Brazil's Petrobras to offer price reduction mechanism for natgas distributors
May 10 (Reuters) - Brazilian state-run oil firm Petrobras approved new commercial arrangements for natural gas sales that could reduce its price to distributors by up to 10%, it said on Friday.
In a statement released on its website, the oil giant said it will offer a "price reduction mechanism" for current natural gas contracts, according to their performance.
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"With this new mechanism, depending on the contracts and volumes handled, distributors will have an additional reduction of up to 10% in the price (of gas)," Petrobras added, saying the average price of its natural gas fell by 25% since the start of 2023.
For independent consumers, Petrobras said it will offer a new portfolio of products under more customized and competitive conditions.
(Reporting by Peter FrontiniEditing by Chris Reese and Chizu Nomiyama)