BR Distribuidora reveals impact of Brazilian truck strike
The Brazilian truck drivers' strike in May resulted in a loss of 200mn reais (US$53mn) for fuel distributor BR Distribuidora.
The impact of the strike was disclosed on Thursday during the firm's conference call on its second quarter results.
"The truck drivers' strike resulted in an impact of 20 reais per cubic meter [of fuel] due to the devaluation of our diesel stocks," Fábio de Lucena, the firm's executive manager for investor relations, said during the call
BR Distribuidora reported a net profit of 263mn reais in 2Q18, up 276% compared with the same period of last year. Revenues amounted to 23.6bn reais, which was a 21.2% year-on-year increase. However, the firm's sales volume totaled 10.1Mm3 between April and June, down 4.2% 2Q17.
"Even with the impact of the strike, we believe we already have a trend for improvement within the firm. We will suffer the impact in the diesel market, but it only represents 40% of our business. We're able to reduce corporative costs and improve our revenues, bringing better margins," Lucena added.
The national truck drivers' strike took place from late May to early June in protest at high fuel prices. In order to end the action, President Michel Temer agreed to enact subsidies for diesel. A decree signed by Temer on Wednesday extended the subsidies until at least the end of 2018, with monthly adjustments.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Oil & Gas (Brazil)
Spotlight: Brazil's 2024 offshore oil and gas exploration outlook
Petrobras and several private sector players have seismic and drilling campaigns planned for this year.
The firms vying for Brazil fertilizer plant's engineering contract
The plant to be built in Uberaba at a cost of around US$850mn will consume 2.5GWh of renewable energy annually.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Oil & Gas (Brazil)
Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: ROUND
- Current stage:
- Updated:
5 months ago
- Project: BOYFRIEND
- Current stage:
- Updated:
5 months ago
- Project: BT-POT-51
- Current stage:
- Updated:
5 months ago
- Project: SITTING STONE
- Current stage:
- Updated:
5 months ago
- Project: BM-C-8
- Current stage:
- Updated:
5 months ago
- Project: CREJOÁ
- Current stage:
- Updated:
5 months ago
- Project: SEAL-T-240_R10
- Current stage:
- Updated:
5 months ago
- Project: PAR-T-215_OP2
- Current stage:
- Updated:
1 year ago
- Project: CASTANHAL
- Current stage:
- Updated:
5 months ago
- Project: SWORDFISH
- Current stage:
- Updated:
5 months ago
Other companies in: Oil & Gas (Brazil)
Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Origem Energia S.A.  (Origem Energia)
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
- Company: Pollux, Part of Accenture  (Pollux)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Murphy Brazil Exploração e Produção de Petróleo e Gás Ltda.  (Murphy Brazil Exploração e Produção)
-
Murphy Brazil Exploração e Produção de Petróleo e Gás Ltda. (Murphy Brazil), established in 1998 in Rio de Janeiro, is the Brazilian exploration and production subsidiary of the...
- Company: Gulf Marine
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Parnaíba Gás Natural S.A.  (Parnaíba Gás Natural)
-
Parnaíba Gás Natural S.A., formerly OGX Maranhão Petróleo e Gás S.A., is a Brazilian exploration and production company that operates in the Parnaíba basin, where it has 8 field...
- Company: Grupo Dislub Equador
-
The description contained in this profile is taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine tran...
- Company: Brasdril Sociedade de Perfurações Ltda.  (Brasdril Sociedade de Perfurações)
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
- Company: Topsoe do Brasil Tecnologia e Serviços em Catalisadores Eireli
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...