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Petrobras Reaches Oil Export Record in April

Source: www.gulfoilandgas.com 5/4/2020, Location: South America

Petrobras informs that it exported 1 million barrels of oil per day in April. This represents a new oil export record and contributes to strengthening the company's cash flow. The previous record was 771 thousand barrels per day, set in December 2019.

The result occurs in a challenging period of the world economy, with high reduction of global oil and oil products demand, caused by the outbreak of new coronavirus (COVID-19). Due to the strong contraction of the national market, Petrobras is directing efforts to export its production, after meeting domestic demand.

“We are attentive to international movements and accessing all markets. Our oil, which is low sulphur, maintains its value in the international market due to the specifications of IMO 2020 ”, informs Anelise Lara, Chief Refining and Natural Gas Officer at Petrobras.

The volume exported in April is 145% higher than that sold internationally in April 2019. The growth follows the trend observed in the first quarter of 2020, when there was an increase of 25% in relation to the previous quarter (4Q19).

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