Brazil more and more depending on oil exports and vitality manufacturing
“We’ve reached the milestone of crude oil changing into Brazil’s prime export, surpassing soybean meal, agribusiness, mining, and iron exports, stated CEO Chambriand
Crude oil has turn out to be Brazil’s principal export product surpassing agribusiness and mining, in response to the nation’s hydrocarbons firm Petrobras CEO Magda Chambriard. Brazil shouldn’t be additionally changing into extremely depending on oil exports but additionally in vitality technology.
“We’ve reached the milestone of crude oil changing into Brazil’s prime export product. We’ve surpassed soybean meal, agribusiness, mining, and iron exports, making it attainable for Petrobras to contribute considerably to Brazil’s export agenda,” she stated.
Petrobras reported operational highlights, together with the achievement in September of a historic 3 billion barrels of oil and amassed manufacturing from the Tupi Shared Reservoir and the Iracema space.
When in early November asserting the corporate’s third-quarter 2024 outcomes, and a revenue of BRL 32.6 billion—a 22.3% improve in comparison with the identical interval final yr, CEO Chambriard additionally revealed that BRL 17.1 billion could be distributed in dividends to the corporate’s shareholders.
The manager described the outcomes as stable, constant, and surpassing sector expectations. “These outcomes exceeded the market’s highest forecasts. Final quarter, we noticed robust money technology from each oil exploration and manufacturing, in addition to from refining and pure gasoline. This quarter, we’re reaffirming the success of the choices we’ve made. Our debt is at its lowest degree since 2008, and right now, we’re accountable for producing 31% of all major vitality within the nation,” she famous.
