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RIO DE JANEIRO / SÃO PAULO (Reuters) – Under threat, Petrobras' daily resupply policy ends a year this weekend after being the linchpin of a historic truckers strike, but still finds support among industry representatives, who see price freedom as the main attraction of investment in petroleum refining
Announced by Petrobras' former president, Pedro Parente, on June 30, this directive was aimed at to give to the company
From one year to the next, petrol prices in the Petrobras refineries, without taxes, increased 40.8 percent at 1.9486 reais per liter, while those of diesel accumulated a maximum of 29 percent at 2.0316 reais, according to calculations of Reuters
from diesel, which was at heart of the protests of truckers, ended up laying ec the directive of the company and lead to the resignation of Parente. The ANP regulator has opened a public consultation that could determine the frequency of readjustments in the country
However, a free market-based fuel price policy is supported by distributors, service stations and specialists
"Without this realism, it will not be possible to make investments in the production, import and distribution of fuels, so that they can continue to be effectively released for consumption, "said Plinio Nastari, president Datagro and industry specialist
were observed in May, with gasoline reaching 2.0867 reais per liter and diesel, 2.3716 reais.At present, the values of diesel are frozen as part of a government subsidy program followed by Petrobras.
The fuel price appreciation occurred in the context of the dollar's rise relative to the r real ences and international oil prices. Petrobras, which has posted the highest quarterly profit since 2013, amidst higher oil prices, in the first three months of the year, due to factors such as a declining production pact led by OPEC and Russia. Petroleum, pointed out that in July 2017, there had been only a revision of the periodicity, and confirmed that the accumulated readjustments were due to changes in oil and exchange rates.
The state also said that an badessment should take into account the period since the establishment of the pricing policy in October 2016, which has so far recorded a rise of 13.8% of diesel refineries and 22.8% In places where fossil fuels are already sold mixed with percentages of biofuels, the figures have not advanced to end consumers with the same intensity as recorded In the refineries, Since July 2017.
According to the most recent data from the National Agency of Petroleum, Natural Gas and Biofuels (ANP), the average value of diesel (with added biodiesel) has increased by 15% to 3.377 reais per liter, gasoline (with added anhydrous alcohol) increased by 29.3 percent to 4538 reais, between July last year and last week – there There is no more recent survey this week.
"If that is the conclusion, only proves our thesis: the competition is still good, and the labor market is an extremely competitive market.The refining market is not competitive and we are need, "said the director general of the ANP, Decio Oddone, advocating a fuel price policy to accompany the international market in order to attract investors.
Leonardo Gadotti, president of Plural , an badociation that brings together major distributors, said that "the only part actually affected and sacrificed at the moment is distribution and resale."
However, he defended the policy of Petrobras. "Where there is a sacrifice, it is there that the market really works "and that this can help the oil company to attract partners in refining, already announced by the company, including
" The only way to 39, attracting l & # 39; investor do you have the free market. And with that you create competition in refining and production, it's competition in both ends, that yes, it's the market working in its fullness. "
The two largest companies in the sector, BR Distribuidora (Petrobras) and Raízen Combustíveis (Cosan and Shell joint venture) saw increases of 19.5% and 7.4% in the generation indicator adjusted cash flow in the first quarter, respectively.
Fecombustíveis chairman, Paulo Miranda recalled that the sector was heavily affected by the state's pricing policy, but he said he would support the readjustments of Petrobras as a means to stimulate refining and competition
"For us to reach the next step What is greater competition in the other links in the chain, must have this freedom , legal certainty, the government's de facto commitment that it will not interfere in the price, "he said.] Despite the praise and the demands of the representatives of the Industry for a free market, the ANP announced early June a public consultation to discuss the frequency of readjustments in fuels, which ends next Monday. The measure was one of the ways to respond to the clamor of truckers, who demanded, among other things, a greater predictability of the transfer.
Once the consultation is over, there are no new calendars for the eventual creation of a resolution that could determine According to Oddone Decio
However, for a source of Petrobras, one s & # 39; 39. is concerned about the government's position regarding the increase in fuel costs, since much of the perceived value of the items comes from taxes.
