Petrobras ADR Gains 3.2% as G7 Taps Oil Reserves | Oil Report, Oct 2

Ecopetrol S.A. received COP 573.108 billion from the Colombian government for outstanding FEPC receivables for Q3 and Q4 2025. The payment was made via Treasury Bonds, with the total amount allocated to Ecopetrol and Reficar. This payment is part of efforts to strengthen the Ecopetrol Group.

Petrobras and Cheniere Energy (LNG exporter) signed a 22-year deal for 0.8 million tonnes/year of LNG. The agreement aims to reduce Petrobras' market volatility exposure and secure supply. Cheniere operates Sabine Pass and Corpus Christi LNG terminals with 56 mtpa capacity.

Cheniere Energy's subsidiary signed a 22-year LNG sale agreement with Petrobras for 0.8 mtpa. The deal reinforces Cheniere's global LNG position and provides long-term cash flow visibility, according to the company.

Petrobras (PBR) is participating in Brazil's fuel-subsidy programs, receiving R$12.2 billion in reimbursements. The company's board approved a new R$1-per-liter diesel subsidy for 30 days, extendable for another 30. While subsidies support Petrobras, the gap between international and domestic diesel prices remains a concern, with imports at higher prices squeezing margins.

Ecopetrol, Colombia's state oil company, appointed Joaquín Gutiérrez Caballero as its new president on 24 September. Gutiérrez, a close ally of President Abelardo de la Espriella, has no oil industry experience. Ecopetrol's profits have declined for three consecutive years, with 2025 net income dropping 39.5% to COP 9 trillion (US$2.7 billion). The company's shares trade in Bogotá and New York.

Petrobras CEO Magda Chambriard stated the company will not increase its stake in Braskem unless other shareholders do the same. Braskem, which has $11B in debt, is negotiating restructuring with creditors. Petrobras aims to finalize preliminary terms by October 9. Petrobras owns 36.1% of Braskem, with 47% voting rights.