Natural gas: 19% increase in the value of the product obtained by resellers is established by Petrobras

The readjustment in the price of natural gas will be valid from May 1st and is related to the price policy adopted by Petrobras

As disclosed by Petrobras this Friday, April 29, its natural gas sales prices to distributors will increase by approximately 19% in relation to the prices applied in the February-March-April quarter. This adjustment will take effect from May 1st and will remain in effect until July 31st, when there will be a new update.

The natural gas, which has received an explosion of investments by several companies, is the raw material for piped cooking gas and is also a source of the energy for multiple industrial sectors, so that the change promoted by Petrobras will be felt in the pockets of several Brazilian citizens.

The Brazilian Association of Large Energy Consumers and Free Consumers (Abrace) told Reuters last week that it estimated an increase of around 17% in the price of natural gas for distributors, which demonstrates that the 19% increase in The value of gas released by Petrobras was already close to expectations.

Petrobras associates the increase in the value of gas with the price of a barrel of oil on the world market and the exchange rate

According to Petrobras, the change in the price of natural gas is due to variations in Brent oil, the exchange rate and gas values, respecting the formulas agreed with the distributors and also following the import parity price (PPI) , adopted in 2016.

In a note, Petrobras also established that the update of gas prices every three months and the annual update for transport mitigate momentary volatilities and ensure predictability and transparency.

In addition, Petrobras also clarified that the final value of natural gas passed on to consumers does not depend only on the gas sales price determined by the company, but is also influenced by distributor margins and federal and state taxes. He also added that the approval of gas tariffs is carried out by state regulatory agencies, in accordance with specific legislation and regulation.

As for the gas consuming industry, Abrace predicted an impact of around 9% from the readjustment from May onwards.

Petrobras confirms sale of percentage in Deten Química to Cepsa for more than half a billion reais

Petrobras' share in Deten Química, a company located in the industrial center of Camaçari, which had already been announced since last year, will be sold to Cepsa for R$585 million, to be settled at the closing of the transaction. The sale carried out by Petrobras will include a deposit of 5% of the price – which corresponds to R$ 29,25 million –, to be deducted from the total as soon as there is the payment.

According to the virtual news vehicle Broadcast, Petrobras – that did business with TotalEnergies – announced that the negotiation with Cepsa regarding the percentage in Deten Química is subject to the execution of pre-established conditions, such as the approval of the Administrative Council for the Defense of Competition (Cade).

As disclosed by Petrobras, the value of the transaction for the portion in Deten Química does not take into account the adjustments that can be made until the deal is closed. The state-owned company, which is negotiating with Cepsa, declares: “This operation is in line with the optimization of the portfolio and the improvement of the company's capital allocation, aiming at generating value for its shareholders”. To know more, click here to access this article in full and stay on top of CPG news.