Petrobras (PETR4) confirmed on Friday (5) that it extended from quarterly to annual the limit period used in the application of its fuel price policy, but defended that it continues to practice values in line with import parity.
Because of this, Ativa Research issued a note saying “see that the extension of the term for calculating parity, as well as any noise that refers to the extension of the lag between the prices practiced internationally and those of the company ends up being negative”.
And he said more: “we believe that the optimal decision on pricing your portfolio should be up to Petrobras alone. We emphasize that it has been trying to employ and assimilate relevant changes in its culture, adding transparency, predictability and confidence in the objective of maximizing the generation of value for its shareholder. ”
Ativa pointed out that the transmission of noise, as such, distances the company from success in its trajectory, and makes the reduction of the discount for which it transacts before its global peers more distant and improbable.
The oil company, on the other hand, issued a note saying that "in this way, in a given quarter domestic prices may eventually be below the import parity price as long as this difference is more than offset in the following quarters".
The company's statement comes after Reuters anticipated, with information from sources, that the deadline for calculating parity by the state-owned company had been changed from three months to one year.
"Petrobras reinforces its independence in determining fuel prices, following the alignment with international markets," added the state-owned company in the statement.
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