Petrobras announces 39% increase in natural gas for distributors

Petrobras announces 39% increase in natural gas for distributors
Petrobras announces 39% increase in natural gas for distributors
As of May 1, natural gas sales prices to distributors will be 39% more expensive in reais per cubic meters (R $ / m³), ​​compared to the last quarter. Measured in dollars per million BTU, a unit of energy used in the United States and the United Kingdom, (US $ / MMBtu), the adjustment will be 32%.

According to Petrobras’ announcement, the variation is the result of “the application of the formulas of supply contracts, which link the price to the price of oil and the exchange rate”. According to the company, the contract price updates are quarterly and in relation to the months of May, June and July, the reference adopted is the prices of the months of January, February and March.

“During this period, oil increased by 38%, following the upward trend of commodities global. In addition, domestic prices of commodities they rose due to the devaluation of the real ”, informed the oil company in a note.

The transfer of costs incurred by the company to transport the product to the delivery point to the distributors also influences Petrobras’ natural gas prices. These costs are defined by tariffs regulated by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). “This portion of the price is updated annually in the month of May by the IGP-M, which, for the measurement period (March 2020 to March 2021), registered an increase of 31%”.

Due to the effect of the drop in oil prices at the beginning of the year, during 2020, natural gas prices to distributors reached an accumulated reduction of up to 35% in reais and 48% in dollars.

Petrobras also informed that the final price of natural gas to the consumer is not only determined by the company’s selling price, but also by the margins of the distributors and, in the case of CNG, of the resale stations, and by federal and state taxes.

“In addition, the tariff approval process is carried out by the state regulatory agencies, in accordance with specific legislation and regulations. The sales contracts for the distributors are public and are available for consultation on the ANP website ”, concluded the company.

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