Petrobras, YPFB Extend Gas Talks to November 10
Brazil's federal energy company Petrobras (NYSE: PBR) and Bolivia's state oil company YPFB have agreed to extend the period for renegotiating their gas export contract by 30 days to November 10, YPFB and Petrobras said in separate statements.
The companies had previously agreed to a 60-day extension that lapsed this week and now aim to establish an export price within the new extension.
YPFB does not foresee another extension to the negotiations, a company spokesperson told BNamericas.
The Morales administration has said the export price to Brazil of US$3.6/MBTU is too low, while Petrobras has maintained that Brazilian consumers would not accept an increase.
By comparison, Henry Hub gas prices are above US$5/MBTU as is Bolivia's newly negotiated gas export price to Argentina.
Brazil imports some 24Mm3/d from Bolivia through the B2B pipeline.
Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.
- Petrobras Sells Rights in 37 Oilfields for $823MM (Nov 28)
- Brazil Subsea Pipeline Project Goes to McDermott (Nov 21)
- Petrobras FPSO Achieves First Oil (Oct 24)
Company: YPFB more info
- Bolivia Seals Exploration Deal with Gazprom, Total (Aug 02)
- Argentina's Chubut Province Gives YPF 7-Day Ultimatum (Mar 02)
- Petrobras Amends Natural Gas Purchase Agreement with YPFB (Dec 21)