financetom
Business
financetom
/
Business
/
Uncertainty over tariffs halts oil shipments from Brazil to US, says lobby group
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Uncertainty over tariffs halts oil shipments from Brazil to US, says lobby group
Jul 30, 2025 12:11 PM

RIO DE JANEIRO, July 30 (Reuters) - Energy companies

operating in Brazil suspended oil shipments to the United States

after President Donald Trump announced 50% tariffs against the

South American country, Roberto Ardenghy, president of oil lobby

group IBP, told Reuters on Wednesday.

Oil is Brazil's top export to the U.S. and was exempt from

the 10% April tariff imposed on Brazilian exports, but it is

unclear whether the commodity will remain exempt under the new

50% tariff set to come into effect on Friday.

"This time we have no way of knowing," said Ardenghy. IBP

represents oil companies in Brazil, such as Petrobras

, Shell, TotalEnergies, ExxonMobil ( XOM )

and Equinor ( EQNR ).

"Business involving cargo that has to leave Brazil for the

U.S. is suspended," Ardenghy said.

Instead of shipping their product to the United States,

companies are storing oil on floating production vessels or on

cargo ships, Ardenghy said.

Because it takes around 21 days for a shipment to reach the

U.S. from Brazil, oil shipments were stopped once it became

impossible to reach their destination before Aug. 1, he said.

If there is no exemption, Brazil is likely to redirect

shipments to Europe and India, he said.

"But, for now, everything is on hold, waiting for what will

come on August 1st," he added.

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

day (bpd), of which 243,000 bpd went to the U.S., according to

government data compiled by consultancy group StoneX ( SNEX ).

Petrobras, Brazil's state-run oil firm and a top oil

producer and exporter, has sent about 8% of its oil exports in

the second quarter, the firm said in a filing on Tuesday.

Earlier this month, Petrobras Chief Executive Magda

Chambriard told Reuters that the company may redirect the oil it

sells to the U.S., sending more to Asia and Pacific markets if

the higher U.S. tariffs for Brazil come into effect.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Colliers acquires California-based transit engineering and program management firm
Colliers acquires California-based transit engineering and program management firm
Mar 11, 2026
TORONTO and PASADENA, Calif., Feb. 04, 2026 (GLOBE NEWSWIRE) -- Leading diversified professional services and investment management company, Colliers , announced today that the U.S. division of its Engineering segment (“Colliers Engineering”) has acquired Ramos Consulting Services, Inc. (“Ramos CS”), a California-based provider of program management, construction management, and engineering services for major public transit projects. The addition of Ramos...
Qualis, InTrack Radar Technologies, and Tektonux Announce Merger Creating Missile Defense and Space Domain Awareness Platform
Qualis, InTrack Radar Technologies, and Tektonux Announce Merger Creating Missile Defense and Space Domain Awareness Platform
Mar 11, 2026
HUNTSVILLE, Ala. and COLORADO SPRINGS, Colo., Feb. 4, 2026 /PRNewswire/ -- Qualis, InTrack Radar Technologies (InTrack), and Tektonux today announced their merger to form a company combining hardware and software products for the agile modernization of missile defense, space domain awareness, integrated fires, and electronic warfare. The new company – a portfolio company of Bluestone Investment Partners – iteratively improves...
ABM Completes Acquisition of WGNSTAR, Strengthening Leadership in Semiconductor Technical Services
ABM Completes Acquisition of WGNSTAR, Strengthening Leadership in Semiconductor Technical Services
Mar 11, 2026
NEW YORK, Feb. 04, 2026 (GLOBE NEWSWIRE) -- ABM a major provider of facility, engineering, and infrastructure solutions, today completed the previously announced acquisition of WGNSTAR, a leading provider of technical and operational solutions for the semiconductor and high-technology industries. Scott Salmirs, President and CEO of ABM commented, “We are excited to officially welcome WGNSTAR’s talented team to ABM. This...
Registrar Corp Acquires TechniCAL and Becomes the Global Compliance Leader in Shelf-stable Packaged Foods Safety
Registrar Corp Acquires TechniCAL and Becomes the Global Compliance Leader in Shelf-stable Packaged Foods Safety
Mar 11, 2026
HAMPTON, Va.--(BUSINESS WIRE)-- Registrar Corp, the world’s largest food and beverage regulatory compliance provider, today announced its acquisition of TechniCAL, the world’s leading independent Process Authority for low-acid and acidified foods. Registrar Corp is a Paine Schwartz Partners portfolio company. Consumer demand for convenience and longer product life without refrigeration has driven rapid growth in shelf-stable foods and beverages, with...
Copyright 2023-2026 - www.financetom.com All Rights Reserved