Petrobas announced this Monday an agreement with distributors to reduce the price of a cubic meter of natural gas by 8.1 % as of next May compared to the average value of the quarter between February and April.

The Brazilian oil company made this decision based on the variation in the price of the molecule and its transportation through pipelines. In turn, fluctuations in the Brent barrel and in the exchange rate are factors to be taken into account by both Petrobras and the distribution companies when updating the price of natural gas on a quarterly basis.

During the last quarter, oil fell in the order of 8.7 % and the exchange rate appreciated around 1.1 %. With this update, the price of natural gas sold by Petrobras to distributors will accumulate a reduction of approximately 19 % in the year.

However, this reduction will not be transferred directly to the final price paid by the consumer for natural gas, but this depends, in addition to the sale price set by the company, the supply portfolio of each distributor, their sales margins and the various federal and state taxes.

“The company points out that the update announced for the beginning of May does not refer to the price of liquefied cooking gas, bottled or sold in bulk”, Petrobras explained.

K. Tovar

Source: Notiamerica

(Reference image source: file)

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The most recent report from the UK Office for National Statistics puts the number of companies that have filed for bankruptcy between April and June at 5,629. The figure far exceeds that recorded for the same quarter between 2015 and 2019, when the pandemic appeared.

The high costs of services, including gas and electricity, affect this decision of certain companies to declare insolvency, according to the ONS. The bureau adds rising prices for raw materials as well as disruptions to supply chains.

During the time that the Covid-19 pandemic has lasted, the British government has been implementing packages of financial support measures not only for companies but also for citizens.

However, in the case of companies with a workforce of less than 50 workers, the hardships have increased. It is estimated that among the most affected sectors is manufacturing, construction and hotels.

In August, according to a survey carried out by the ONS, at least 11 % of companies indicated that they perceived a risk, between moderate and low, of falling into bankruptcy.

M.Pino

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Source: swissinfo

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