FILE PHOTO: General view of Brazil's Petrobras P-66 oil rig in the offshore Santos Basin in Rio de Janeiro, Brazil September 5, 2018. REUTERS/Pilar Olivares/File Photo
China also took advantage of the lowest oil prices in decades to fill up strategic storage.”If we had more oil available, China would buy it,” Petrobras Chief Executive Roberto Castello Branco told Reuters in a written response to questions. Asia imported an average of 1.07 million barrels per day of oil from Brazil in the first half of the year, 30% year-on-year hike, according to Refinitiv Eikon’s trade flows data.
Petrobras is confident that the quality of its oil will enable it to defend its enlarged market share in Asia even as global producers begin pumping more oil. Brazil’s rise came as rival Latin American producers ceded ground. Asia’s crude imports from sanctions-hit Venezuela fell by 35% in the same period, while purchases from Mexico dropped 9.5%, the data showed.
Brazil's 'Lula' crude is slowly replacing Venezuela's Merey and Mexico's Maya crudes as the flagship grade from Latin America in Asia. Why Call Brazilian crude oil Lula? Fake News. Petrobras while in his adm promoted the world's largest scum, petrolao.
O BR deixa de atender demanda nacional e exporta petróleo em espécie a preço de banana para países estrangeiros com moeda mais forte. Dolar na casa dos 6 reais, leilões inconsequentes de estatais estratégicas, banco central refém do capital financeiro e povo sem poder de compra.
Brazil be increasing COVID shipments to Asia, you mean?