RIO DE JANEIRO, July 10 (Reuters) - Brazil has

logistical and commercial flexibility to preserve the

competitiveness of its oil on the international market if the

50% tariff announced by U.S. President Donald Trump on Wednesday

comes into effect on August 1, experts told Reuters.

Oil is the main product on Brazil's export list to the U.S.

and until now was exempt from the 10% tariff applied this year

to Brazilian exports, but it is unclear whether that will remain

the case with the new 50% tariffs.

"These tariffs may generate short-term noise in trade flows

and impact margins on spot contracts, but do not represent a

structural risk," said BTG Pactual analysts Luiz Carvalho and

Gustavo Cunha, in a report to clients.

The Brazilian Petroleum Institute (IBP), that represents

state-run oil firm Petrobras and oil majors operating

in Brazil, such as Shell, TotalEnergies and

Equinor ( EQNR ), said in a statement on Thursday that it views

Trump's measure "with concern", and urged Brazil's government to

act diplomatically.

IBP had no information on whether the previously valid

tariff exemption for oil would remain so after the announcement.

In 2024, Brazil exported a total of 1.78 million barrels per

day (bpd), of which 243,000 bpd were destined for the U.S.,

according to government data compiled by consultancy StoneX.

Petrobras, Brazil's main producer, will not be significantly

impacted by the tariffs, BTG analysts said. In the first quarter

of the year, only 4% of its exports went to the U.S., according

to company data.

In terms of oil products, Petrobras' share of exports to the

U.S. was 37% of a total of 209,000 bpd, or around 77,000 bpd.

"Although the U.S. has a considerable share of derivatives

exports, when we look in absolute terms, we believe that this is

a small volume and that Petrobras should be able to redirect

this export flow to another country with ease," said the BTG

analysts.

In a statement, Petrobras said that it is assessing the

impact of the tariff announced the day before and maintains its

strategy of always seeking "the best alternative for the company

in any scenario".

On Thursday, Petrobras' preferred shares were trading close

to flat.