# Vibra Energia
**Vibra Energia S.A.** is a Brazilian publicly traded company and the country's largest fuel distributor, present in all 26 states and the Federal District, which it is repositioning as a multi-energy platform spanning fuels, lubricants, aviation fuel, electricity, and natural gas.[1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf) It is the former BR Distribuidora, created in 1971 as Petrobras Distribuidora and privatized in stages between 2017 and 2021; the rebrand to Vibra took place in August 2021, not 2023 as is sometimes stated.[2](https://www.terra.com.br/economia/br-distribuidora-muda-de-nome-para-vibra-para-se-distanciar-de-petrobras,a60a7d1e3081de121d6cdb7ee7c4bd78xsm8451l.html)
| Key fact | Detail |
|---|---|
| Identity | Former BR Distribuidora; incorporated 12 November 1971 as Petrobras Distribuidora S.A.; renamed Vibra Energia in August 2021[3](https://www.fuelsandlubes.com/fli-article/vibra-energia-brazils-largest-fuel-distributor-reborn/) |
| Market position | 23.2% of Brazilian diesel and 21.6% of gasoline C sales in 2024, ahead of Ipiranga and Raízen; 31% of the branded station network in 1S24[19](https://cdn.cade.gov.br/Portal/centrais-de-conteudo/publicacoes/estudos-economicos/cadernos-do-cade/Cadernos%20do%20Cade%20-%20Mercados%20de%20distribui%c3%a7%c3%a3o%20e%20varejo%20de%20combust%c3%adveis%20l%c3%adquidos%20atualiza%c3%a7a%c3%a3o_VDEE_limpo%202%20(1).pdf) • [4](https://vipfiles.valor.com.br/BDEmpresas/4251c1fa-f0e6-4f94-8248-146d4493d2ca.pdf) |
| 2024 results | Net sales revenue R$ 172,272 million (audited), net income R$ 6,367 million, adjusted EBITDA R$ 6.3 billion[5](https://vipfiles.valor.com.br/BDEmpresas/4efd9d47-2229-4491-b39f-8eb1756e4202.pdf) |
| Petrobras dependence | 89.7% of volume supplied by Petrobras; holds 38% of fuel supply quotas; brand license runs to June 2029[6](https://www.cfasociety.org.br/wp-content/uploads/2025/08/FinalVersion-CJE-FGV-Team-11.pdf) • [3](https://www.fuelsandlubes.com/fli-article/vibra-energia-brazils-largest-fuel-distributor-reborn/) |
| Network | 7,897 Petrobras-branded stations, 1,402 BR Mania convenience stores, 1,600+ Lubrax+ franchises, 92 operational units, 1.6 million m³ of static tankage[1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf) • [4](https://vipfiles.valor.com.br/BDEmpresas/4251c1fa-f0e6-4f94-8248-146d4493d2ca.pdf) |
| Energy transition | Full acquisition of Comerc completed January 2025 (~R$ 7 billion total); target of 30% of EBITDA from New Energies by 2030[7](https://www.fecombustiveis.org.br/noticia/como-a-vibra-planeja-levar-sua-bandeira-a-mais-postos-e-ampliar-lideranca-no-mercado/263796) • [8](https://vibraenergia.com.br/sites/default/files/2024-07/ENG%20Vibra_RS23_resumida_Final_0.pdf) |
| Ownership | No controlling shareholder; main holders Nova Futura 10.1%, Dynamo 9.9%, Previ 5.2%, BlackRock 5.2%, and Lazard 5%, with ~65% dispersed[7](https://www.fecombustiveis.org.br/noticia/como-a-vibra-planeja-levar-sua-bandeira-a-mais-postos-e-ampliar-lideranca-no-mercado/263796) |
## History: from Petrobras Distribuidora to Vibra
The company was created in 1971 as Petrobras Distribuidora, with a network of 840 stations, to distribute petroleum derivatives and fuel alcohol.[9](https://www.maxwell.vrac.puc-rio.br/63444/63444.PDF) The Lubrax lubricants brand launched in 1973, and the company was renamed BR in 1982.[9](https://www.maxwell.vrac.puc-rio.br/63444/63444.PDF) Its 2017 initial public offering on B3's Novo Mercado raised R$ 5 billion for 28.75% of the shares.[9](https://www.maxwell.vrac.puc-rio.br/63444/63444.PDF)
