RIO DE JANEIRO, BRAZIL - As of May 1, distributors' natural gas sales prices will be 39% higher, in Reais per cubic meter (R$/m³), compared to the last quarter. Measured in dollars per million BTU, an energy unit used in the United States and the United Kingdom (US$/MMBtu), the readjustment will be 32%.
According to Petrobras' announcement, the variation is the result "of applying the supply contract formulas, which link the price to the oil quotation and the exchange rate." According to the company, the contract price updates are quarterly, and for May, June, and July, the reference prices . . .