Petrobras may obtain from China 10 billion dollars instant loan.

Tuesday, February 24, 2009 posted by admin 4:46 pm
 

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The Brazilian state oil company Petroleo Brasileiro SA (Petrobras) has signed a Memorandum of Understanding with the Development Bank of China to bring the loan of 10 billion dollars. In addition, as reported by Bloomberg, Petrobras and the Chinese state company Sinopec signed an agreement to supply China and 100 thousand barrels of oil per day in Brazil.

According to the head of Petrobras, José Sergio Gabrielli (Jose Sergio Gabrielli) loan will be used, inter alia, for the five-year investment program in the company’s 174.4 billion dollars. However, it is not announced details of the loan granted. According to him, the final agreement for a loan will be signed in May during a visit to Beijing Brazilian President Luiz Inacio Lula da Silva (Luiz Inacio Lula da Silva). 

As previously reported BFM.ru, in January 2009, Book Petrobras announced intention to invest in 2013 to 104.6 billion dollars in production and oil production around the world. In addition, the company reported intention to 2011 to invest 780 million dollars to develop renewable energy. Most of the investments will be directed to the production of bio fuels.

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