000 barrels a day. The project is part of the state-controlled company’s five-year plan to invest US$17 billion in refining and boost domestic fuel supply.

Read more

Petrobras has signed contracts worth 4.9 billion Brazilian reais to resume construction work on the Abreu e Lima Refinery in Pernambuco. The agreements include a contract with Consag Engenharia focused on the construction of the refinery's second processing unit, known as Trem 2. This move marks a significant step in advancing the refinery's development after previous delays. Meanwhile, gasoline prices at fuel stations have decreased by only 0.04 reais following a recent price adjustment announced by Petrobras. Additionally, a government minister has advocated for cheaper gas prices to support the country's industrial reindustrialization efforts.

The Federal Public Ministry (MPF) has requested the suspension of the auction for 47 oil and gas blocks in the Foz do Amazonas region. The MPF has petitioned the judiciary to halt the upcoming stages of the auction, emphasizing the need to ensure compliance with socio-environmental legislation before the National Petroleum Agency (ANP) confirms the auction. This legal move reflects concerns over environmental and regulatory safeguards related to the exploitation of these blocks. Meanwhile, the Brazilian Development Bank (BNDES) has requested the Federal Court of Accounts (TCU) to maintain the execution of the Fundo Rio Doce, a separate matter unrelated to the oil auction.

Brazil is experiencing a surge in oil production with new oilfields coming online ahead of schedule in 2025. This increase is expected to add approximately 450,000 barrels per day (bpd) of extra output in 2025 and 2026, representing about one-quarter of the incremental global oil demand during this period. The timing of Brazil's oil boom poses challenges for the Saudi-led OPEC+ cartel, which has long sought to engage Brazil but has not succeeded in integrating the country into its production agreements. Meanwhile, concerns have been raised about the compatibility of Brazil's expanding oil projects with climate goals.

Justice Kassio Nunes Marques annulled the conviction of José Sergio Gabrielli, former president of Petrobras, in the Pasadena refinery case. The decision was based on the absence of evidence proving Gabrielli's involvement in setting an exorbitant price for the refinery acquisition during his tenure. The case had been a prominent issue linked to the Lava Jato investigation. The annulment was reported by multiple sources, including CNN Brasil and CartaCapital, highlighting the legal reversal regarding the Petrobras scandal.

The Brazilian Federal Police (PF) has arrested hackers responsible for attacks on judiciary websites and public companies, conducting operations across three states. Additionally, the Federal Public Ministry (MPF) secured the detention of two Chinese nationals suspected of involvement in international human trafficking. These arrests highlight ongoing law enforcement efforts targeting cybercrime and transnational criminal activities in Brazil. Authorities also suspect that Chinese triads are linked to increasing incidents of 'floating shabu' in Philippine waters, indicating broader regional criminal networks.

Petrobras has expressed its intention to increase its influence in the management of Braskem without pursuing full re-nationalization of the company, according to statements by Petrobras President Magda. The state-controlled oil company seeks a greater voice in Braskem’s leadership but does not aim to take back full ownership. Meanwhile, Petrobras and Sebrae have entered into a partnership to integrate small businesses into Petrobras’ supplier chain. Separately, there are reports highlighting Nelson Tanure's active involvement regarding Braskem. Additionally, Petrobras President Magda affirmed the company's commitment to oil production, stating, "We are not ashamed to produce oil."

Petrobras and Sebrae have established a partnership aimed at increasing the participation of small businesses in Petrobras's supply chain. This collaboration seeks to integrate micro and small enterprises as suppliers to the state-controlled company. Concurrently, a new credit line backed by the BNDES-Sebrae Guarantee Fund has been introduced, offering micro-entrepreneurs and small businesses access to financing with guarantees and repayment terms of up to 10 years. This initiative is designed to provide secure financial support to businesses that drive the economy. Additionally, Petrobras has stated that it does not intend to nationalize Braskem but aims to have a greater role in its management.

The Brazilian National Institute for Biodiversity Conservation (ICMBio) and Petrobras have reached an agreement to allocate R$15 million to improve accessibility at the Corcovado site in Rio de Janeiro, home to the Christ the Redeemer statue. This investment will fund the installation of new escalators and an inclined plane to enhance visitor access. The funding and upgrades come in the wake of a tourist's death at the site, prompting increased attention to safety and accessibility. Additionally, the Rio de Janeiro Transportation Agency (Agetransp) approved relocating the elevators at the Pavuna Metro terminal from the external area to inside the station to improve infrastructure.

Petróleo Brasileiro SA is reassessing the future of its Bahia Terra onshore fields and may revive plans to divest the asset, Chief Executive Officer Magda Chambriard said on Saturday. The cluster, located in Brazil’s northeastern state of Bahia, produces about 12,400 barrels of oil a day but is proving costly compared with the company’s deep-water pre-salt wells, some of which yield up to 80,000 barrels a day each.

