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Petrobras to export new crude oil from Buzios from the fourth quarter of 2018

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Buzios production began in April 2018, in the pre-salt region of the Santos Basin, about 200 km off the coast of Rio de Janeiro, on the P-74 platform, according to a statement released by Petrobras in April.

Petrobras must export a new type of crude oil, known as Buzios, the last quarter of 2018, sources close to the S & P Global Platts on Monday.

Exports of the new gross product would be directed mainly to China, one source said.

Búzios production began in April 2018, in the pre-salt region of the Santos Basin, about 200 km off the coast of Rio de Janeiro, on the P-74 platform, according to a statement released by Petrobras in April.

In addition to the P-74, four other platforms will be allocated to this field between 2018 and 2021, each capable of processing up to 150,000 barrels of oil and 6 million cubic meters of gas per day, according to the company.

Buzios is a medium heavy crude, rich in medium and heavy distillates, with an API gravity of about 28.4 degrees. The sulfur content is about 0.31%.

The launch of this oil will raise Petrobras’ total exports to about 750,000 b / d by 2019, sources close to the company said.

Brazil was the second largest supplier of crude oil to China in June, only 100,000 tonnes less than Angola, around 1.15 million tonnes, down 2.7% from the previous month.

The strong buying interest of independent refineries in China in the first half of 2018 raised Brazil’s total imports in the period to 8.5 million tons, an increase of 67.7% over the previous year.

In addition to the traditional classes in Brazil – Lula, Lapa, Iracema and Sapinhoa ​​- independent refiner Tianhong Petrochemical bought 40,000 tonnes of Mero crude in June after the first Mero crude oil was brought to China by Vitol in May.

Mero is a new crude with an API gravity of about 28.6 degrees and a sulfur content of about 0.32%.