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

Reuters
·1-min read
FILE PHOTO: Roberto Castello Branco, CEO of Petroleo Brasileiro S.A. (PETROBRAS), speaks during a compliance event in Rio de Janeiro

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)