Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2018-07-30 13:40:00

PETROBRAS NEEDS CHINA

PETROBRAS NEEDS CHINA

REUTERS - Brazil's state-controlled energy company Petrobras plans to push more crude oil to top importer China by marketing a new medium-sweet grade that could be shipped from October, two sources with knowledge of the matter said.

Petrobras expects to start pumping pre-salt oil from new platforms in the fourth quarter that would add to output from Latin America's biggest producer and lift its exports.

The new supply could enlarge Brazil's market share in China as buyers there cut oil imports from the United States following Beijing's announcement it would impose tariffs on U.S. crude in retaliation against similar moves by Washington.

"Petrobras' oil export curve is increasing and China is currently the company's main market," a Petrobras spokesman said in an e-mail.

"With (Chinese) refineries' growing interest in buying oil directly from producers ... Petrobras will grow its presence with these refiners."

Petrobras started production in April at its wholly-owned Buzios pre-salt field in the Santos basin from platform P-74, located about 200 km off the Rio de Janeiro coast in water depths of 2,000 metres, according to the company's website.

Two more platforms, P-75 and P-76, are to come online in the fourth quarter. Total Buzios output is expected to grow to 750,000 bpd by 2021, once an additional four platforms come online, the company said.

Buzios crude has API gravity of 28.4 degrees and contains about 0.31 percent sulphur, similar in quality to Brazil's Lula crude, one of the most popular oils in China, the company said.

The new supply could help lift Petrobras' crude oil exports, which dropped 53.8 percent in June from a year ago to 696,000 barrels per day (2.86 million tonnes) as the company hiked its refinery output.

Petrobras' overall production in June stood at 2.03 million bpd, down 1.5 percent from May.

Brazil's oil liquids output, including biofuels, is expected to rise by 200,000 bpd to 3.5 million bpd in 2019, after holding steady in 2018, according to consultancy Energy Aspects.

CHINA RISING

China's demand for low-sulphur crude, such as oil from Angola and Brazil, jumped over the past two years after its independent refiners, also known as teapots, were allowed to import crude.

That has moved Brazil up two notches since 2017 to fifth on China's supplier list, with 657,000 bpd in the first quarter this year, according to data from China customs.

The teapots' oil imports from Brazil more than doubled in the first half of 2018 to 350,000 bpd compared with the same period a year ago, according to Beijing consultancy SIA Energy.

More than half of Brazil's shipments to China went through ports in Shandong province, home to most of China's independent refiners, according to Thomson Reuters Eikon data.

Petrobras also supplied the first crude cargo to Chinese chemical producer Hengli Group for the start-up of its new refinery in northeast China in the fourth quarter of this year. New Brazilian crude Mero was also delivered to Shandong in June.

Petrobras has expanded its trading team in Singapore to step up marketing efforts in China, the two sources familiar with the matter said. The company has appointed a business development person from within the company and hired a crude trader from a Chinese refiner who will join in September, the sources said.

"In order to improve market share in China, and considering the entry of the teapots in the international market, Petrobras considers that it is necessary to have a professional fluent in Mandarin for the specific development of this market," the company said, without confirming the new hire.

Asia's largest refiner Sinopec bought a third of China's Brazilian oil imports in the first half of 2018, up 13 percent from a year ago, SIA Energy analyst Seng Yick Tee said.

"Sinopec and independents have the appetite for additional crude imports from Brazil, and the potential tariffs on U.S. crude is one of the reasons," Tee said.

Trade flow data on Eikon, however, shows Brazilian exports to Shandong look set to drop in the third quarter - before the additional Buzios platforms start up - as poor margins and tighter credit have forced teapots to cut runs.

The tough environment is expected to push independents to seek more competitive oil supplies, Tee said.

Other sellers of Brazilian crude include Royal Dutch Shell and Equinor. State-owned China National Petroleum Corp (CNPC) and CNOOC Ltd also have equity stakes in Brazilian oilfields.

-----

Earlier:

 CHINA:

 

 

 

 PETROBRAS:

 

 S-E.Asia
2018, July, 27, 12:45:00

U.S. OIL TO CHINA DOWN

PLATTS - China's crude oil imports from the US for July have fallen sharply from June, and are expected to drop even further for August, vessel tracking data showed, as Beijing's tariffs on US crude...

 

     PETROBRAS NET INCOME $2.145 BLN
2018, May, 10, 13:00:00

PETROBRAS NET INCOME $2.145 BLN

PETROBRAS - Net income attributable to the shareholders of Petrobras was US$ 2,145 million in 1Q-2018, a 51% increase compared to US$ 1,417 million in 1Q-2017...

 

 S-E.Asia
2018, July, 25, 09:30:00

U.S. - CHINA LNG DOWN

REUTERS - China, which purchased 14 percent of all U.S. LNG shipped between February 2016-April 2018, has taken delivery from just one vessel that left the United States in May and none in June...

     EXXON PARTNERSHIP IN BRAZIL
2018, March, 30, 11:05:00

EXXON PARTNERSHIP IN BRAZIL

REUTERS - Exxon along with Petrobras and Qatar Petroleum Intl shelled out 2.8 billion reais ($844 million) for a block in Brazil’s offshore Campos basin as the American oil major seeks to...

