Brazil: Exports to Exceed Imports in 2014

Posted by Joseph Keefe
Tuesday, May 20, 2014

Brazil will export more crude oil in 2014 than it will import, Magda Chambriard, director general of Brazil's oil regulator, the ANP, said on Tuesday.

If her prediction comes true, the oil-trade surplus will be Brazil's first since 2012, when the country exported $20.3 billion of crude oil and imported $13.4 billion, according to Brazil's commerce and trade ministry.

Brazil had an oil trade deficit in 2013, importing $16.3 billion of crude oil and exporting $13 billion, the ministry said on its website.

As most of Brazil's oil output is heavy crude oil and its refineries operate best with light crude, Brazil exports domestic oil to buy lighter, imported grades.

Chambriard, who spoke at an event in Sao Paulo, did not say if Brazil would have a deficit or surplus in refined products such as gasoline and diesel fuel. Fuel imports have been rising as the country's fuel demand outstrips the ability of refineries to meet it.


Reporting by Leonardo Goy and Jeb Blount


Tanker Trends

Big Tankers' Need for Retrofit Slows Use of New Panama Canal

The promise that some oil traders and brokers saw for an expanded Panama Canal to become a new route for large tankers will take longer to realize than expected

Pressure Mounting on VLGCs Rates - Drewry

A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

Russian Tanker Detained in Malaysia

The Malaysian Maritime Enforcement Agency (MMEA) detained a Russian oil tanker Zolotoi Most along with 25 crew members for anchoring off Tanjung Piai without authorization,

Finance

Singapore's SembMarine to Take Full Control of PPL Shipyard

Singaporean rig builder Sembcorp Marine Ltd said it had agreed to buy the 15 percent of PPL Shipyard Pte Ltd it did not already own for about $115 million from

Pressure Mounting on VLGCs Rates - Drewry

A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

Investors to Acquire $1.5 bln Shipping Portfolio from NORD/LB

NORD/LB Norddeutsche Landesbank and KKR Credit have reached an agreement by which, subject to completion of certain conditions precedents, KKR Credit, together

Energy

MISC Enters Thai Offshore O&G Market

Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.

Pressure Mounting on VLGCs Rates - Drewry

A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

China Receives First American LNG Cargo

The first cargo of US liquefied natural gas (LNG) to target the world’s largest energy consumer arrived Monday at the Chinese port of Yantian in Shenzhen near Hong Kong.

Fuels & Lubes

MN100: Klüber Lubrication NA LP

The Company: Klüber Lubrication is one of the world’s leading manufacturers of specialty lubricants, offering high-end tribological solutions to virtually all industries and markets worldwide.

MN100: FloScan Instruments, Inc.

The Company: FloScan designs and manufactures Fuel Monitoring Systems for use on a wide range of diesel powered commercial vessels on every continent including ocean-going,

Tanker Market: ‘New Normal’ Drives Downbeat Summer Sentiment

The tanker market is forecast to see challenging conditions with technical and structural factors impacting earnings, according to independent research and consultancy

Government Update

Portland Auto Exports Drive ConnectOregon Grant

The Oregon Department of Transportation has awarded a ConnectOregon grant of $2.6 million to the Port of Portland along with tenant Auto Warehousing Co. to fund

TSA Boosts Maritime Security in a Big Way

Though most visible to the general public for its work at America’s airports, the U.S. Transportation Security Administration (TSA) also helps to secure the country’s

Riyadh MOU PSC CIC on Pilot Transfer Arrangements

Six (6) countries (Bahrain, Kuwait, Qatar, Saudi Arabia, Oman and UAE) of the Riyadh MoU in the Gulf Region are planning the following PSC Concentrated Inspection

Logistics

Portland Auto Exports Drive ConnectOregon Grant

The Oregon Department of Transportation has awarded a ConnectOregon grant of $2.6 million to the Port of Portland along with tenant Auto Warehousing Co. to fund

TSA Boosts Maritime Security in a Big Way

Though most visible to the general public for its work at America’s airports, the U.S. Transportation Security Administration (TSA) also helps to secure the country’s

Indian Shipping Seeks Road Fund for Development of Waterways

The Shipping Ministry of India has mooted a proposal to utilize part of the fuel cess collected for building national highways for expansion of National Waterways as well.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1673 sec (6 req/sec)