LatinNews Daily - 08 June 2020

* Brazil’s state-owned oil company, Petrobras, has announced that it exported a record 1.11m tonnes of fuel oil in May this year, increasing export levels by 231% compared with May 2019. Petrobras explained that it has benefited from a new international specification for marine fuels (IMO 2020) coming into force this year, which has lowered the sulfur content limit for fuels from 3.5% to 0.5%, creating an opportunity for Petrobras even within a “challenging period for the global economy”, as the company produces oil and fuel with a low sulfur content. Petrobras further noted that it has successfully diversified its fuel exports destinations, part of measures taken in the face of the current oil crisis.

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