 S-E.Asia
2018, July, 23, 13:40:00

КООПЕРАЦИЯ РОССИИ И КИТАЯ

МИНЭНЕРГО РОССИИ - «Последовательно реализуются ключевые проекты двустороннего взаимодействия, включая поставки природного газа по «восточному» маршруту и «Ямал СПГ». 

 

     BRAZIL REGAIN MARKET
2018, March, 18, 11:30:00

BRAZIL REGAIN MARKET

PLATTS - "The increase in competition induced new practices in the market that resulted in imports returning to normal," Petrobras' Jorge Celestino said during a presentation of the company's 2017...

 

 S-E.Asia
2018, July, 11, 09:05:00

CHINA: THE LARGEST

EIA - In recent years, as its domestic energy consumption has grown, China has become a more significant destination for U.S. energy exports. In particular, China has been among the largest...

 

     U.S. WANT PETROBRAS: $3 BLN
2018, January, 4, 12:15:00

U.S. WANT PETROBRAS: $3 BLN

PETROBRAS - The agreement does not constitute any admission of wrongdoing or misconduct by Petrobras. In the agreement, Petrobras expressly denies liability. This reflects its status as a victim of the acts...

 

 S-E.Asia
2018, June, 20, 12:55:00

U.S. OIL FOR CHINA

PLATTS - Since the US dropped all limits on crude exports in 2015, China has competed with Canada as the top buyer of US crude. US crude exports to China averaged over 358,000 b/d in the first quarter,...

     EXXON - PETROBRAS ALLIANCE
2017, December, 18, 12:15:00

EXXON - PETROBRAS ALLIANCE

Petrobras and ExxonMobil signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities....

 S-E.Asia
2018, June, 13, 13:35:00

ЭНЕРГИЯ РОССИИ ДЛЯ КИТАЯ

МИНЭНЕРГО РОССИИ - Было отмечено, что отношения России и Китая носят дружественный, добрососедский характер, поступательно развиваются в духе всеобъемлющего...

 

     BRAZIL IN MOVEMENT
2017, November, 29, 09:35:00

BRAZIL IN MOVEMENT

OGJ - Total SA announced Nov. 27 that the Petroleo Brasileiro SA (Petrobras)-led Libra consortium has brought production on stream in ultradeep waters 180 km offshore Rio de Janeiro in Brazil’s presalt Santos...

 

 S-E.Asia
2018, June, 13, 13:30:00

GAZPROM - CNPC COOPERATION

GAZPROM - The meeting participants reviewed a wide range of issues regarding cooperation in the gas sector, including the status of the project for gas ...

     PETROBRAS NET INCOME R$ 5,031 MLN
2017, November, 15, 12:32:00

PETROBRAS NET INCOME R$ 5,031 MLN

PETROBRAS - Net Income of R$ 5,031 million in 9M-2017, compared to a loss of R$ 17,334 million in 9M-2016...

 

 

 

Tags: PETROBRAS, BRAZIL, CHINA, USA
PETROBRAS NEEDS CHINA February, 18, 12:30:00

OIL PRICE: ABOVE $66

PETROBRAS NEEDS CHINA February, 18, 12:25:00

OIL DEMAND GROWTH 1.4 MBD

PETROBRAS NEEDS CHINA February, 18, 12:20:00

BRENT OIL: UNDERVALUED

PETROBRAS NEEDS CHINA February, 18, 12:15:00

U.S. OIL PRODUCTION 11.9 MBD AGAIN

PETROBRAS NEEDS CHINA February, 18, 12:10:00

BENEFIT FOR RUSSIA

PETROBRAS NEEDS CHINA February, 18, 12:05:00

LATIN AMERICA ENERGY FORUM FEBRUARY 2019

All Publications »

Chronicle:

PETROBRAS NEEDS CHINA
2019, February, 18, 12:00:00

БЫСТРАЯ СИЛА СИБИРИ

ГАЗПРОМ - Как отметил по итогам переговоров Алексей Миллер, «строительство газопровода „Сила Сибири“ идет с опережением графика, „Газпром“ начнет поставки газа в Китай раньше намеченного срока — уже с 1 декабря 2019 года».

PETROBRAS NEEDS CHINA
2019, February, 18, 11:55:00

U.S. TIGHT OIL PRODUCTION 7 MBD

U.S. EIA - In December 2018, U.S. shale and tight plays produced about 65 billion cubic feet per day (Bcf/d) of natural gas (70% of total U.S. dry gas production) and about 7 million barrels per day (b/d) of crude oil (60% of total U.S. oil production). A decade ago, in December 2008, shale gas and tight oil accounted for 16% of total U.S. gas production and about 12% of U.S. total crude oil production.

PETROBRAS NEEDS CHINA
2019, February, 18, 11:50:00

U.S. SHALE NEED INVESTMENT

REUTERS - On Thursday, the regional price of crude was at a $1.10 a barrel premium to U.S. crude futures, the strongest in more than a year as companies including Parsley Energy, Pioneer Natural Resources, Goodrich Petroleum Corp have pared their exploration budgets, easing the constraints.

PETROBRAS NEEDS CHINA
2019, February, 18, 11:45:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.6%

U.S. FRB - Industrial production decreased 0.6 percent in January after rising 0.1 percent in December.

All Publications »