Petrobras reduced the price of natural gas by 11.1% from November to January

Petrobras reduced by 11.1% per R$/m3 the natural gas transported and distributed by pipelines from November 2022 to January 2023. The state-owned company's natural gas readjustments are quarterly and comply with contracts with the distributors.

"These contracts provide for quarterly updates and link the variation in the price of gas to the oscillations of Brent oil and the exchange rate.

During this period, oil prices fell 11.9% and the exchange rate depreciated 0.2%," the state-run company said in a statement.

There was also, as foreseen in the contracts signed at the end of 2021 and in force from 01/01/2022 to 12/31/2025, a reduction in the pricing formula, which went from 16.75% of Brent to 14.40% of Brent.

Petrobras also pointed out that the final price of natural gas to the consumer is not only determined by the company's sales price, but also by each distributor's supply portfolio, as well as by their margins (and, in the case of NGV, those of the resale stations) and by federal and state taxes.