Brazil has ordered around 350,000 tonnes of North Asian diesel as it looks to meet demand caused by growing industrial activity in the South American country.
Fuel demand rose by over 11 per cent last year, with Brazil needing 850,000 barrels each day.
Its latest shipments will be brought in from South Korea and Taiwan, with oil giant Petrobras chartering the delivery.
“Exports from North Asia have been very high recently due to huge refinery runs and soft demand at home, so its not surprising since Brazil is tight on products,” a Singapore-based expert told Reuters.
Furthermore, Petrobras is also expected to complete upgrades at many of its refineries in Brazil by the end of 2014 or 2015, according to downstream director Paulo Roberto Costa.
Recently, oil and gas producer BG Group said that it was doubling its Brazilian oil estimates, which in turn led to the firms stock increasing by five per cent.
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