Brazil exports 2014 on oil should more than its imports, the head of the country's Oil, Gas and Biofuels Association Mr Magda said in Tuesday.
Compared with last year, when Brazil exported far less oil than it imported, this year's output has been fairly positive, helping to balance the domestic market, Mr Magda says. Brazil imported $1.63 billion of oil in 2013, but exported only $1.3 billion, according to government data. In 2012,
Brazil imports and exports were basically balanced. The Brazilian Oil, Gas and Biofuels Association estimates exports are up 7.5 percent this year after two years of decline, which should help balance the market.
"Over the next decade, as is customary, Brazil will continue to be the largest producer of natural gas," Magda said. At the moment, the United States is a big importer of natural gas, and it imports natural gas at an alarming rate every year. Brazil at least has some advantages in this respect, and in the short term, Brazil will not import as much natural gas as the United States.
