Oil, gas and biofuels: where the public money is

BNDES credit for the chain

• BNDES Finem - Oil and natural gas production and decommissioning: financing for the implementation, expansion, modernization, construction, integration and assembly of facilities and/or services for oil and natural gas production activities, as well as investments in the decommissioning of end-of-life production systems.
• BNDES Finem - Infrastructure for pipeline transport, liquefaction and regasification terminals for natural gas, biogas and biomethane: support for the implementation, expansion, modernization, construction and assembly of infrastructure and/or services for pipeline outflow and transport, liquefaction and regasification terminals for natural gas, biogas and biomethane.
• BNDES Finem - Infrastructure for processing and compression of natural gas, biogas, biomethane and storage of natural gas and natural gas liquids: support for the implementation, expansion, modernization, construction and assembly of infrastructure and/or services for natural gas processing and compression units and for natural gas and natural-gas-liquids storage facilities and services.
• BNDES Finem - Infrastructure for natural gas distribution and expansion of the vehicle refueling network: support for the implementation, expansion or modernization of infrastructure and/or services for piped, compressed and liquefied natural gas distribution and for the natural-gas vehicle refueling network.
• BNDES Finem - Environment - Advanced sustainable fuels, biorefineries and associated infrastructure: support for investments in the implementation, expansion, modernization or adaptation of advanced sustainable fuel production units, biorefineries and their associated infrastructure.
• BNDES RenovaBio: direct support through ESG (Environmental, Social and Governance) credit for the biofuels sector, under the RenovaBio Policy, with incentives for improving energy-environmental efficiency and production certification.
• Outflow, refining and distribution lines for derivatives and biofuels are in the full BNDES Navigator sweep (page in Portuguese).

Biofuels - a targets-and-credits policy, not a loan

• RenovaBio: the National Biofuels Policy (Law No. 13,576/2017) - certified producers issue CBIOs, decarbonization credits traded with fuel distributors. It is market revenue linked to certification, not financing.
• REHIDRO and PHBC: incentives and the low-emission hydrogen policy (Law No. 14,948/2024, Decree No. 13,096/2026) - detailed in the carbon and decarbonization guide.

R&D in the oil and gas chain

• ANP R&D clause: oil companies have a contractual obligation to invest in research and development; companies, universities and technology institutes take part as executors of eligible projects - it is not a universal open call.
• Review under way: the ANP approved the opening of a public consultation and hearing on the review of these investment rules (Public Consultation and Hearing No. 22/2026) - the rules may change.
• Finep and FNDCT: their own modalities for sector research and innovation.

Infrastructure tax incentive

• REIDI: a special incentives regime for qualified infrastructure projects, with suspension of taxes on the acquisition of goods and services - prior qualification with the Federal Revenue Service, under the regime's rules.

Activities that usually qualify

• Oil and gas extraction, drilling services and platform equipment;
• Refining, biodiesel, ethanol, biogas, biomethane and sustainable aviation fuels;
• Hydrogen, carbon capture and emission-reduction technologies.

Sources

BNDES Financing Navigator; ANP - R&D clause and Public Consultation and Hearing No. 22/2026; Law No. 13,576/2017 (Planalto); Law No. 14,948/2024 and Decree No. 13,096/2026 (Planalto). All checked on February 11, 2026. Final conditions depend on each instrument's rules.