Chambriard noted that the site is commercially attractive only with oil at around US$100 a barrel; benchmark crude is currently near US$60. The low price environment has prompted management to study options that include a sale, though no final decision has been made.

Bahia Terra had previously been offered to a consortium led by Petrorecôncavo and Eneva, but the transaction was halted in 2023 under the prior administration. A renewed divestment could realign Petrobras’s portfolio toward higher-margin offshore projects while marking a policy shift from the company’s recent focus on domestic asset retention.

Brazilian President Luiz Inácio Lula da Silva has indicated his intention to run for re-election in the 2026 presidential election, suggesting he could become the first president in Brazil's history to be elected four times. Speaking at various events, including a Petrobras ceremony and public appearances in Duque de Caxias, Lula expressed confidence that "if everything goes as I am thinking," he will secure a fourth term. He also called for conciliation with the National Congress, emphasizing that disagreements, such as those over the financial transaction tax (IOF), are part of healthy dialogue between government branches. Lula dismissed notions that his government is over, urging preparation for his potential re-election bid. While he has not made a formal announcement, his repeated statements signal a clear intention to seek another term.

Brazilian President Luiz Inácio Lula da Silva said he intends to seek re-election in 2026, a move that would make him the first leader in the country’s history to win the presidency four times. “If everything goes as I’m thinking, this country will have, for the first time, a president elected four times,” the 79-year-old told an audience at a Petrobras event in Duque de Caxias, Rio de Janeiro.

Lula used the same speech to rebut speculation that his administration is losing momentum, stressing that he still has “a year and a half of mandate” and that Congress has approved 99 percent of his legislative agenda. He denied any “war” between the branches and called disagreements with lawmakers “good” because they force negotiation.

Read more

President Luiz Inácio Lula da Silva used a ceremony at Petrobras’s Duque de Caxias refinery on Friday to unveil a R$33 billion (US$6.1 billion) investment programme aimed at expanding refining and petrochemical capacity in the state of Rio de Janeiro and accelerating the company’s shift toward cleaner fuels.

The bulk of the spending—about R$26 billion—will integrate the Refinaria Duque de Caxias with the new Complexo de Energias Boaventura in Itaboraí, a project expected to create roughly 38,000 direct and indirect jobs. Petrobras says the upgrade will lift daily output by 76,000 barrels of low-sulphur diesel, 20,000 barrels of aviation kerosene and 12,000 barrels of lubricants, while adding facilities capable of producing 19,000 barrels of renewable fuels. Petrochemical group Braskem, in which Petrobras holds a 36% stake, plans to invest a further R$4 billion to expand plastics capacity linked to the complex.

Read more

Petrobras has signed contracts worth R$ 4.9 billion to resume construction work on the Abreu e Lima Refinery in Pernambuco, including the development of the second processing unit, known as Trem 2. This project had previously been a focus of the Lava-Jato corruption investigation. Additionally, Petrobras announced a broader investment plan totaling R$ 33 billion for refining and petrochemical projects in the state of Rio de Janeiro, with the investments expected to generate approximately 38,000 direct and indirect jobs. The announcement was made in the presence of Brazilian President Luiz Inácio Lula da Silva and Energy Minister Adolfo Silveira.

The investments aim to expand refining capacity and improve infrastructure at the REDUQ refinery complex in Duque de Caxias, Rio de Janeiro. The government emphasized the importance of these investments for regional economic growth and energy security, while also highlighting Petrobras's commitment to environmental responsibility. The projects are part of Petrobras's strategy to revitalize Brazil's refining sector through significant capital expenditure through 2029.

Petrobras announced a 2.9% increase in the price of aviation kerosene effective July 1, 2025. This adjustment reflects the volatility of international oil prices, with Brent crude reaching around $77 per barrel in mid-June. The aviation kerosene fuels jet and turboprop aircraft. In addition to this, distributors have raised gasoline prices, with values reaching up to R$ 6.89, a rise partially attributed to increased anhydrous ethanol costs.

Magda Chambriard, a Petrobras executive, stated that the company is meeting the expectations of President Lula and society by balancing development and profitability. Petrobras is also focusing on expanding refining investments to support Lula’s economic agenda. Furthermore, the company plans to increase the flow of pre-salt gas to reduce industrial prices and aims to attract gig economy workers to its outsourced workforce. Separately, a construction company announced a job drive in Rio de Janeiro offering 50 employment opportunities.

