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Petrobras on New Natural Gas Price for Distributors

Source: www.gulfoilandgas.com 11/4/2020, Location: South America

Petrobras has readjusted, on 11/01/2020, the sales prices of natural gas for distributors for the contracts started in January 2020. The adjustments occurred according to parameters negotiated in contractual formulas, due to variations in Brent oil prices and the Real/Dollar exchange rate in the last quarter. The readjustment was 26% in US$/MMBtu in relation to the August 2020 gas price. When measured in R$/m3, the readjustment is 33%.

Despite the increase in this quarter, prices accumulated a reduction of 38% in US$/MMBtu and 13% in R$/m3, since December 2019 (considering the exchange rate of 10/30/2020).

The company clarifies that the natural gas final price to the consumer is determined not only by gas molecule and transportation cost, but also by distributors’ margins and federal and state taxes. Moreover, the process of tariff approval is carried out by state regulatory agencies, according to specific legislation and regulation.

The sales contracts for the distributors are public and are available for consultation on the website of the National Petroleum, Natural Gas and Biofuels Agency (ANP).

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