July 16, 2020 / 7:55 PM / 20 days ago

Petrobras CEO says domestic fuel demand could limit oil exports to China

FILE PHOTO: Roberto Castello Branco, CEO of Petroleo Brasileiro S.A. (PETROBRAS), speaks during a compliance event in Rio de Janeiro, Brazil December 9, 2019. REUTERS/Sergio Moraes/File Photo

RIO DE JANEIRO (Reuters) - Demand for fuels such as gasoline and diesel is growing in Brazil, which could limit exports to China in the coming months, Roberto Castello Branco, the chief executive of state-run oil firm Petrobras, said in an interview with Bloomberg TV on Thursday.

China has emerged as the key export market for Petroleo Brasileiro SA (PETR4.SA), as the firm is formally known. Chinese demand for Petrobras’ bunker, a type of fuel used by ships, has remained strong during the novel coronavirus pandemic, executives have previously said.

Reporting by Gram Slattery; Editing by Chris Reese

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