**Privatization came in steps.** A follow-on offering in July 2019 cut [Petrobras](https://www.edgepedia.org/petrobras)' stake from 71% to 41% (37.5% per the trade-press account), and in June 2021 Petrobras sold its remaining shares entirely.[2](https://www.terra.com.br/economia/br-distribuidora-muda-de-nome-para-vibra-para-se-distanciar-de-petrobras,a60a7d1e3081de121d6cdb7ee7c4bd78xsm8451l.html) • [3](https://www.fuelsandlubes.com/fli-article/vibra-energia-brazils-largest-fuel-distributor-reborn/) In August 2021, about two months after the exit, BR Distribuidora was renamed Vibra Energia, a brand created by Tátil Design over a 14-month process, explicitly to distance the company from Petrobras; at that point 87% of shares were in free float.[2](https://www.terra.com.br/economia/br-distribuidora-muda-de-nome-para-vibra-para-se-distanciar-de-petrobras,a60a7d1e3081de121d6cdb7ee7c4bd78xsm8451l.html) • [19](https://cdn.cade.gov.br/Portal/centrais-de-conteudo/publicacoes/estudos-economicos/cadernos-do-cade/Cadernos%20do%20Cade%20-%20Mercados%20de%20distribui%c3%a7%c3%a3o%20e%20varejo%20de%20combust%c3%adveis%20l%c3%adquidos%20atualiza%c3%a7a%c3%a3o_VDEE_limpo%202%20(1).pdf) At the rebrand, then-CEO Wilson Ferreira Júnior framed the move as a shift from fuel distributor to multi-energy solutions provider.[10](https://www.bnamericas.com/pt/entrevistas/vibra-energia-vai-alem-da-distribuicao-de-combustivel)
## Business mix and operations
**Fuels remain the core.** The Postos (service-station) segment accounts for roughly 62% of adjusted net revenues and 37% of total adjusted EBITDA, while B2B accounts for about 38% of adjusted net revenues and 23% of adjusted EBITDA; Vibra leads B2B with a 33.3% market share, serving 10,400 companies in more than 30,000 facilities, about a third of all corporate fuel consumption in Brazil.[5](https://vipfiles.valor.com.br/BDEmpresas/4efd9d47-2229-4491-b39f-8eb1756e4202.pdf) • [1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf) Through the licensed BR Aviation brand it supplies six out of ten commercial flights from Brazil and operates in 94 airports.[1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf) • [5](https://vipfiles.valor.com.br/BDEmpresas/4efd9d47-2229-4491-b39f-8eb1756e4202.pdf)
The retail-facing ecosystem includes 7,897 gas stations licensed under the Petrobras brand serving more than 30 million consumers monthly, 1,402 BR Mania convenience stores (2024 sales up 14% to R$ 1.8 billion), and more than 1,600 Lubrax+ franchise units, the fifth-largest franchise in Brazil with 41% revenue growth in 2024.[1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf) The lubricant industrial complex in Rio de Janeiro, expanded in 2024 with a 66% capacity increase, is the largest in Latin America and the fifth-largest worldwide.[1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf) • [5](https://vipfiles.valor.com.br/BDEmpresas/4efd9d47-2229-4491-b39f-8eb1756e4202.pdf) In 2024 the company also added natural gas to its portfolio.[1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf)
## By the numbers
Reported figures differ between the company's documents. Net sales revenue rose 5.7% from R$ 162,947 million in 2023 to R$ 172,272 million in 2024, driven by a 9.0% increase in average prices partially offset by a 3.0% volume decline (diesel down 4.0%, aviation fuels up 10.4%).[5](https://vipfiles.valor.com.br/BDEmpresas/4efd9d47-2229-4491-b39f-8eb1756e4202.pdf) The company's integrated report instead lists revenue of R$ 180,429 million for 2023 and R$ 183,694 million for 2024.[1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf)
