Brazil's Petrobras, China's CNPC Sign Letter Of Intent
SAO PAULO, July 4 (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA said on Wednesday it has signed a letter of intent with China National Petroleum Corp (CNPC), advancing negotiations regarding a strategic partnership.
The potential partnership includes the conclusion of construction at the Comperj refinery and CNPC's "participation" in the Marlim oil field, Petrobras said in a securities filing, without offering additional details. It added that the implementation of the partnership depended on the success of final negotiations.
In April, Reuters reported that talks between CNPC and Petrobras were maturing, with CNPC likely to invest in Comperj and take a stake in oil fields in the Campos Basin, where Marlim is located.
(Reporting by Gram Slattery Editing by Chizu Nomiyama and Frances Kerry)
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