BRAZIL · NATURAL GAS
Key Facts
- —The country Brazil, the largest economy in Latin America, regulates natural gas through ANP, the national agency for petroleum, natural gas and biofuels.
- —Why it matters State-controlled Petrobras, the incumbent gas supplier, faces an ANP proposal to sell part of its gas at auction, which would shape gas prices for industry and the outlook for a company whose shares US investors can buy in New York.
- —Why now ANP published a notice on Tuesday 20 October 2026 moving its public hearing on the plan from Wednesday 21 October to Thursday 19 November.
- —What happened ANP’s board approved the new date unanimously, reopened registration until 5 November and lengthened the online hearing to two sessions.
- —The numbers In ANP’s public consultation, 43 of 49 participants (88%) backed the programme, and 40 form responses produced 655 contributions.
- —What it means for you US holders of Petrobras shares and industrial gas buyers in Brazil wait almost a month longer for the next step toward final rules.
- —Still open When ANP’s board will vote on the final text, and whether the auctions it proposed for 2027 stay on schedule.
- —Power Index Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 75.0 points (October 2026 edition).
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Brazil’s oil and gas regulator ANP has moved the Gas Release hearing from Wednesday 21 October to Thursday 19 November 2026, after its board decided unanimously. The programme would make state-controlled Petrobras sell part of its natural gas at auction, and the hearing is the next step before the agency decides on the final text.
For US readers the delay matters because Petrobras, whose shares are listed in New York, is the incumbent gas supplier that the proposal targets. A later hearing keeps the rules in doubt for investors and for gas-hungry industries until at least the second half of November.
ANP opened the public consultation on the programme in August, as we covered in Brazil Gas: ANP Opens Plan To Break Petrobras Grip. This article covers only the postponement and the reactions to it.
What ANP Decided on the Gas Release Hearing
ANP said the hearing, known as Public Hearing No. 16/2026, was first set for 21 October and now falls on 19 November. The notice of the new date, No. 16/2026, was published in the Diário Oficial da União, the federal gazette, on 20 October.
ANP’s board approved the change unanimously in Board Decision No. 814/2026. The agency said the move gives interested parties more time to register, now until 5 November, and it does not state any other reason.
The hearing will be held online on the Teams platform in two sessions, from 10:00 to 12:00 and from 14:00 to 18:00. The earlier schedule was a single session from 14:00 to 18:00.
The trade outlet Agência iNFRA wrote that the directors voted through the agency’s deliberative circuit, with a deadline of Monday 19 October. The vote itself is not public, so the outlet’s description of the process rests on its own sources.
What the Gas Release Programme Would Do
ANP’s formal name for the plan is the Programme to Reduce Concentration in the Natural Gas Market. In Petrobras’s description of the proposal, the company would have to sell part of the gas it holds through auctions, with the starting price, quantity and duration set by ANP.
The energy news agency eixos wrote that the auctions would cover part of the gas Petrobras buys from third parties and gas imported through the Bolivia-Brazil pipeline, known as Gasbol. It added that ANP proposes annual auctions from 2027, with the first competitive cycle ending in 2030.
Agência iNFRA wrote that the proposal leaves out Petrobras’s own production, a narrower scope than the one first drawn up by ANP’s technical staff. It also wrote that the programme’s reach is due for review in 2030.
ANP’s consultation ran for 45 days, from 14 August to 28 September, and 40 form responses produced 655 contributions. Of 49 participants, 43 (88%) backed the programme, eight without reservations and 35 with proposed changes.
Only two participants opposed the programme as proposed, the incumbent supplier and an association of oil and gas producers, according to ANP. The agency stressed that the count of favourable and opposing views does not decide the outcome of the regulatory process.
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How Petrobras and Industry Groups Reacted
Petrobras said on 20 October that it assesses the postponement positively. It argued that the delay lets the public debate avoid being rushed and allows the short, medium and long-term effects of the programme to be better assessed.
The company repeated its objection to the proposal as presented, saying it could reduce the predictability needed for investment in production, imports and infrastructure. It also argued that the measure only redistributes volumes already in the market, with potentially temporary effects.