**Profitability swung with the fuel-price cycle.** 2023 was a record year, with adjusted EBITDA of R$ 8.85 billion (up 73%) and net profit of R$ 4.8 billion.[8](https://vibraenergia.com.br/sites/default/files/2024-07/ENG%20Vibra_RS23_resumida_Final_0.pdf) In 2024 adjusted EBITDA fell to R$ 6.3 billion while net income rose 33.6% to R$ 6,367 million, with leverage of 0.9x and free cash flow of R$ 3.3 billion.[1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf) • [5](https://vipfiles.valor.com.br/BDEmpresas/4efd9d47-2229-4491-b39f-8eb1756e4202.pdf) Margins are measured per cubic meter of fuel sold: the 3T24 quarter showed R$ 212/m³ on volume of 9,385 thousand m³, and full-year 2024 distribution margin was R$ 175/m³ (the financial statements report R$ 180/m³, a discrepancy the company documents do not reconcile).[11](https://www.rad.cvm.gov.br/ENET/frmDownloadDocumento.aspx?CodigoInstituicao=1&Tela=ext&descTipo=IPE&numProtocolo=1298602) • [1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf) • [5](https://vipfiles.valor.com.br/BDEmpresas/4efd9d47-2229-4491-b39f-8eb1756e4202.pdf) In 2025 the company sold 35.9 million m³, with net revenue of BRL 189.8 billion (up 10%), consolidated adjusted EBITDA of BRL 7.9 billion, distribution margin up to BRL 197/m³, free cash flow of BRL 5.5 billion, and leverage of 2.4x.[3](https://www.fuelsandlubes.com/fli-article/vibra-energia-brazils-largest-fuel-distributor-reborn/)
## Market position and competitors
Vibra leads Brazilian fuel distribution across products. In 2024 it held 23.2% of the 134.3-million-m³ diesel market (Ipiranga 17.7%, Raízen 16.5%, the top three together 57.5%), and 21.6% of gasoline C sales (Ipiranga 16.7%, Raízen 15.5%, together 53.8% of 44.4 million m³); in hydrated ethanol Raízen led with 16.8% against 16.7% each for Vibra and Ipiranga.[19](https://cdn.cade.gov.br/Portal/centrais-de-conteudo/publicacoes/estudos-economicos/cadernos-do-cade/Cadernos%20do%20Cade%20-%20Mercados%20de%20distribui%c3%a7%c3%a3o%20e%20varejo%20de%20combust%c3%adveis%20l%c3%adquidos%20atualiza%c3%a7a%c3%a3o_VDEE_limpo%202%20(1).pdf) As of October 2024, Vibra led combined gasoline, diesel, and ethanol sales with 21.7%, ahead of Shell/Raízen (18.6%) and Ipiranga (17.2%, which also licenses the returning Texaco brand), with Larco fourth at 2.5% and Ale at 2.1%.[12](https://valorinternational.globo.com/business/news/2024/12/09/new-players-intensify-competition-in-brazils-fuel-distribution-sector.ghtml) By branded stations in August 2025, the Vibra flag was the largest single brand at 14.6%, ahead of Ipiranga (12.7%), Raízen (10.5%), and Ale (2.6%).[13](https://cdn.cade.gov.br/Portal/centrais-de-conteudo/publicacoes/estudos-economicos/documentos-de-trabalho/2026/Documento%20de%20Trabalho%20001%20-%20Varejo%20Liquidos.pdf)
