While Turkey is not currently part of the European Union, it has been associated with the accession process, which allows companies to import and export without taxes, Sami says.
And if Petrobras ever does utilize the loan facilities provided by the ExportImport Bank, it is good for US companies who will get orders for goods and services, and good for Petrobras who will use those goods and services to pump out more oil for Brazil, and the world.
This could be a trend, but it could also be part of a seasonal production cycle where Chinese companiesimport raw materials and components in the spring, in order to gear up to export finished products later in the year.