According to Petrobras, Natural Gas Prices Should Drop in August

According to the Petrobras Director, measures such as the regulation of distribution, free consumers, and new producers will help lower gas prices.

Petrobras is finally beginning to see results in its strategy for cheaper gas for the Brazilian consumer. According to a statement from Petrobras’ Executive Director of Refining and Natural Gas, Anelise Lara, during a webinar hosted by IBP on Thursday (June 25). ANP estimates nearly 100 decommissioned platforms by 2025.

Read Also

• 65 job openings for Electricians and Assistants in public network maintenance activities in Salvador, BA
• Welders summoned for job vacancies in Itatiaia, Rio de Janeiro
• Oil and gas contracts in RJ require CV registration for technicians, engineers, designers, and more today

The imported LNG will compete with local LNG due to declines in international prices, which will lead to “competition” in the market and consequently lower prices for consumers.

Recomendado para você

Oil and Gas

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

The Technical Agenda and the Fair in the City of Macaé Should Boost Discussions on Investments, Energy Transition, and Development of the Oil, Gas, and Energy Chain in the National...

Paulo Nogueira

1

According to the Petrobras Director, measures such as the regulation of distribution, free consumers, and new producers will help lower gas prices. Only in this year of 2020, the price of gas in dollars has already accumulated a decrease of 36%, largely due to decreased demand, reaching a value of US$ 6 to US$ 6.5 per million BTU in May.

The public calls in the gas transportation sector, essential to boost the sector, are expected to occur between the second half of this year and the first half of 2021. This is because the pandemic caused the cancellation of 01R/2020, related to the Brazilian Transporter Bolivia-Brazil Gas Pipeline (TBG) and others that should be coordinated by TBG and Nova Transportadora do Sudeste (NTS), not counting one from the Associated Gas Transporter (TAG) and a possible additional call from TBG.

Petrobras aims to reduce risks and avoid instability in the sector with regulation, thereby attracting investments. Regarding new investments from the state-owned company, it was stated that the investment decision in infrastructure that could enable a greater supply of this gas is directly related to the feasibility studies of E&P projects, which “need to be viable in a scenario of oil prices and considering updated macroeconomic assumptions,” she completed.

Basically, there are two types of quotes for a barrel of oil: WTI (West Texas Intermediate), which is quoted on the New York Stock Exchange and is the main reference for the American market, and Brent, which is listed on the London Stock Exchange and is the main reference for this commodity in the European market.

The WTI corresponds mainly to oil extracted in the Gulf of Mexico and Brent, in the North Sea as well as in the Middle East.