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The Adjustment in the Price of Natural Gas Will Be Valid Starting May 1 and Is Related to the Pricing Policy Adopted by Petrobras
As disclosed by Petrobras this Friday, April 29, its sale prices for natural gas to distributors will increase by about 19% compared to the prices applied in the February-March-April quarter. This adjustment will take effect starting May 1 and will remain in effect until July 31, when another update will occur.
Natural gas, which has seen an explosion of investments from various companies, is the raw material for piped cooking gas and is also a source of energy for multiple industrial sectors, such that the change introduced by Petrobras will be felt in the pockets of many Brazilian citizens.
The Brazilian Association of Large Energy Consumers and Free Consumers (Abrace) stated to Reuters last week that it expected an increase of about 17% in the price of natural gas for distributors, which shows that the 19% increase in the gas price disclosed by Petrobras was already close to expectations.
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Petrobras Links Increase in Gas Price to Global Oil Barrel Prices and Exchange Rate
According to Petrobras, the change in the price of natural gas is due to the variations in Brent oil, the exchange rate, and gas prices, respecting the formulas agreed upon with distributors and also following the import parity price (PPI), adopted in 2016.
In a statement, Petrobras also established that the update of gas prices every three months and annually for transportation mitigates short-term volatilities and ensures predictability and transparency.
Moreover, Petrobras clarified that the final price of natural gas passed on to consumers depends not only on the sale price of the gas set by the company but is also influenced by the margins of the distributors and federal and state taxes. It also added that the approval of tariffs on gas is carried out by state regulatory agencies, in accordance with specific legislation and regulation.
Regarding the gas-consuming industry, Abrace projected an impact of about 9% from the adjustment starting in May.
Petrobras Confirms Sale of Percentage in Deten Química to Cepsa for Over Half a Billion Reais
Petrobras’ stake in Deten Química, a company located in the Camaçari industrial hub, which has been announced since last year, will be sold to Cepsa for an amount of R$ 585 million, to be settled upon the completion of the transaction. The sale by Petrobras will include a 5% deposit of the price – which amounts to R$ 29.25 million – to be deducted from the total as soon as the payment.
According to the virtual news outlet Broadcast, Petrobras – which has conducted business with TotalEnergies – announced that the negotiation with Cepsa regarding the percentage in Deten Química is subject to the fulfillment of pre-established conditions, such as the approval of the Administrative Council for Economic Defense (Cade).
As disclosed by Petrobras, the transaction value for the stake in Deten Química does not take into account adjustments that may be made until the deal is finalized. The state-owned company, which is negotiating with Cepsa, states: “This operation is aligned with the optimization of the portfolio and the better allocation of the company’s capital, aiming to generate value for its shareholders.” To learn more, click here to access this article in full and stay updated on CPG news.
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