Brazilian oil major Petrobras has decided to transfer its commercial activities from London to the Port of Rotterdam in the Netherlands.
Port of Rotterdam said on Tuesday that the Brazilian oil firm would transfer its commercial activities from the London-based Petrobras Europe to Petrobras Global Trading B.V. back in Rotterdam.
According to the Port, the change will start in the next quarter and must be completed by the second half of 2021.
The focus on Rotterdam is in line with the Petrobras policy of rationalising its international presence in 2021, taking into account the world’s three major oil markets – Europe, North America, and Asia.
The company’s commercial activities outside Brazil will be consolidated in offices in Rotterdam in the Netherlands, Houston in the United States, and Singapore. This measure of deactivating external offices between 2019 and 2021 will result in savings of up to 13.5 million dollars per year.
“ The Port of Rotterdam Authority is delighted with the arrival of Petrobras and its choice of Rotterdam as headquarters for its European trading activities.
“ Petrobras is a large energy producer with an approximate total of 3 million barrels of oil equivalent per day – which includes 2.3 million barrels of oil per day.
“ The arrival of the company confirms Rotterdam’s international reputation as major liquid energy trader and energy market “, the Port stated.