With a Toy Weapon Former Official Takes Hostage and Demands Cleaner Politics in Brazil
After holding hostage a hotel employee in downtown Brasília, the capital of Brazil, for ne...

Read more

"We Are Not Dying," Answer Indigenous Peoples to Sensationalized Photo Expo
An Amazon Indian protested outside the exhibition of controversial photographer Jimmy Nel...

Read more

Brazilian Nattan Pires: a New Star in the World Fashion Constellation
In the competitive world of international fashion, the Brazilian model Nattan Pires has s...

Read more

Bahia Port in Brazil Gets Green Light Despite Greens' Opposition
The government has authorized the beginning of the construction of Porto Sul, in the city...

Read more

President's Rise in the Polls Is Sinking the Brazilian Real
Brazil's real advanced from a seven-month low as the Brazilian central bank signaled it w...

Read more

Brazil President Tells UN She Wants More Power for Developing Countries
President Dilma Rousseff criticized on September 24 the delay in providing developing cou...

Read more

Brazil's So-called Free Electoral Ad Time Costs Taxpayers US$ 350 million
According to Brazilian law, open television channels and radio stations must set aside a ...

Read more

Former Political Prisoners in Brazil Visit Place Where They Were Tortured
Former political prisoners, accompanied by experts and members of the National Truth Commi...

Read more

Brazil Presidential Candidate Marina Silva Vows to Promote Democracy in Cuba if Elected
Brazilian resident Dilma Rousseff's main foreign affairs' advisor Marco Aurelio Garcia de...

Read more

Fear Campaign in Brazil Hurts Marina and Helps Reelection of President Rousseff
Brazilian President Dilma Rousseff effective television campaign seems to have eroded Mar...

Read more

Rio Celebrates Car-Free Day Promoting Bike Riding
A number of actions were staged in Rio de Janeiro, Brazil, in observance of the World Car...

Read more

Brazil Takes to the Streets in Defense of Religious Freedom
Nearly a thousand people took part in the 7th Walk for Religious Freedom along Copacabana ...

Read more

With a Toy Weapon Former Official Takes Hostage...
"We Are Not Dying," Answer Indigenous Peoples to...
Brazilian Nattan Pires: a New Star in the...
Bahia Port in Brazil Gets Green Light Despite...
President's Rise in the Polls Is Sinking the...
Brazil President Tells UN She Wants More Power...
Brazil's So-called Free Electoral Ad Time Costs Taxpayers...
Former Political Prisoners in Brazil Visit Place Where...
Brazil Presidential Candidate Marina Silva Vows to Promote...
Fear Campaign in Brazil Hurts Marina and Helps...
Rio Celebrates Car-Free Day Promoting Bike Riding
Brazil Takes to the Streets in Defense of...

 

Brazil Lends Petrobras US$ 13 Billion to Fund Its 5-Year, US$ 174-Billion Plan

Brazilian Petrobras BNDES, Brazil's National Bank for Economic and Social development, will lend 25 billion reais (US$ 12.8 billion) to state-controlled oil and gas multinational Petrobras denominated in local Treasury notes, financial newspaper Valor Econômico reported on Thursday, July 16, 2009.

Under the transaction, the Brazilian Treasury will issue the notes and transfer them to BNDES, which will, in turn, lend them to Petrobras, Valor said, citing the company's chief financial officer, Almir Barbassa.

Petrobras will distribute the notes among its ten pension funds, which will sell them to raise cash to pay for investments and other expenditures, Barbassa told the newspaper.

BNDES has committed the loans and the structuring for the transaction is finished, although it needs final approval by the National Treasury, Valor said, citing BNDES President Luciano Coutinho.

Petrobras requested the credit line in March as part of a plan to fund its five-year, US$ 174 billion investment plan, Valor said.

Petrobras has had to rely on government lending to fund a significant part of its investment plan, which has been challenged by the plunge in oil prices from last year's record highs and the impact of the credit crunch.

