Petrobras said on Thursday (30) that the court injunctions suspending natural gas price increases undermine “legal security” and threaten the government’s efforts to open up the national energy market and attract private investment.
Petrobras said in a statement to the market that it was officially notified of injunctions issued by a court in Rio de Janeiro blocking the increase in prices for customers in the state.
The injunctions of the Justice of Rio affect the contracts between Petrobras and the state gas distributors CEG and CEG RIO.
State courts in Ceará, Sergipe and Alagoas issued similar orders blocking the increase in the price of natural gas in contracts with distributors in those states, according to the statement from the oil company. The court orders were announced for the first time this Tuesday (28).
“These decisions undermine the legal security of the business environment,” said Petrobras.
“These [ordens] hinder the practices of the free market, putting at risk the implementation of the opening of the natural gas market in Brazil and the attraction of investments for the country.”
Petrobras said it would try to overturn the injunctions, which prevent the proposed price increases from taking effect in January.
Petrobras said the price increases are justified amid high global demand for natural gas and supply constraints that caused international prices to rise about 500% in 2021.
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