Supplies of Russian diesel fuel to Brazil jump in 2.5 years, replacing U.S. deliveries redirected to EU - Russian ambassador

MOSCOW. Feb 5 (Interfax) - Russia has sharply increased its exports of petroleum products to Brazil, primarily diesel fuel, over the past two and a half years, and there is potential for further cooperation in this area, Russian Ambassador to Brazil Alexei Labetsky said in an interview with the Rossiya-24 television channel (VGTRK).

"Over the past two and a half years, the volume of trade in petroleum products has grown significantly, particularly in the diesel market. This was driven by the redistribution of product flows in the global petroleum market. Brazil, which previously purchased much of its diesel fuel from the American continent, was forced to seek new suppliers because American diesel fuel was redirected to Europe. Brazil does not yet produce enough diesel, and that is why our cooperation in this area is developing," Labetsky said.

Brazil's average daily oil production last year was around 3.44 million barrels per day, according to International Energy Agency (IEA) estimates. The country is the largest producer in Latin America, but despite this status it cannot meet its domestic demand for petroleum products due to insufficient refining capacity.

According to data from the Energy Institute's statistical handbook, Brazil's demand for petroleum products in 2023 was estimated at 2.57 million bpd, with demand for gasoline and diesel fuel alone exceeding 1 million bpd. At the same time, the country's oil refining capacity is estimated at approximately 2.3 million bpd. Brazil imported an average of 246,000 bpd in 2024, according to data from the country's National Agency of Petroleum, Natural Gas, and Biofuels.

Brazil's demand for petroleum products exceeding domestic production is primarily driven by fuel needs in the agricultural sector. The country is the largest producer and exporter of commodities such as soybeans, corn, sugarcane, coffee, cocoa and others.