Petrobras slashes gas prices in response to crude rout, receives negative outlook

摘要

Petrobras has slashed the sales price of natural gas for Brazilian distributors by more than a third in response to the oil price crash, although the move might not lift gas demand as the Brazilian NOC reported Q1 gas sales falling due to the Covid-19 pandemic. Running parallel, Fitch Ratings has revised Petrobras’ outlook to negative, despite the firm exporting a record volume of crude in April.