Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 80

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 80
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 31, 2023.
 
Imports, Exports, and International Sales
 Our import and export of crude and oil products are driven by economic factors involving our domestic refining, the Brazilian demand levels and international prices. Most of the crude oil we produce in Brazil is classified as medium API Gravity. We import some light crude oil to balance the slate for our refineries, and export mainly medium crude oil from our production in Brazil. In addition, we continue to import oil products in order to balance any shortfall between production from our Brazilian refineries and the market demand for each product.
 In 2024, net exports increased by 14 mbbl/d, reaching 499 mbbl/d. This increase resulted mainly from lower imports of oil products in 2024, mainly gasoline, due to increased production with higher utilization of refineries in the year 2024.
 

Annual Report and Form 20-F 2024 |
EXPORTS AND IMPORTS OF CRUDE OIL AND OIL PRODUCTS (mbbl/d)

          2024             2023   2022
--------------------------------------
Exports                               
Crude oil            602    594    513
Fuel oil             150    161    181
Other oil products    46     51     20
Total exports        798    806    714
Imports                               
Crude oil            151    156    164
Diesel                60     63    118
Gasoline              11     39     25
Other oil products    77     63     86
Total imports        299    321    393
 
Our crude oil, oil products and LNG trading activities aim to meet our internal demands or potential businesses opportunities identified by our commercial teams, seeking to optimize the buying and selling operations in the Brazilian and global markets, as well as offshore operations.
 The international trading teams are based in the major global commercial hubs of oil and oil products, such as Houston, Singapore, Buenos Aires and Rotterdam and are comprised of crude oil, oil products and biofuels traders, LNG, shipping and support operators.
 For more information on our oil and oil products clients, see “Exploration & Production – Customers and Competitors” and “Refining, Transportation & Marketing – Customers and Competitors” in this annual report.
 

Annual Report and Form 20-F 2024 |
Distribution
 We sell our oil products to several distribution companies in Brazil.
 A 10-year trademark license agreement is in place