The program specifically targets gas volumes Petrobras acquires from partner companies in pre-salt fields, imports from Bolivia through the Gasbol pipeline, and volumes from federal concessions the company markets. Petrobras’s own production remains exempt from the mandatory auctions. Of the 18.6 million cubic meters per day Petrobras currently commercializes, approximately 3.5 million cubic meters daily comes from third-party purchases.
ANP selected a “moderate” implementation model establishing annual auctions from 2027 through 2030, beginning at 8 million cubic meters daily and reaching 9.2 million cubic meters daily by the final auction. The program aims to reduce market concentration measured by the Herfindahl-Hirschman Index from the current 3,747 points nationally to 2,500 points, representing moderate rather than high concentration. Regional concentration exceeds 4,000 points in the Southeast and 5,000 points in the South.
Petrobras president Magda Chambriard rejected the characterization, stating “we are not an NGO, we are a company that must generate profit.” The company suspended studies for a USD 1 billion pipeline associated with the Sergipe Deepwater project following the gas release proposal. Petrobras argues the program creates intermediaries without generating new supply or reducing prices, while director William Nozaki stated regulatory changes require project reviews to ensure continued profitability.
ANP director Mendes cited Northeast pricing as evidence that divestment works, noting gas prices fell 15% below Southeast and South levels after Petrobras sold production assets in those regions during previous administrations. The agency expects the program to reduce concentration without discouraging Petrobras investment since own-production remains untouched, though the company will continue purchasing associated gas from oil production across the sector.
This article was curated and published as part of our South American energy market coverage.