Petrobras said the new date allows a better-qualified final decision without compromising the later deadlines set by the agency. It added that it had sent its contributions to the consultation in September 2026.
União pela Energia, a movement of more than 70 industrial associations, criticised the delay on 20 October. Its members include groups for chemicals, glass, ceramic tiles, steel, aluminium, ferroalloys and fertiliser raw materials.
The movement said the interests of a single company cannot override the regulator’s autonomy or the public interest, and that no new fact justified the change. It added that the election calendar was already known when the hearing was scheduled.
eixos wrote that ANP’s board had rejected requests from Petrobras and the Brazilian Institute of Petroleum and Gas, known as IBP, in September to postpone the consultation. ANP’s notice of 20 October does not mention that earlier rejection.
Why the New Date Falls After the Runoff
Brazil holds its presidential runoff on Sunday 25 October, and the new hearing date comes almost a month later. The outlet eixos headlined its report that ANP had pushed the Gas Release past the election, while the agency’s own notice mentions no political reason.
Agência iNFRA, citing unnamed sources, wrote that Petrobras and parts of the federal government had pressed informally for delay for months. ANP has not confirmed that account in the material reviewed.
The same outlet wrote that the Civil House, the president’s chief-of-staff office, and the Planning and Budget Ministry sided with Petrobras, while the Mines and Energy Ministry and the Development, Industry, Trade and Services Ministry favoured the measure. Those ministry positions come from unnamed sources and were not confirmed by the ministries in the reports reviewed.
Agência iNFRA also noted that the term of ANP director Fernando Moura ends on 9 November, with an interim replacement expected. Any vote on the final text would therefore come after a change in the board.
What It Means for You
US holders of Petrobras shares face a longer wait to learn how much of the company’s gas business could be opened to rivals. The company says the programme could cut investment, while supporters say it would add competition, and the Gas Release hearing on 19 November is the next point where both sides will be heard.
Chemical, steel, glass and ceramic producers in Brazil use gas as fuel or raw material, and their trade groups say more competition would help them. A later hearing postpones any change to how they buy gas.
For background, our guides Who Runs Brazil’s Economy in 2026 and Brazil Power Structure Explained cover the players behind the decision. Readers based in Rio de Janeiro, where Petrobras has its headquarters, can find day-to-day guidance in our Rio de Janeiro expat city guide.
What Is Not Known
ANP’s announcement gives no reason for the new date beyond the extra registration time. The accounts of pressure from Petrobras and from ministries rest on unnamed sources and could not be confirmed independently.
It is not known when the board will vote on the final text or whether it will keep the auctions proposed from 2027. The starting price, quantity and duration of any auction are still to be set by ANP, according to Petrobras’s description of the proposal.
The sources reviewed do not show any share-price reaction tied to the decision. They also do not say whether the board will consider further changes to the draft after the hearing.
Frequently Asked Questions
What did ANP decide about the Gas Release hearing?
ANP moved the public hearing from 21 October to 19 November 2026. Its board approved the change unanimously, and registration is open until 5 November.
What is Gas Release?
It is an ANP proposal to make Petrobras sell part of its natural gas through auctions. The agency says its aim is to reduce concentration in Brazil’s gas market.
Why does Petrobras oppose the proposal?
Petrobras says the proposal could reduce the predictability needed for investment and lead to a smaller expansion of gas supply. It also argues that the measure only redistributes volumes already in the market.
Who supports the programme?
In ANP’s consultation, 43 of 49 participants (88%) backed it, most asking for changes. The União pela Energia movement of industrial groups has also defended it.
What does the delay mean for US investors?
It means a longer wait for final rules that could affect Petrobras’s gas business. The proposed auctions from 2027 remain a proposal, and no final design has been approved.
Sources: ANP notice, 20 October 2026; ANP consultation report notice, 5 October 2026; Petrobras statement, 20 October 2026; Agência iNFRA, 19 and 20 October 2026; Agência iNFRA on União pela Energia, 20 October 2026; eixos, 20 October 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief