Gasoline Exports Exceed Imports in Brazil For The First Time Since 2021

Brazilian gasoline imports dropped by 64% in October to 271,900m³, reflecting a slowdown in domestic demand. Gasoline exports from Brazil reached their highest level in three years, reaching 439,430m³, surpassing imports for the first time since December 2021.

The United States was Brazil’s leading trading partner in exports and imports: American fuel shipments represented half of Brazil’s imported volume, and the country received nearly 89% of Brazilian exports.

The data comes from the Ministry of Industry, Foreign Trade, and Services (Mdic), based on a survey by Argus, an energy and agriculture analysis company.

Diesel imports from the United States amounted to almost the same volume as the product from Russia in October, when 1.02 million m³ landed in Brazil, according to the Ministry of Industry, Foreign Trade, and Services (Mdic) data. The volume for the month represents a 17% drop compared to October 2022 and marks the lowest level since October 2020.

The decline occurred amid an increase in diesel production at Petrobras refineries and a reduction in imports of Russian products. The Russian government temporarily suspended petroleum product exports in September, affecting the volume of imports in Brazil in October.

The suspension led the United States to regain market share in Brazil, reaching 42% of the total volume, in line with Russia‘s share of 42.1% this month. The United Arab Emirates and Kuwait accounted for 9.9% and 6.1% of the imported diesel volume, respectively.

Production of S-10 diesel

Petrobras’ production of S-10 diesel reached a new record in October, reaching 2.38 million m³, surpassing the previous record set in July. Notable in Petrobras’ refining park are production records at the Paulínia Refinery (Replan) in São Paulo, with a mark of 645,000 m³, and at the Duque de Caxias Refinery (Reduc) in Rio de Janeiro, with a volume of 163,000 m³.

S-10 diesel has a maximum sulfur content of 10 parts per million and is a more modern and sustainable product with higher added value and less environmental impact.

Source: Monitor Mercantil

To read the original publication, click on: https://monitormercantil.com.br/exportacao-de-gasolina-supera-importacao-pela-1a-vez-desde-2021/

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