Brazil to resort to importing fuel to avoid shortages in November

Brazil must resort to increasing fuel imports to avoid national shortages in November. A warning sounded in the market after the Brazilian oil company Petrobras announced this week that it will not be able to fulfill all orders received for gasoline and diesel next month.  Demand exceeds supply capacity by 10% and 20%, respectively.

Despite being self-sufficient in the oil sector, Brazil is an exporter of crude oil and an importer of derivatives such as gasoline and diesel. About 80% of the domestic consumption of oil products is supplied by domestic refineries, almost all belonging to Petrobras, and the remaining 20% ​​is resolved through imports. Arab countries like Saudi Arabia, Algeria, and Iraq supply oil products to Brazil.

Petrobras itself announced this week that the additional demand for derivatives may be absorbed by importing companies.

Source: ANBA – Brazil-Arab News Agency

To read the full original article, visit the link:

https://anba.com.br/brasil-deve-recorrer-a-combustivel-importado/

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