Brazilian Company "Petrobras": We Will Redirect Oil to Asia Due to Trump's Tariffs
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Reuters quoted the CEO of the Brazilian government oil company Petrobras as saying today, Thursday, that the company may redirect the oil it sells to the United States and send more to Asian markets and the Pacific Ocean due to the high customs duties announced by the United States on Brazil.
Although oil and gas exports represent a large share of Brazil's exports to the United States, Petrobras CEO Majda Chamaryard said it is not a primary market for the company.
She added: "We do not export much (to the United States). And in general, we are not very concerned", in her first public comments on the 50% tariffs announced by US President Donald Trump last week.
Exports to the United States accounted for about 4% of Petrobras' total oil shipments in the first quarter.
Stone X Consulting also says it is unlikely that Washington will be significantly affected if Brazil stops exports, as the South American country has only exported less than 3% of the oil consumed by the United States so far in 2025.
Although oil and gas exports represent a large share of Brazil's exports to the United States, Petrobras CEO Majda Chamaryard said it is not a primary market for the company.
She added: "We do not export much (to the United States). And in general, we are not very concerned", in her first public comments on the 50% tariffs announced by US President Donald Trump last week.
Exports to the United States accounted for about 4% of Petrobras' total oil shipments in the first quarter.
Stone X Consulting also says it is unlikely that Washington will be significantly affected if Brazil stops exports, as the South American country has only exported less than 3% of the oil consumed by the United States so far in 2025.