**Share eroded in 2024, then recovered.** Per ANP data, Vibra's share of national fuel sales fell from 23.86% in 2023 to 21.81% in 2024, with Raízen and Ipiranga also losing ground to regional distributors; Citi analyst Gabriel Barra attributed the loss to the large distributors' focus on return on invested capital rather than volume.[14](https://eixos.com.br/newsletters/comece-seu-dia/grandes-distribuidoras-perderam-participacao-no-mercado-de-combustiveis-em-2024/) In 2025 Vibra's share rose 0.8 percentage points to 24.5%.[3](https://www.fuelsandlubes.com/fli-article/vibra-energia-brazils-largest-fuel-distributor-reborn/) A 2026 academic analysis characterizes the Brazilian fuel market as a regulated oligopoly with high concentration and entry barriers.[15](https://www.revistaacademicaonline.com/index.php/rao/article/view/2069)
## Dependence on Petrobras
Privatization changed ownership but not supply. In 2019, of roughly 65 million m³ of diesel A and gasoline A delivered by Brazilian refineries to distributors, Petrobras supplied about 97%.[16](https://www.gov.br/anp/pt-br/centrais-de-conteudo/publicacoes/livros-e-revistas/arquivos/diagnostico-sdc-2020.pdf) Vibra holds 38% of the fuel supply quotas (final quotas), against 23% for Raízen and 24% for Ultra, and 89.7% of its volume is still supplied by Petrobras.[6](https://www.cfasociety.org.br/wp-content/uploads/2025/08/FinalVersion-CJE-FGV-Team-11.pdf)
**Pricing policy matters directly.** Petrobras' 2023 move away from import parity pricing (IPP) toward a price band reduced the attractiveness of imports: in 2024 IPP was cheaper than Petrobras prices only 45% of the time and imports were profitable only 15% of the time, a dynamic that favors Vibra's quota position; at the time of the CFA/FGV report the gap between Petrobras prices and IPP had reached 22% for diesel and 13% for gasoline, while discounted [Urals crude](https://www.edgepedia.org/urals-crude) had made imports cheap for smaller distributors.[6](https://www.cfasociety.org.br/wp-content/uploads/2025/08/FinalVersion-CJE-FGV-Team-11.pdf)
The brand relationship is also unresolved. Vibra's license to use the Petrobras/BR brand family runs until June 2029 unless renewed; corporate brand awareness of Vibra among drivers stood at only 19.1% in CVA Solutions research.[3](https://www.fuelsandlubes.com/fli-article/vibra-energia-brazils-largest-fuel-distributor-reborn/) In January 2024 Petrobras notified Vibra that it would not renew the licensing contract, which ran from 28 June 2019 to 28 June 2029; CEO Ernesto Pousada has said the interest is to renew, and Vibra would have six years to rebrand if it is not.[17](https://revistaforum.com.br/economia/petrobras-nao-vai-renovar-contrato-com-a-vibra-que-assumiu-br-distribuidora-privatizada/) • [7](https://www.fecombustiveis.org.br/noticia/como-a-vibra-planeja-levar-sua-bandeira-a-mais-postos-e-ampliar-lideranca-no-mercado/263796)
## Recent developments
**Comerc became wholly owned.** Vibra agreed in 2024 to acquire the remaining 50% of Comerc Energia for R$ 3.52 billion (base date 1 July 2024), with CADE approval and closing in January 2025; across the two acquisition stages (2022 and 2025) the total outlay was about R$ 7 billion. Comerc is Brazil's largest energy trader, with 1.7 GW of installed wind and solar capacity and roughly 17% of the free energy market.[11](https://www.rad.cvm.gov.br/ENET/frmDownloadDocumento.aspx?CodigoInstituicao=1&Tela=ext&descTipo=IPE&numProtocolo=1298602) • [7](https://www.fecombustiveis.org.br/noticia/como-a-vibra-planeja-levar-sua-bandeira-a-mais-postos-e-ampliar-lideranca-no-mercado/263796)
**The ethanol joint venture ended.** Vibra concluded the sale of its 49.99% stake in Evolua Etanol to Copersucar (announced December 2025, finalized by April 2026), a divestment tied to greater flexibility in ethanol origination; management estimated an immediate EBITDA uplift of BRL 4–5/m³ from the exit.