Petrobras oil exports to hit 800,000 bpd by 2020

Brazilian state oil company Petrobras expects crude oil exports to rise to 800,000 barrels per day by 2020 as new oil production from vast offshore fields comes online, a company director said on Wednesday.
Petrobras is currently both an importer and exporter of crude oil, but imports are slated to halt by 2014 as oil output from the offshore region known as the subsalt displaces light crude purchases from Iraq and Saudi Arabia, Petrobras Supply Director Paulo Roberto Costa said.
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Source: Reuters