Brazil seeks to cut Petrobras gas waste-report
Brazil's government is considering measures to reduce the waste of natural gas at state-controlled oil company Petrobras' (PBR.N) platforms, as demand for the fuel is rising in the South American country, O Estado de S. Paulo newspaper reported.
The oil and energy regulator, known as ANP, is mulling a series of measures that could increase Petrobras' gas waste-related costs, encouraging the company to sell the gas that comes out of its offshore wells or re-injecting it to optimize crude output, Estado said.
ANP councilors are also gauging additional payments that Petrobras would be forced to make to lower gas waste, the newspaper added. The Rio de Janeiro-based council declined to comment on the Estado story.
The aim of the measures is to reduce what the ANP sees as unnecessary gas burning, Estado noted. Last year Petrobras burned about 9.4 million cubic feet of gas a day, a volume equivalent to natural gas consumption in the state of Rio de Janeiro -- one of Brazil's most populous, Estado said.
Natural gas that comes from oil wells is typically known as associated gas, and Petrobras pays some type of royalty on it.
[Source: Reuters, 08Jul10]
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