[18](https://cenarioenergia.com.br/2026/04/15/vibra-energia-sai-da-evolua-etanol-e-copersucar-assume-controle-total-da-operacao/) • [3](https://www.fuelsandlubes.com/fli-article/vibra-energia-brazils-largest-fuel-distributor-reborn/) In Q1 2026, adjusted EBITDA reached BRL 3.2 billion, including an extraordinary BRL 800 million IPI credit on lubricant manufacturing; the recurring margin was BRL 258/m³ on 8,737 thousand m³ sold, with market share at 23.6% and leverage reduced to 2.0x on net debt of BRL 18.6 billion.[20](https://www.vibraenergia.com.br/sites/default/files/2026-05/07.05.2026_Resultados%20T126.pdf)
Regulation also shifted in Vibra's favor. The federal single-phase PIS/Cofins on ethanol lifted commercial margins by approximately 40% in 2025, and enforcement measures such as the "devedor contumaz" (habitual debtor) rule against tax fraud supported the share recovery.[3](https://www.fuelsandlubes.com/fli-article/vibra-energia-brazils-largest-fuel-distributor-reborn/) • [14](https://eixos.com.br/newsletters/comece-seu-dia/grandes-distribuidoras-perderam-participacao-no-mercado-de-combustiveis-em-2024/) From 2022 to 2024 the company's EBITDA grew more than 20%, margins improved more than 15%, and market value more than doubled from R$ 17 billion to R$ 35 billion, with an investment-grade rating from [S&P Global](https://www.edgepedia.org/s-and-p-global).[7](https://www.fecombustiveis.org.br/noticia/como-a-vibra-planeja-levar-sua-bandeira-a-mais-postos-e-ampliar-lideranca-no-mercado/263796)
## Energy transition: strategy and reality
Vibra targets 30% of EBITDA from New Energies by 2030, and a 67% reduction in Scope 1 and 2 emissions by 2026 from a 2019 base, with [Scope 3](https://www.edgepedia.org/scope-3) neutralization by 2050.[8](https://vibraenergia.com.br/sites/default/files/2024-07/ENG%20Vibra_RS23_resumida_Final_0.pdf) • [1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf) Concrete steps include Brazil's first carbon-neutral gasoline (2023), a 50% stake in ZEG Biogás (whose Jambeiro, SP plant is being doubled to 30 thousand m³/day from 2H2025), 9.5 million m³ of ethanol sold in 2024, and the first commercial SAF import into Brazil in January 2025, about 550,000 liters from Antwerp blended at a 10% SAF/90% fossil ratio.[8](https://vibraenergia.com.br/sites/default/files/2024-07/ENG%20Vibra_RS23_resumida_Final_0.pdf) • [11](https://www.rad.cvm.gov.br/ENET/frmDownloadDocumento.aspx?CodigoInstituicao=1&Tela=ext&descTipo=IPE&numProtocolo=1298602) • [1](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf) • [3](https://www.fuelsandlubes.com/fli-article/vibra-energia-brazils-largest-fuel-distributor-reborn/)
**The renewables economics are strained.** In the first nine months of 2025 the renewables division's revenue grew 34% to R$ 4.23 billion but posted a R$ 125 million loss, after a R$ 222 million loss in the same period of 2024.[7](https://www.fecombustiveis.org.br/noticia/como-a-vibra-planeja-levar-sua-bandeira-a-mais-postos-e-ampliar-lideranca-no-mercado/263796) Comerc delivered 2025 EBITDA of BRL 1.09 billion despite curtailment reaching 22% for the year, and its consumer base grew from 69,000 to over 100,000 units; in Q1 2026 its EBITDA fell 28% to BRL 192 million amid curtailment of almost 20%.[3](https://www.fuelsandlubes.com/fli-article/vibra-energia-brazils-largest-fuel-distributor-reborn/) Against the 2030 target, the gap remains wide: fuels still dominate EBITDA, and the renewables division is loss-making even as it grows.
