Americas News
Petrobras Increases Credit Time Limit for Bunker Sales
Tuesday October 1, 2024
Brazilian state oil producer Petrobras has increased credit time limits for payments for bunker fuels.
The company has increased the payment term on new sales from 21 days to 30 days after delivery as of October 1, it said in a note to customers on Tuesday.
"This change aims to match the demand from most of our clients, ensuring better service and general satisfaction with Petrobras' bunkering operations," the company said.
Bunker credit conditions have generally tightened since 2020, with higher inflation bringing a rise in interest rates. These may start to ease again now in a time when various central banks are starting to consider cuts in rates again.