"It is up to the government to equate this in terms of taxes, to see how other countries are dealing with this price volatility … I do not see this discussion within the government, "said the source on condition of anonymity
. the discussion must be raised more strongly and must have clearer government action in this regard. "
The ANP consultation was soon compared to a government intervention in the market, but energy experts believe that some measure is needed to balance the market and, in fact, attract the Private investment in refining For example, Petrobras attempted to enter into partnerships in the sector without success
for example, Edmar Almeida, a researcher at the Energy Economics Group of the United States. UFRJ Institute of Economics, said any price volatility should not be pbaded on "The policy of daily readjustments is important, but to work, it would be important to align with complementary government initiatives to minimize the volatility of pumps and increase transparency in price formation. The legitimacy of politics vis-à-vis the population, "he said.
Former director of the ANP Helder Queiroz goes in the same direction, noting that the daily adjustments did not bring balance to consumers In the case of truckers, the policy made it more difficult to estimate freight costs for goods.
REINFORCED ETHANOL
Among the fuels, hydrated ethanol, a direct competitor of gasoline,
In addition to prices that rose 19.1% in pumps, to 2.92 reais per liter , according to the ANP, the factories also recorded record sales.
"This policy has always been a claim of the sector … We expect it to be maintained even with the consultation to review the periodicity of product readjustments, "said the Technical Director of Cana- da
. low price of sugar on the international market, this policy was the positive side, making this year's sugar cane harvest more alcoholic, "he added. On
The sugar cane industry was one of the most affected by the freezing of gasoline prices that existed in previous governments.
According to Rodrigues, Petrobras' readjustment policy has not yet generated significant investments in the sector, which currently focuses on short-term expenses.
According to Datagro's Nastari, Petrobras' "rate realism" has restored predictability to the sugar and ethanol industry.
"If we did not have a reality of
The consultant recalled that the most alcoholic mixture of this crop came precisely from a schedule established by the Petrobras
(By Marta Nogueira and José Roberto Gomes, with additional report by Rodrigo Viga Gaier)
Diesel has 4th consecutive fall per week and reduced R $ 0.20 d (19659043) Fuel Consumers still have not felt the drop of 0.46 R $ posts promised by the government
One month after the freezing of the price of diesel fuel in the refineries of Petrobras, in R $ 2,0316 a liter, fuel consumers have not yet felt the decline in $ 0.46 of jobs promised by the government to end the truckers' strike in May, according to a survey by the National Agency of Petroleum, Natural Gas and Biofuels last week (from 24/6 to 30 / 6).
Compared to the week before the truckers' strike, May 13-19, when the country's average diesel fuel cost
+ The average diesel price dropped by R $ 0.43, below the government target
R $ 3,595, the average decrease was R $ 0.20 in the week of 24/6 to 30/6, becoming R $ 3,389. The reduction, however, is already higher than the previous week, the fourth consecutive weekly decline. With regard to the first week of the strike, from 20/5 to 26/5, the decline was R $ 0.39, while prices skyrocketed with supply problems and s & # 39; They were R $ 3 788. In the second week of the strike, the price peaked at R $ 3,828.
Posts do not yet market the fuel with the discount promised Photo: Valeria Goncalvez / Estadão 54% because of the cost of sales of refineries, which corresponds to the performance of Petrobras; 25% related to taxes; 0.7% of the cost of biodiesel (10% blend); and 14% completion of distributors and resale, according to Petrobras data in the week of June 17 to 23.
+ Government informs Petrobrás, Ipiranga and Raízen of diesel sales
The largest price reductions were verified in the northern states of the country, but limited to Roraima's ceiling of R $ 0.39. Amapa practiced discounts of R $ 0.37, the same amount to provide in Amazonas. Prices in the region are expected to decline further on Sunday (1/7), when all three states will reduce the weighted average consumer price (PMPF) of diesel, used as a basis for ICMS. The PMPF will also reduce Sunday the Federal District, Goiás, Mato Grosso do Sul, Paraíba, Rio de Janeiro, Rio Grande do Norte, Roraima, Rio Grande do Sul, Sergipe and Tocantins, as published yesterday by the Official Gazette of 39. ;Union.
