In South and Central America, fossil fuel consumption fell 4%, driven by the growth of renewable energy in markets such as Brazil. Meanwhile, oil production expanded by 10.3% in these regions, where development was driven mainly by Argentina, Brazil, Venezuela and Guyana. These are findings from the study Statistical Review of World Energy 2026, conducted by KPMG in partnership with Ember and in collaboration with Kearney.

According to the document, Brazil consumed 2.61 million barrels of oil per day last year, an increase of 1.4% compared to 2024, making the country responsible for 2.5% of global consumption of the input.

"Brazil remains a standout in oil production among the major global producers thanks to the pre-salt. With regard to renewable energy, the country adopts a diversified approach, expanding where possible while at the same time reducing its dependence on fossil fuels," explains Manuel Fernandes, KPMG's lead partner for the energy and natural resources sector in Brazil and South America.

The survey also addresses topics related to energy matrices, such as the share of hydroelectric plants, the continued growth of renewable energy — especially wind and solar — and the presence of biofuels such as ethanol. In addition, it assesses how this combination places Brazil among the countries with the highest share of renewable sources in electricity generation.

"The country remains a global benchmark in low-carbon electricity generation and in the production and use of biofuels, especially ethanol and biodiesel. The national energy matrix is among the cleanest globally, and companies continue to expand their investments in renewable energy," he concludes.

For more information on the survey "Statistical Review of World Energy 2026", the link is as follows: Energy Institute Statistical Review of World Energy

About KPMG – KPMG is a global network of independent firms that provides professional audit, tax and advisory services. It is present in 142 countries and territories, with 275,000 professionals working in member firms around the world. In Brazil, there are more than five thousand professionals, spread across 15 cities in 10 states and the Federal District.

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