Report on Operations
The table and the chart that follow present the data by quarter and show monthly trends for the current year and the previous year: 2008 full year
(1) (2)
9 months 2009
9 months 2008
% 3rd quarter change 2009
3rd quarter 2008
% change (40.5%)
97.0
Oil price in USD/bbl(1)
57.2
111.0
(48.5%)
68.3
114.8
1.47
USD/euro exchange rate
1.36
1.52
(10.3%)
1.43
1.50
(4.9%)
66.0
Oil price in euro/bbl
41.9
72.9
(42.6%)
47.7
76.3
(37.5%)
317.9
CCI euro/000 cm(2)
301.2
301.6
(0.1%)
239.3
328.9
(27.2%)
Brent Dated CCI: Wholesale Distribution Charge as set by Resolution No. 134/06 and updated by Resolution ARG/gas No. 192/08
140 120 100 80 60 40 20 0 January
February
March
April
May
June
July
August
September October
Brent Dated USD/bbl 2008
Brent Dated USD/bbl 2009
Brent Dated euro/bbl 2008
Brent Dated euro/bbl 2009
November
December
It is important to keep in mind that, because of the time gap with which the changes in the crude oil market discussed above are reflected in the natural gas pricing formula, the trend of natural gas prices can be significantly different. The rate component that corresponds to the Wholesale Distribution Charge (CCI) that is equal to 301.60 euros per thousand cubic meter in the nine months of 2008 and 301.20 euros per thousand cubic meters in the nine months of 2009, showing virtually no change, in the third quarter reports a decrease of 27.2%.
Quarterly Report at September 30, 2009
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