Pre-salt oil national participation rises in refining

Petrobras has elevated the national oil participation in cargo processed in their refineries with the growth of production in the pre-salt layer, where it is possible to extract a better quality oil in other producing areas, reported the State on Friday in a teleconference to comment on the results of the third quarter.
The slice of petróleo brasileiro 6% load increased by around the year-to-date through the end of September, compared with the same period in 2015, according to Petrobras.

From January to September, the national oil participation in 91% of the total load hit processed, while in the third quarter was the 93% of the total, marking the fourth consecutive quarter of increase.
High asset optimization logistics favored added Petrobras.
On the other hand, there was a reduction in refinery utilisation factor of 93% in the third quarter of 2015 to 80% in the period of three months until September 2016, since there was a drop in production of more than 10% between one period and another, in the face of economic recession that affected domestic consumption and higher imports by country.

Petrobras can do more than an adjustment of fuel prices in a period of a month, depending on the volatility of variables such as oil prices and exchange rates, which are taken into account in the new company policy, admitted on Friday the Director of refining and Natural gas, Jorge Chang, in a teleconference with investors, when questioned on the subject.
Chang recalled that new pricing policy announced in October provides for the practice of evaluation of a possible rate increase at least once a month, which does not prevent that the Executive Group of market and Prices the company performs more than one rate increase in a month.

He was responding to a question about the impact of the dollar, which has risen strongly over the past two days, the decision to carry out a new adjustment.

Last Tuesday, the company returned to reduce its gasoline and diesel prices, citing a fall in its market share amid growing imports by competitors.

The new price of Petrobras has been celebrated by the market, as it gives more transparency on a division of the company that suffered strong political interference of the partner controller in the past, with consecutive losses.

Active low
The directors of Petrobras were also questioned about possible impact of delays in projects for the State’s future production, who made a billion-dollar writedown in the third quarter, resulting in net loss of 16.5 billion dollars in the period.

Of the total casualties, 2.8 billion reais refer to problems with equipment linked to the activity of production of oil and gas, mainly by uncertainty in the delivery of hooves to the platforms P-71, P-72 and P-73.
Of these three platforms, only the P-71 is on the horizon of the investment plan, with production expected in 2021, according to Petrobras.

But state executives said that this delay in P-71 does not impact the production, since there is the company time to find alternatives.

In the case of the other two platforms, they won’t get in on the operation period for the plan, and so there is no impact.


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