## Logistics network
Vibra operates 92 operational units covering all Brazilian states (43 company-operated, 16 with partners, 25 shared with other distributors, and 8 by logistics operators), with presence in 10 Brazilian ports and 2,300 municipalities and total static tankage of 1.6 million m³; the company states its logistics costs run 15–20% below market.[9](https://www.maxwell.vrac.puc-rio.br/63444/63444.PDF) • [4](https://vipfiles.valor.com.br/BDEmpresas/4251c1fa-f0e6-4f94-8248-146d4493d2ca.pdf) On storage, Vibra alone holds one third of Brazil's total installed fuel storage capacity, almost double Raízen's and triple Ultrapar's.[6](https://www.cfasociety.org.br/wp-content/uploads/2025/08/FinalVersion-CJE-FGV-Team-11.pdf) For context, Brazil as a whole had 301 ANP-authorized distribution bases with 7.9 million m³ of nominal storage at end-2024.[19](https://cdn.cade.gov.br/Portal/centrais-de-conteudo/publicacoes/estudos-economicos/cadernos-do-cade/Cadernos%20do%20Cade%20-%20Mercados%20de%20distribui%c3%a7%c3%a3o%20e%20varejo%20de%20combust%c3%adveis%20l%c3%adquidos%20atualiza%c3%a7a%c3%a3o_VDEE_limpo%202%20(1).pdf)
## Ownership and governance
No shareholder controls Vibra. At end-September 2025 the main holders were Nova Futura (10.1%), Dynamo (9.9%), Previ (5.2%), [BlackRock](https://www.edgepedia.org/blackrock) (5.2%), and Lazard (5%), with about 65% of capital dispersed; net debt was R$ 18.75 billion with leverage of 2.7x.[7](https://www.fecombustiveis.org.br/noticia/como-a-vibra-planeja-levar-sua-bandeira-a-mais-postos-e-ampliar-lideranca-no-mercado/263796) CEO Ernesto Pousada has led the company since February 2023.[7](https://www.fecombustiveis.org.br/noticia/como-a-vibra-planeja-levar-sua-bandeira-a-mais-postos-e-ampliar-lideranca-no-mercado/263796) The company holds an S&P Global investment-grade rating.[7](https://www.fecombustiveis.org.br/noticia/como-a-vibra-planeja-levar-sua-bandeira-a-mais-postos-e-ampliar-lideranca-no-mercado/263796)
## References
1. [Vibra Energia Integrated Report 2024 (summarized)](https://vibraenergia.com.br/sites/default/files/2025-07/RS2024_Vibra_Resumida_EN_D3a.pdf)
2. [BR Distribuidora muda de nome para Vibra para se distanciar de Petrobras (Forbes Brasil via Terra)](https://www.terra.com.br/economia/br-distribuidora-muda-de-nome-para-vibra-para-se-distanciar-de-petrobras,a60a7d1e3081de121d6cdb7ee7c4bd78xsm8451l.html)
3. [Vibra Energia: Brazil's largest fuel distributor reborn (F&L Asia, 27 May 2026)](https://www.fuelsandlubes.com/fli-article/vibra-energia-brazils-largest-fuel-distributor-reborn/)
4. [Vibra Investor Day presentation (2024)](https://vipfiles.valor.com.br/BDEmpresas/4251c1fa-f0e6-4f94-8248-146d4493d2ca.pdf)
5. [Vibra Energia — Management Report / Financial Statements 2024](https://vipfiles.valor.com.br/BDEmpresas/4efd9d47-2229-4491-b39f-8eb1756e4202.pdf)
6. [Recommendation: BUY (CFA Society Brazil / FGV equity research challenge)](https://www.cfasociety.org.br/wp-content/uploads/2025/08/FinalVersion-CJE-FGV-Team-11.pdf)
