Petrobras 2009 oil export report

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Mon, Feb 1, 2010

Heavy Oil Company News
Post by Melissa Pistilli, Heavy Oil Reporter

On Friday, Brazilian state-run oil company Petrobras (PETR4.SA)(PBR.N) announced that the company’s exports of oil and oil products in 2009 reached an average 705,000 barrels per day, up 4.8 percent from 2008.

The press release is quoted as saying:

Exports of oil alone rose 8.9 percent to 478,000 barrels per day. The increase in exports contributed to a trade surplus of 156,000 barrels per day, the equivalent of $2.87 billion, compared with a deficit of $927 million in 2008, Petrobras said in a securities filing. The company normally exports heavy oil while it imports lighter crude to be processed in Brazil.

Click here to access the entire press release

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