Rio de Janeiro, 29 August 2018
Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) will start using prices published by leading global energy and commodities price reporting and news agency Argus to set a government diesel subsidy.
ANP has announced that it will, from 31 August, adopt Argus delivered prices for diesel in the ports of Itaqui, Suape, Santos and Paranagua to calculate import parity prices as part of a formula that will also take into account local storage and logistics costs.
A countrywide truck drivers’ strike in May sparked by rising diesel prices led the Brazilian government to cap wholesale prices and offer temporary subsidies to diesel producers and importers. The subsidy programme ends on 31 December.
Argus Media chairman and chief executive Adrian Binks said: “We are delighted that ANP has decided to switch to Argus prices to support this important piece of regulation. Staff from our Rio de Janeiro office, which we opened six years ago, have been working with the government and market participants to develop pricing mechanisms suitable for their needs.”
About Argus Media
Argus is an independent media organisation with almost 900 staff. It is headquartered in London and has 21 offices in the world’s principal commodity trading and production centres. Argus produces price assessments and analysis of international energy and other commodity markets, and offers bespoke consulting services and industry-leading conferences.
Companies in 140 countries around the world use Argus data to index physical trade and as benchmarks in financial derivative markets as well as for analysis and planning purposes.
Argus was founded in 1970 and is a privately held UK-registered company. It is owned by employee shareholders and global growth equity firm General Atlantic.
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