Petrobras Signs $5B Chinese Financing And Oil Supply Deal
SAO PAULO, Dec 16 (Reuters) - Petróleo Brasileiro SA (Petrobras) has signed definitive terms for a $5 billion, 10-year financing agreement with China Development Bank Corp and an oil supply accord with Chinese companies, as the Brazilian state-controlled oil company seeks to secure a stable stream of revenue and funding for the coming years.
In a securities filing, Petrobras said the financing deal was signed Thursday.
It also agreed to sell 100,000 barrels of oil per day for the next decade to China National United Oil Corp, China Zhenhua Oil Co Ltd, and Chemchina Petrochemical Co Ltd subject to "market conditions", the filing said.
(Reporting by Guillermo Parra-Bernal; editing by Jason Neely)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 34 Offshore Rigs
Manages 10 Offshore Rigs
- Exxon, Petrobras Form Alliance To Develop Oil, Gas Projects (Dec 14)
- Natural Gas In Petrobras Pipelines Up About 23% In 2017 (Dec 05)
- Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO (Nov 15)