Petrobras predicts stable exports in 2021

Thanks to a strategy of increasing shipments to destinations other than China, Petrobras’ oil exports this year should be in line with last year’s volumes, even in the face of a drop in sales to the Asian giant, said the state-run oil company in a note this Monday.

China, however, remains an important destination in Petrobras’ portfolio, according to the company, along with India and the United States.

Last year, the company’s oil exports totaled 713,000 barrels of oil per day (BPD), up 33% compared to 2019. In the first half of this year, shipments totaled 628,000 BPD, down 16% compared to the same period in 2020.

“Due to prospecting work started more than five years ago at the company, there was an increase in oil exports to Europe, India, and the United States, proving the company’s successful strategy of developing other markets to ship its products,” said the oil company, in the note.

“Following this pace, we expect that the volume of oil exported by Petrobras in 2021 will be in line with the volume of 2020, even with the recent 33% retraction in sales to China.”

Source: Portal Marítimo

To read the full original article, visit the link: https://portalmaritimo.com/2021/08/09/exportacoes-petrobras-preve-um-2021-estavel/

Sharing is caring!