Brazil's Petrobras Sets Record in Terms of Oil Exports in April Amid Coronavirus Pandemic
BUENOS AIRES (Pakistan Point News / Sputnik - 05th May, 2020) Brazil's oil and gas company Petrobras set a record in terms of oil exports in April, increasing them to 1 million barrels per day, or up to 30.4 million barrels per month, the company said.
"We exported 1 million barrels of oil per day in April. This represents a new oil export record and contributes to strengthening the company's cash flow," it said in a statement.
"The previous record was 771 thousand barrels per day, set in December 2019," Petrobras said.
It said the result occurred in a challenging period of the world economy, with high reduction of global oil and oil products demand, caused by the novel coronavirus (COVID-19) outbreak.
"Due to the strong contraction of the national market, Petrobras is directing efforts to export its production, after meeting domestic demand," the company said.