Tokyo: In a bid to boost Asian sales, Brazil's Petrobras will start selling Brazilian crude from a distribution hub in Okinawa next month, trade sources said on Wednesday, kicking off a strategy to bolster the state-owned producer's share of the Northeast Asian market. 950,000 barrels of medium heavy Roncador 28 crude will be in place by April 19, as Petrobras looks to challenge Middle East oil dominance in the Far East.
The export strategy will help Petrobras split transoceanic shipments into smaller vessels, supplying refineries that lack port facilities or storage to receive VLCCs in Japan, South Korea, China and as far as Malaysia. [26/03/10]
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