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Brazil’s Energy Giant Cuts Natural Gas Prices By 11%

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Petrobras will cut the price of natural gas for its customers by 11.1% from February 1 compared to the November-January period due to lower international oil prices and depreciation of the Brazilian currency, Brazil’s state-held oil and gas firm said on Tuesday. Petrobras updates the price of natural gas on a quarterly basis and takes into account the price of the international crude oil benchmark, Brent Crude, as well as the foreign exchange rate for the Brazilian reais.   Over the past three months, oil prices dropped by 11.9%. Meanwhile,…

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