Low refining harms Petrobras plans

Lenny Rodriguez, manager of oil price analysis and regional outlook at consulting firm S&P Global Platts, said the drop in refining could hurt Petrobras' plans. According to Lenny, one of the major challenges the state faced in completing its plan to sell eight refineries was the global downtime for refining. Still according to him, however, (suggestion) later this year the sector will continue in recovery with increased demand for diesel.

According to Ashutosh Singh, production analysis manager at the consultancy, the country is considered one of the main destinations for investments in deepwater projects in the world, "we see a strong allocation of capital in Brazil, the country is in a unique position for production growth for a few years. This is making Brazil a very attractive oil exporter," he said.

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