Brazil finding the balance
The country faces key downstream and infrastructure challenges
Efforts to reform Brazil's downstream fuels market illustrate the tension between trying to move away from over-arching state control, but also placate a populace angry after corruption scandals and economic austerity. Under existing law, Petrobras plays the role of the country's sole supplier, but this no longer reflects the on-the-ground reality. Nor is it the part the company, which is actively looking for partnerships at some of its refineries, is keen to play. The supreme federal court is, though, taking a keen interest in the legality of any potential partnership. It's estimated that, to meet Brazil's fuels demand in 2030, an investment of over $10bn in downstream infrastructure would
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