On June 26, 2025, Brazilian President Luiz Inácio Lula da Silva announced a housing program aimed at providing subsidized homes for approximately 900 families residing in the Favela do Moinho, located in the center of São Paulo. The initiative is a collaborative effort between the federal government and the São Paulo state government to secure housing solutions for the residents of this urban occupation. During his visit to the Favela do Moinho, Lula formalized the agreement and emphasized the federal government's commitment to supporting the community. The program guarantees 100% subsidized housing, marking a significant step toward improving living conditions in one of São Paulo's largest central favelas.

During the Energy Summit held on June 25, 2025, Itaipu's leadership emphasized the company's commitment to innovation and Brazil's role in the global energy transition. Iggor Rocha, Itaipu's administrative director, outlined a shift from traditional public procurement methods toward contracting innovative energy solutions that do not yet exist, aiming to foster startups and regional development. Enio Verri, Itaipu's director-general, highlighted Brazil's status as a global model in renewable energy, producing 50% of its energy from renewables compared to the 14% global average. He also noted Itaipu's recognition in the Guinness Book for the highest production of clean energy worldwide and its pioneering efforts in sustainable aviation fuel (SAF) production, combining biogas and green hydrogen.

Concurrently, Brazilian President Luiz Inácio Lula da Silva participated in the "Combustível do Futuro Chegou" ceremony, announcing new biofuel blends E30 (30% ethanol) and B15 (15% biodiesel) to reduce dependence on imported gasoline and diesel, strengthen agribusiness, and promote food sovereignty. Lula stressed that biofuels do not compete with food production and defended ongoing petroleum research in Brazil's Margem Equatorial region, underscoring the country's energy sovereignty ambitions. The event also featured remarks from government officials on increasing agricultural productivity without deforestation and highlighted the integration of tourism and energy policies for sustainable development.

Brazilian state-controlled oil company Petrobras is making considerable efforts to pay an extraordinary dividend to support the country's budget needs. CEO Magda Chambriard has expressed optimism about the potential distribution of these extra dividends within 2025. In line with its shareholder remuneration, Petrobras paid the second installment of dividends related to December 2024 on June 20, amounting to 9.1 billion Brazilian reais. This move reflects the company’s commitment to returning value to shareholders while addressing fiscal requirements. Meanwhile, Indonesia's state energy firm Pertamina is reportedly seeking additional term gasoline supplies, according to recent documents.

Brazil's National Agency of Petroleum, Natural Gas and Biofuels (ANP) conducted a contentious auction on June 17, 2025, offering 47 oil and gas exploration blocks in the Amazon River mouth region, an environmentally sensitive area considered a new frontier for fossil fuel exploitation. Nineteen of these blocks, covering 283,000 square kilometers in the states of Amapá and Pará, were awarded to major energy companies including Petrobras, ExxonMobil, Chevron, and China's CNPC. The auction raised approximately R$ 844 million (around $153 million) in signature bonuses, contributing to a total government revenue of nearly R$ 1 billion from the event. Despite environmental protests, the government views this as a strategic move to boost energy exploration.

Petrobras emerged as a leading participant, acquiring ten blocks in the Foz do Amazonas basin and three in the Pelotas basin. Concurrently, Petrobras signed contracts worth R$ 4.9 billion with Consag Engenharia to resume construction of the Abreu e Lima Refinery in Pernambuco, a project previously affected by the Lava Jato corruption investigation. Additionally, Petrobras announced plans to invest R$ 33 billion in refining and petrochemical projects in Rio de Janeiro through 2029, aiming to generate 38,000 jobs. The company also raised aviation kerosene prices by approximately 2.9% starting July 1, 2025, citing international oil price volatility. These developments reflect Petrobras's expanding role in Brazil's energy sector amid government efforts to balance economic growth and environmental concerns.

Brazil's National Agency of Petroleum, Natural Gas and Biofuels (ANP) conducted an auction on June 17, 2025, offering 47 oil and gas exploration blocks in the Amazon River mouth region, a sensitive environmental area considered a new frontier for fossil fuel extraction. Of these, 19 blocks located in the Foz do Amazonas basin, covering 283,000 square kilometers across the states of Amapá and Pará, were awarded to major oil companies including Petrobras, ExxonMobil, Chevron, and China's CNPC. The auction raised approximately R$ 989 million (around $153 million) in signature bonuses, with R$ 844 million attributed to the blocks in the Foz do Amazonas. Petrobras secured the largest share, acquiring ten blocks in the Foz do Amazonas and three in the Pelotas basin.

The event attracted nine national and international companies, with a total of 34 blocks sold out of 172 offered nationwide. Despite legal challenges and environmental protests domestically and internationally, the Brazilian government proceeded with the auction ahead of hosting the COP30 climate summit. The auction is seen as a strategic move betting on regulatory approval for offshore drilling in the Equatorial Margin, also referred to as Brazil's new pre-salt region. The government described the auction results as a record, with a 534% premium over the minimum bid values.