São Paulo and Espírito Santo, the first states to reduce the ICMS, were above the country's average price and lost 0.24 and 0.17 reais respectively during the week. The worst situation is that of Acre, which continues to drive up the price of fuel, losing only $ 0.03 on the pump, the liter of diesel being sold for $ 4,326. In Rio de Janeiro, the drop was 0.27 reais, the same number recorded in Rio Grande do Norte. WASHINGTON (Reuters) – US President Donald Trump on Saturday published on his Twitter account that Saudi King Salman accepted his request to increase oil production "perhaps up to 2,000,000 barrels" for offset the production of Iran and Venezuela.
The Saudi authorities have not yet manifested themselves
The world's largest oil exporters inject 11 million barrels of oil a day in July, according to a source in the oil industry after that OPEC has agreed with Russia and other oil producers to increase about 1 million barrels a day.
Trump said, "I just spoke to King Salman of Saudi Arabia and explained to him that because of the turmoil in Iran and Venezuela, I ask Saudi Arabia to Increase oil production, perhaps up to 2,000,000 barrels, To make a difference … He agreed! Kuwait will increase oil production by 85,000 barrels a day, according to the minister
RIAD (Reuters) – Kuwait will increase oil production by 85,000 barrels a day as of Sunday, as part of an agreement between OPEC producers and non-member countries. OPEC to increase the production of one million barrels per day of oil, said Saturday the Minister of Energy, Bakhit al-Rashidi, to the local newspaper
from tomorrow, to 2,785 million barrels, a daily increase of 85,000 compared to May, based on last week's cut deal re ", Rashidi told the Arab daily Al-Rai
. month, with Russia and other oil producing allies boosting July output of about 1 million barrels of oil a day.
The dollar rises for the fifth consecutive month and ends the semester 17% more expensive than the real
SÃO PAULO (Reu ters) – The dollar ended Friday at 3.90 reais, a level that has exceeded this month and forced the central bank to promote more intense interventions to try to contain volatility and provide liquidity to the foreign exchange market.
And nervousness must continue on the market in the second half, in the face of the indefinite national presidential election, fears of the US trade war with its partners, and the trajectory of high US interests.
The dollar rose 0.56% to R $ 3.777 on sales, accumulating an increase of 2.49% in the week.
The dollar finished the month of June with an appreciation of 3.76%, in the fifth month following the rise, accumulating in the first half of 2018 appreciation of 16.98 percent. After falling 0.43% in the first three months of the year, the dollar was 17.49% more expensive from April to June.
"I find it difficult that the dollar falls below 4 reais in the third quarter … The exchange rate bias is high, although in July, with the holidays in the northern hemisphere and holidays (Congress in Brazil) , the currency may continue to fluctuate around 3.80 reais, "said the chief economist of Banco Fator, From now on, polls should gain strength with the proximity of elections, which can increase the nervousness if, in fact, no candidate with the profile of the market, more reformist, wins
Investors will also continue to monitor the rhetoric of President Donald Trump on its trading partners, especially China, which has embittered the economy. atmosphere in the last few weeks. This scenario, coupled with the prospect of two higher interest rates in the United States, is bad for emerging markets as investors prefer lower risk badets.
We are still waiting for the Central Bank to act in July, and then for the strong intervention that has taken place in the foreign exchange market since mid-May. In August, $ 14.023 billion in traditional currency swap contracts, equivalent to the future sale of dollars, were due and the market was waiting for the announcement for the turnover of the contracts.
"The volume is important and the market is very sensitive, that the Central Bank will not roll this volume," said Spinelli brokerage operator Jose Carlos Amado.
The total swap stock was $ 67.414 billion and British Columbia President Ilan Goldfajn repeatedly said that
This week, however, BCB did not proceed with any new information. swap auction, after injecting the equivalent of $ 43.616 billion into these trades since May 14.
On Friday, the dollar spent the morning abroad, but the formation of the Ptax rate left the market more technical and volatile. The Ptax is a rate calculated by the Central Bank and serves as a reference for several foreign exchange contracts, which encourages investors to "fight" for the prices that interest them the most, resulting in greater reciprocity in the market.
The dollar has risen against the real with the outside, where the currency has also risen against the currencies of emerging countries.
"The first half is over and you should not miss it," said operator Alessandro Faganello.
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