BG to Export From Brazil as Nation Becomes Key Oil Source

BG Group Plc, the UK’s third-largest natural-gas producer, is preparing to export oil from Brazil as the Latin American country becomes the company’s key source of crude in the coming decade.

BG created a marketing division in Brazil and leased a tanker to ship oil from the offshore Lula field, the Americas’ second-largest oil discovery in more than 30 years, said Nelson Silva, the head of BG’s Brazil operations. Output at Lula will rise once BG’s partner at the field, Brazil’s state-run Petroleo Brasileiro SA, installs a pipeline and other infrastructure in May or June, he said in an interview on March 25.