Petrobras signed R$4.9 billion (about US$892 million) in contracts with Consag Engenharia to restart construction of the second processing train at the Abreu e Lima Refinery in Pernambuco. The work, halted since 2015 amid the Lava-Jato investigation, is expected to double the plant’s capacity to roughly 260,000 barrels a day. The project is part of the state-controlled company’s five-year plan to invest US$17 billion in refining and boost domestic fuel supply.

Read more

Petrobras has signed contracts worth 4.9 billion Brazilian reais to resume construction work on the Abreu e Lima Refinery in Pernambuco. The agreements include a contract with Consag Engenharia focused on the construction of the refinery's second processing unit, known as Trem 2. This move marks a significant step in advancing the refinery's development after previous delays. Meanwhile, gasoline prices at fuel stations have decreased by only 0.04 reais following a recent price adjustment announced by Petrobras. Additionally, a government minister has advocated for cheaper gas prices to support the country's industrial reindustrialization efforts.

The Federal Public Ministry (MPF) has requested the suspension of the auction for 47 oil and gas blocks in the Foz do Amazonas region. The MPF has petitioned the judiciary to halt the upcoming stages of the auction, emphasizing the need to ensure compliance with socio-environmental legislation before the National Petroleum Agency (ANP) confirms the auction. This legal move reflects concerns over environmental and regulatory safeguards related to the exploitation of these blocks. Meanwhile, the Brazilian Development Bank (BNDES) has requested the Federal Court of Accounts (TCU) to maintain the execution of the Fundo Rio Doce, a separate matter unrelated to the oil auction.

Brazil is experiencing a surge in oil production with new oilfields coming online ahead of schedule in 2025. This increase is expected to add approximately 450,000 barrels per day (bpd) of extra output in 2025 and 2026, representing about one-quarter of the incremental global oil demand during this period. The timing of Brazil's oil boom poses challenges for the Saudi-led OPEC+ cartel, which has long sought to engage Brazil but has not succeeded in integrating the country into its production agreements. Meanwhile, concerns have been raised about the compatibility of Brazil's expanding oil projects with climate goals.

Justice Kassio Nunes Marques annulled the conviction of José Sergio Gabrielli, former president of Petrobras, in the Pasadena refinery case. The decision was based on the absence of evidence proving Gabrielli's involvement in setting an exorbitant price for the refinery acquisition during his tenure. The case had been a prominent issue linked to the Lava Jato investigation. The annulment was reported by multiple sources, including CNN Brasil and CartaCapital, highlighting the legal reversal regarding the Petrobras scandal.

The Brazilian Federal Police (PF) has arrested hackers responsible for attacks on judiciary websites and public companies, conducting operations across three states. Additionally, the Federal Public Ministry (MPF) secured the detention of two Chinese nationals suspected of involvement in international human trafficking. These arrests highlight ongoing law enforcement efforts targeting cybercrime and transnational criminal activities in Brazil. Authorities also suspect that Chinese triads are linked to increasing incidents of 'floating shabu' in Philippine waters, indicating broader regional criminal networks.

Petrobras has expressed its intention to increase its influence in the management of Braskem without pursuing full re-nationalization of the company, according to statements by Petrobras President Magda. The state-controlled oil company seeks a greater voice in Braskem’s leadership but does not aim to take back full ownership. Meanwhile, Petrobras and Sebrae have entered into a partnership to integrate small businesses into Petrobras’ supplier chain. Separately, there are reports highlighting Nelson Tanure's active involvement regarding Braskem. Additionally, Petrobras President Magda affirmed the company's commitment to oil production, stating, "We are not ashamed to produce oil."

Petrobras and Sebrae have established a partnership aimed at increasing the participation of small businesses in Petrobras's supply chain. This collaboration seeks to integrate micro and small enterprises as suppliers to the state-controlled company. Concurrently, a new credit line backed by the BNDES-Sebrae Guarantee Fund has been introduced, offering micro-entrepreneurs and small businesses access to financing with guarantees and repayment terms of up to 10 years. This initiative is designed to provide secure financial support to businesses that drive the economy. Additionally, Petrobras has stated that it does not intend to nationalize Braskem but aims to have a greater role in its management.

The Brazilian National Institute for Biodiversity Conservation (ICMBio) and Petrobras have reached an agreement to allocate R$15 million to improve accessibility at the Corcovado site in Rio de Janeiro, home to the Christ the Redeemer statue. This investment will fund the installation of new escalators and an inclined plane to enhance visitor access. The funding and upgrades come in the wake of a tourist's death at the site, prompting increased attention to safety and accessibility. Additionally, the Rio de Janeiro Transportation Agency (Agetransp) approved relocating the elevators at the Pavuna Metro terminal from the external area to inside the station to improve infrastructure.