Petrobras reports on 2009 oil and derivatives exports
Brazilian state-run oil company Petrobras said its exports of oil and oil products in 2009 reached an average 705,000
bpd, up 4.8 % from 2008. Exports of oil alone rose 8.9 % to 478,000 bpd.
The increase in exports contributed to a trade surplus of 156,000 bpd, the equivalent of $ 2.87 bn, compared with a
deficit of $ 927 mm in 2008, Petrobras said in a securities filing.
The company normally exports heavy oil while it imports lighter crude to be processed in Brazil.
"This performance reflects primarily (the rise in exports)... mainly due to the increase in the total oil production
in Brazil and to the 23 % decrease in the total imported oil products, especially diesel," Petrobras said.
The figures do not include data on natural gas, liquefied natural gas and nitrogenated products. Diesel imports fell
43 % from 2008 due to an increase in local production and to a drop in domestic demand.
Earlier this month, Petrobras said domestic oil output in 2009 rose 6.3 % from the previous year.
