ANP Seeks Audits to Validate Financial Resources of Fuel Sector Companies

The ANP is seeking greater transparency regarding the source of funds for fuel companies through independent audits and efforts to combat tax evasion.

The National Agency of Petroleum, Natural Gas and Biofuels (ANP) has taken a significant step toward improving security and transparency within the fuel sector. In a recent meeting, the agency’s board proposed the adoption of an independent audit report, registered with the Securities and Exchange Commission (CVM), to certify the lawful origin of financial resources for companies operating in the fuel supply chain.

This measure aims to ensure that the capital invested by producers, distributors, and retailers of liquid fuels has a proven legal origin. The audit document must confirm the absence of irregularities in the funds used for the companies’ share capital, as well as clarify the identity of their ultimate beneficial owners.

New Rules for Financial Verification

The proposal, which will undergo a public consultation, aims to strengthen oversight of market agents. While independent audits are the primary focus, the ANP is not ruling out the possibility of establishing agreements with financial institutions and public agencies to assist in monitoring and verifying the legality of these funds.

The rapporteur, Director Daniel Maia, stated:

The objective is to enable the agency to directly verify the lawfulness of these resources.

This requirement is aligned with the spirit of the Persistent Tax Debtor Law (LCP 225/2026), which seeks to combat illicit practices in the sector.

Impact and Transition Periods

The new guideline will cover a significant number of companies, impacting more than 45,000 agents. The ANP acknowledges the volume of work this verification will entail, and for this reason, Daniel Maia suggested a two-year transition period for the full implementation of the rule for companies already authorized.

For fuel distributors, the adaptation period will be the same as the previous resolution that established a minimum share capital of R$ 10 million, expiring at the end of 2026. However, for producers and retailers, a two-year deadline for compliance with the new requirement will be applied.

The Struggle for Access to Tax Data

During the meeting, ANP directors expressed frustration over the postponement of the vote on the Complementary Bill (PLP 109/2025). The bill, which would grant the agency direct access to product sales invoices, had its vote delayed in the National Congress.

Daniel Maia vented:

For more than a decade, we have been fighting to gain access to tax documents related to the commercialization of the products we regulate.

Director-General Artur Watt and Director Pietro Mendes shared the expectation that, following the elections, PLP 109/2025 will be voted on and approved, strengthening the ANP‘s oversight tools and ensuring greater integrity in the fuel market.