Brazil Exports 620,000 Oil Barrels a Day, a Record

Petrobras building in Rio, Brazil Brazil's state-controlled oil and gas multinational Petrobras exported in December 2008 an average of 620,000 barrels of crude per day, establishing a new record. "The new record was 46,000 barrels per day more than the previous one set in October 2008 and which totaled 574,000 barrels per day," Petrobras said in a release.

Though state-controlled, Petrobras is a public company whose shares trade on the SΓ£o Paulo, New York, Madrid and Buenos Aires stock exchanges.

December's oil exports contributed US$ 574 million to Brazil's trade balance, the company said. The main destination of Petrobras exports in December was the United States, with 63% of the total, followed by Europe with 21.4%.

Petrobras produced in November – the last month for which figures are available – an average of 1.84 million bpd, an increase of 4.6% over the same period in 2007.

The bulk of Petrobras' production is used in Brazil, which with 186 million inhabitants and a strong emerging economy is the world's 10th biggest consumer of energy.

Brazil's recent offshore discoveries of oil and gas along its southern coast, but at depths of over 5.000 meters and for which technology is still too expensive, could turn the country into one of the world's leading oil producers and exporters.

Farm Exports

Brazilian farm exports totaled also a record US$ 71.9 billion in 2008, up 23% over 2007, according to the latest reports from the Ministry of Agriculture. Farm exports reported a surplus of US$ 60 billion last year while agrobusiness represented 36.3% of all of the country's shipments.

"The good performance of exports in 2008 was a consequence of the increase in revenue originated in the sale of the main items of the sector's trade balance," said a release from the Brazilian Agriculture ministry.

The so called "soy complex" (oil plus beans) increased 58%; beef and other meats was up 29% and coffee, 22%. The soy complex leads exports with 18 billion US dollars followed by meats, 14.5 billion.

The Ministry also underlined the 80% revenue increase in dairy produce exports which climbed from 299 million US dollars to 541 million, given the huge surge in prices.

Mercopress

Tags:

  • Show Comments (2)

  • Pbvt

    Why then is gasoline in Brazil nearly $4.USD a gallon? πŸ™

  • ch.c.

    That is good, very good !
    Keep producing more, far more !
    That will close the mouth of OPEC.
    And that will also close yours because more production does not equal to HIGHER prices !
    Sadly…for you all !
    Hopefully Brazil will become an OPEC member (short memory ?) and we will see when BRAZIL WILL AGREE TO REDUCE SHARPLY
    ITS OUTPUT…TO SUPPORT THE OIL PRICES !

    Hmmmmm
    πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazilian protests explained. It’s not the economy, stupid

Brazil isn’t for beginners. No matter if you are a Brazilian or not, it ...

Brazil, a Superpower in Cookie Consumption, Just Behind the US

Brazilian cookie exports totaled US$ 114 million last year, which represented growth of 24.5% ...

A Little Lesson on the Make-Believe World of Brazilian Elections

The Brazilian ruling party, the PT (Workers Party) announced its candidates on April 24. ...

150 Brazilian Army Engineers to Rebuild Haiti’s Infrastructure

A Brazilian Army’s engineering company, integrated by 150 military officers, will embark on June ...

RAPIDINHAS

Brazilians have been chosen once again as the world champions of sex. The latest ...

Brazil Finds Out that Strengthening Trading Companies Is Good for Country

Launched in April by the Brazilian Export and Investment Promotion Agency (Apex) the Trading ...

Hyperbole & Reruns

Economic growth might have been higher in 2001 had the government completed various key ...

Norway’s Northern Oil Buys Offshore Oil Licenses in Brazil

Vancouver-based Naftex Energy Corporation announced yesterday that Norway’s Northern Oil, its parent company, has ...

Carla Vicentini, Brazilian missing in Newark

After Over Two Months Disappeared Brazilian Girl in the US Still Missing

Today, April 26, Brazil’s Minister of Justice, MΓ‘rcio Thomaz Bastos, will meet with Orlando ...

Brazil’s Vik Muniz: You Can’t Pin Him Down

Worst Possible Illusion, a documentary on Brazilian artist Vik Muniz, takes us on a ...