56% Boost in Brazil Oil Exports

56% Boost in Brazil Oil Exports

Brazil's crude oil exports rose by more than 50% in August compared with a year earlier and gasoline output fell by more than a fifth, the country's petroleum regulator ANP said, as Brasilia adjusted to weaker domestic fuels demand. Oil exports rose 56.2% in August to 25.36 million barrels, the highest total since June's record high, compared with 16.23 million barrels in August 2014, Reuters reported. Exports in the month were 28.9% higher than in July. Imports fell 20.3% from a year earlier to 7.91 million barrels, the lowest since May, and were 4.41% lower than in July. Brazil's economy is in the middle of its worst downturn since the great world depression of the 1930s, a recession that has seen a plunge in industrial activity. Production of gasoline, which fell 22.4% to 12.56 million barrels compared with a year earlier and 9.81% compared with July, was also pressured by the fuel's declining competitiveness with hydrous ethanol in much of the country.


Short URL : https://goo.gl/MBkg85
  1. https://goo.gl/tHccov
  • https://goo.gl/vmYKTn
  • https://goo.gl/Uiwh25
  • https://goo.gl/5nI5l5
  • https://goo.gl/xpT4H9

You can also read ...

No licenses have been issued for state and semi-governmental companies to build power plants in the last four years.
The Energy Ministry has privatized over 50% of power plants in...
China Energy Demand to Peak in 2040
China's energy demand will peak by 2040, a decade later than...
The agreement went through after years of on-off negotiations with the French group.
A technology licensing agreement with French company Air...
NISOC Targeting 20% Rise in Recovery Rate
National Iranian South Oil Company aims to increase the...
OPEC to Struggle With Oversupply for Years
When OPEC and Russia first embarked on clearing a global oil...
Iraq Sets Up Oil Shipping, Trading Joint Venture
OPEC member Iraq has formed a joint venture with a shipping...
Brent, WTI Make Gains
Oil prices edged up on Wednesday, lifted by declining US crude...