ANP announces flexibility in the proposal to increase the mandatory volume of diesel stocks after criticism from fuel companies

Criticism from fuel producing companies about the final impact of the proposal to increase the mandatory volume of diesel stocks on the price of derivative products led the ANP to announce a relaxation of the project.

Last Wednesday (27/07), the director of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), presented some changes in the proposal to increase the mandatory volume of diesel stocks for companies producing fuels. This is a strategy to circumvent the criticisms of these companies regarding the impacts of the decision, maintaining the essence of the proposal, but with flexibility in some points, such as the deadlines for checking inventories.

Companies in the fuel sector get the ANP to make its proposal to increase the mandatory volume of diesel in company inventories more flexible

In recent days, the ANP had announced a draft proposal regarding diesel inventories at fuel producing and distributing companies, which required them to keep the equivalent of nine days of inventories, valid only for those companies with a market share greater than 8% of the S10 sales in the second half of 2021. However, after a series of criticisms from these companies, the agency went back and announced a flexibility in the proposal. 

Although the item does not yet have a scheduled date for returning to the agenda of the ANP board, the body backtracked a little on the proposals, but without losing the essence of the draft. In this way, the ANP expects to reach a stock of around 1,54 billion liters — 6,6% less than the 1,65 billion liters initially targeted, maintaining the main point of the initiative, the maintenance of large diesel stocks and the increase in the mandatory volume required for these companies in the fuel industry. 

Among the vote to make the proposal more flexible, the rapporteur, Symone Araújo, and the director general of the ANP, Rodolfo Saboia, anticipated the favorable vote, while the directors Daniel Maia and Cláudio Jorge de Souza preferred not to anticipate the vote.

Furthermore, the superintendent of Distribution and Logistics at the ANP, Rubens Freitas, justified the proposal and reinforced: “We are not overloading economic agents. We are, solely, due to all these uncertainties, saying: we are going to stay for another three months with even smaller inventories than you [companies] have been doing, as in May, for example”.

Find out what were the main points changed in the ANP proposal to increase the mandatory volume in the stocks of fuel companies

After the announcement of the ANP's proposal, several fuel producing and distributing companies in Brazil spoke out against the agency's decision, among them are the largest refiners in the country (Petrobras and Acelen) and the leaders of the fuel distribution market (Vibra , Raízen and Ipiranga).

The main justification for the position contrary to the increase in inventories is that this requires an extra cost in the maintenance process and could impact the final values ​​of diesel derivatives. 

In this way, the ANP made the proposal more flexible and changed some points that may contribute to the acceptance of the companies. Among them is the decision that the mandatory nine-day volume of diesel stocks will no longer have to be verified weekly, but fortnightly. In addition, the calculation of fuel stocks now also considers those en route to the country, on merchant ships.

Finally, the trader will be able to store diesel on a distribution basis, based on a space assignment agreement approved by the ANP. In this way, the ANP seeks to alleviate the critical situation in the fuel sector and still maintain its decision to increase the mandatory volume in companies' inventories.

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