Petrobras board approves joining Brazil’s R$1.00/liter diesel subsidy program

Petrobras said its Board of Directors approved participation in Brazil’s economic subsidy program for diesel producers and importers under Provisional Measure No. 1,391. The Finance Ministry ordinance sets the subsidy at R$1.00 per liter of road-use Grade “A” diesel for 30 days, extendable by another 30 days.

Petrobras said its board cleared participation in Brazil’s newest diesel subsidy window, stacking it on top of an earlier program rather than replacing it.

Board decision

On September 19, 2026, Petróleo Brasileiro S.A. – Petrobras reported that its Board of Directors, meeting on Friday, September 18, approved the company’s participation in the economic subsidy program for producers and importers of diesel fuel and blending components established by Provisional Measure No. 1,391 of September 11, 2026.

Participation will follow applicable regulations, including Ministry of Finance Ordinance No. 2,813 published September 16, 2026, which sets the subsidy at R$1.00 per liter of road-use Grade “A” diesel for 30 days, with a possible extension of the same length.

Cumulative with the prior window

Petrobras said joining the new program does not affect subsidies already owed under prior authority and does not revoke participation in the subsidy authorized by Provisional Measure No. 1,363/2026 at R$1.12 per liter of Grade “A” diesel. Benefits under both programs are cumulative, the company stated.

Conditions still ahead

Effective execution of the participation agreement remains subject to publication and review of regulations required to implement Provisional Measure No. 1,391/2026. Petrobras framed participation as voluntary and consistent with its interests, while saying it maintains a commercial strategy focused on market share, refining-asset optimization, and sustainable profitability.