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The company attributes the result to appreciation of the dollar as against the Brazilian real and to tax cuts promoted by the government of Brazil. The forecast is to sell more to the Arabs.

Such is the volume of reserves contained in one of the pre-salt layer oilfields in the Santos Basin, according to the secretary for the sector at Brazil’s Ministry of Mines and Energy.

The Opec, which has seven Arab countries among its members, believes consumption should average at 89.67 million barrels per day in 2013, originating mostly from China and the Middle East.