08 November 2007 19:35 [Source: ICIS news]
HOUSTON (ICIS news)--Brazilian state-run natural-gas producer Petroleo Brasileiro (Petrobras) could raise prices 15-25% on average in 2008, according to a company official cited on Thursday in the local press.
Maria das Gracas Foster, head of gas and energy for Petrobras, made the comments in an interview with the Portuguese-language newspaper O Globo.
Brazilian energy demand has risen to the point where natural gas is needed to supply thermal power plants, and Petrobras was forced late last month to reduce deliveries to contracted levels to industrial consumers and residential gas distributors. Deliveries prior to the reduction had been over contracted levels.
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However, Abiquim continues to track the situation, since both natural gas and energy are important feedstock, the source said.
Local producer Bayer was briefly affected by the cut, according to industry sources, but an attempt for comment was not returned by company officials.
Brazilian President Luiz Inacio Lula da Silva opened on Thursday a meeting of the National Energy Policy Council at Petrobras headquarters in
On Wednesday, Lula said
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