Petrobras Posts Record Output as US Oil Exports Hit Zero
Petrobras reported record first-quarter oil and gas output as it continued developing the Buzios offshore field and ran its refineries near full capacity, highlighting Brazil’s growing role in energy markets disrupted by the Iran war. Oil and gas production rose 16% from a year earlier to 3.23 million barrels of oil equivalent per day, while refinery utilization reached 95% and in March hit its highest monthly level since 2014, easing the need for fuel imports.
The company also cut oil exports to the US to zero in the first quarter, while China widened its lead as the top destination for Petrobras crude.
From the sources (2 posts)
@staunovoBrazil's Petrobras cuts US oil exports to zero in Q1, China widens lead as top destination #oott
@staunovoPetrobras pumped record oil and gas volumes in the first quarter and ran its refineries near full capacity, underscoring Brazil’s growing importance to global energy markets disrupted by the Iran war. Oil and gas production rose 16% on yea