terça-feira, 3 de abril de 2012

Brazil: The fuel dependency is ours

The increase of automobile fleet and the noncompetitive prices of hydrated alcohol are provoking a huge consumption of gasoline since 2011, what has obligates the country to broad the fuel importation and its dependency of the external market supply. The expectation of Paulo Costa, current Director of Fuel Providing Division of Petrobras, is that the gasoline fuel importation come up to a new record track level of 80.000 (bopd), which represents an increasing of 33,3% in relation to 60.000 (bopd) imported last year. The increase of consumption already had enforced the importation in 2011. The 60.000 bopd represented an increasing of more than six times in comparison to an average of 9.000 bopd imported in 2009, when Brazil left the self-sufficient condition on offering gasoline fuel after 40 years.
Petrobras refineries are working at full capacity since last year, with no conditions to increase the gasoline production significantly. Having in mind the gasoline importations from US, the Brazilian company ends up in losses. That is because Petrobras purchases the gasoline fuel from foreign market for a given price and sells it into domestic market by a cheaper price. Last year the difference of gasoline and diesel oil prices sold by refineries in relation to international prices resulted in a strong financial reflex to the company expenditures. The market just esteemed that the last year, based on discrepancy of fuel prices, Petrobras burden the losses and its revenue has dropped down to about USD$6.9 billion.Source:OGlobo,Translation:EGE

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