7. [Como a Vibra planeja levar sua bandeira a mais postos e ampliar liderança no mercado (Fecombustíveis / Estadão)](https://www.fecombustiveis.org.br/noticia/como-a-vibra-planeja-levar-sua-bandeira-a-mais-postos-e-ampliar-lideranca-no-mercado/263796)
8. [Vibra Energia Sustainability Report 2023 (summarized)](https://vibraenergia.com.br/sites/default/files/2024-07/ENG%20Vibra_RS23_resumida_Final_0.pdf)
9. [PUC-Rio case study on Vibra Energia's fuel distribution operations](https://www.maxwell.vrac.puc-rio.br/63444/63444.PDF)
10. [Vibra Energia vai além da distribuição de combustível (BNamericas)](https://www.bnamericas.com/pt/entrevistas/vibra-energia-vai-alem-da-distribuicao-de-combustivel)
11. [Vibra Energia 3T24 results filing (CVM ENET)](https://www.rad.cvm.gov.br/ENET/frmDownloadDocumento.aspx?CodigoInstituicao=1&Tela=ext&descTipo=IPE&numProtocolo=1298602)
12. [New players intensify competition in Brazil's fuel distribution sector (Valor International)](https://valorinternational.globo.com/business/news/2024/12/09/new-players-intensify-competition-in-brazils-fuel-distribution-sector.ghtml)
13. [Documento de Trabalho 001 — Concentração no Varejo de Combustíveis Líquidos (CADE)](https://cdn.cade.gov.br/Portal/centrais-de-conteudo/publicacoes/estudos-economicos/documentos-de-trabalho/2026/Documento%20de%20Trabalho%20001%20-%20Varejo%20Liquidos.pdf)
14. [Grandes distribuidoras perderam fatia no mercado de combustíveis (Eixos)](https://eixos.com.br/newsletters/comece-seu-dia/grandes-distribuidoras-perderam-participacao-no-mercado-de-combustiveis-em-2024/)
15. [Estrutura de mercado e distribuição de combustíveis no Brasil (Revista Acadêmica Online)](https://www.revistaacademicaonline.com/index.php/rao/article/view/2069)
16. [ANP — Diagnóstico da Concorrência na Distribuição e Revenda de Combustíveis Automotivos](https://www.gov.br/anp/pt-br/centrais-de-conteudo/publicacoes/livros-e-revistas/arquivos/diagnostico-sdc-2020.pdf)
17. [Petrobras não vai renovar contrato com a Vibra (Revista Fórum)](https://revistaforum.com.br/economia/petrobras-nao-vai-renovar-contrato-com-a-vibra-que-assumiu-br-distribuidora-privatizada/)
18. [Vibra Energia sai da Evolua Etanol e Copersucar assume controle total da operação (Cenário Energia)](https://cenarioenergia.com.br/2026/04/15/vibra-energia-sai-da-evolua-etanol-e-copersucar-assume-controle-total-da-operacao/)
19. [cdn.cade.gov.br](https://cdn.cade.gov.br/Portal/centrais-de-conteudo/publicacoes/estudos-economicos/cadernos-do-cade/Cadernos%20do%20Cade%20-%20Mercados%20de%20distribui%c3%a7%c3%a3o%20e%20varejo%20de%20combust%c3%adveis%20l%c3%adquidos%20atualiza%c3%a7a%c3%a3o_VDEE_limpo%202%20(1).pdf)
20. [vibraenergia.com.br](https://www.vibraenergia.com.br/sites/default/files/2026-05/07.05.2026_Resultados%20T126.pdf)
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*Topic: Encyclopedia › Society and history › Economics and business › Business and work › Companies and commercial industries › Oil, gas and petrochemical companies*
*Initially written Oct 10, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license