New oil market can expand China trade-Petrobras

Petrobras seeks to expand its trade with China, the largest global importer, with the new niche market, an oil called the "medium-Sweet Grade" which, according to state sources, can be shipped from October to that country.

Brazilian oil SA has the intention to start the pumping of the oil production of the pre-salt of the new platforms in the fourth quarter, which would consequently increase production and consolidate as the largest producer in Latin America, raising its Exports.

The new offer can expand Brazil's market share in China, as buyers have cut oil imports from the United States after the Beijing announcement that it will set tariffs on American oil in retaliation for the measures Similar to Washington.

In April, Petrobras started production in the Buzios area, located in the Santos Basin, with the P-74 platform. In the fourth quarter, two more platforms will come into operation, also in the region of Buzios, making total production, up to the year 2021, equivalent to 750,000 bpd.

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