Brazil’s Petrobras Aims to Step up Oil Exports and Asset Sales

China has emerged as Petrobras’ most important export market, but Chief Executive Roberto Castello Branco has said the company is working to develop other markets, such as India.

RIO DE JANEIRO, BRAZIL - Brazil’s Petrobras on Monday, November 30th, projected a surge in oil exports and divestments over the next five years as it steps up plans to target overseas demand and cut debt.

In a virtual presentation to investors during the state-controlled company’s annual investor day, Petroleo Brasileiro SA, as it is formally known, said domestic oil sales are expected to fall to 1.252 million barrels per day (bpd) in the 2021-2025 period, versus 1.348 million bpd in the five years ending in 2019.

Crude exports, however, are forecast to climb to . . .

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