This year, in addition to a US$ 6.5 billion bridge loan led by Banco Santander and Société Générale among others, Petrobras secured a 12.5 billion credit line from BNDES, 2 billion in loans from the EximBank of the United States and 10 billion from the China Development Bank.

Angola Oil

Odebrecht Oil and Gas, an arm of the Odebrecht Organization, discovered oil off the coastline of Angola, in Africa. The discovery took place at the Chissonga-1 well, located in Bloc 16, at a depth of 4,725 meters. Tests point to a flow rate of 6,850 barrels of oil per day, according to information disclosed by the company.

This is the first drilling in a program that forecasts exploration of three wells this year, year by a consortium comprised of Maersk Oil (50% and operator), Sonangol (20%), Odebrecht Oil and Gas (15%) and Devon Energy Corporation (15%). The consortium has been operating in the region since 2002.

With the finding in Angola, the company consolidates the resumption of investment in Exploration & Production of Oil and Gas. In early 2008, Odebrecht Oil and Gas announced the commercial availability of the first exploratory well at Bloc POT-T-612 in the Potiguar Basin (Carcará Field), in the northern Brazilian state of Rio Grande do Norte.

In addition to the Exploration & Production segment, Odebrecht Oil and Gas provides integrated services and operates oil platforms, providing services for the industry. The company is present in Brazil, Angola, the United Kingdom, the United Arab Emirates, South Korea and Venezuela.

MP/Anba

Who's Online

We have 5217 guests and no members online

Statistics

Users
2
Articles
17073
Articles View Hits
121188576

----------

morsiuspuvut

----------

Shop comfortable Nike basketball shoes for Brazilian with best price at nikesneaker.com

----------

Find fashion dresses online at factory price on 27Dress.com

----------

cheap cocktail dresses

----------

Brazilian Male Enhancement Review at Breastsenlargementreview.com

----------

Brazilian Breasts Enlargement Cream

----------

Brazilian Top Breast Enlargement Reviews

----------

Brazilian Male Enhancement Pills at Breastsenlargementguide.com

----------

bruidsmeisjes jurken

----------

vestidos de noche

----------

ballkleider

----------

Cheap Prom Dresses

----------

Churrasco Equipment and Brazilian Meat Skewers

----------

Vestidos Noiva em Weddingmart.pt

----------

Australia Fashion Online Outlet store

----------

Robe de cocktail

----------

Our good partner Everbuying.com provides wide selections of products at best price for worldwide free shipping.

----------

Cheap Dre Beats

----------

Buy Cheap Nike Mercurial Soccer Cleats from MercurialCity now!

----------

Shopping Reviews

----------

Ad Link I

----------

Check dhgate.com for Brazilian Hair Extensions

----------

EssayDue.net - professional writing help

----------

Visit Ibuytermpapers.com to find expert academic writing tips

----------

Choosing brazilian products online at Milanoo.com

----------

DinoDirect

----------

Get free MajorElectrico writing tips for editing your academic papers.

----------

Join my student groups to get access to free writing templates and samples.

----------

Finding brazilian products from Milanoo Fashion

----------

robe de cocktail

----------

Cheap Wedding Dresses

----------

bruidsjurken

----------

Find Me Handbags

----------

Wholesale Handbags Blog

----------

Submit Articles to Google Website List

----------

Brazilian Eyelash Treatment at Search Wholesale Handbags

----------

Brazilian Tested Lash Growth Serum at Wholesale Handbags Purse

----------

Chinese Wholesale Handbags

----------

Vestidos Noiva em Weddingmart.pt

----------

USA Wholesale Handbags

----------

Brazilian Eyelash Enhancer at Find Wholesale Handbags

----------

Soccer shirt

----------

The best mother of the bride dresses at TidebuyBridal.com

----------

Cheap human hair wigs at ishowigs.com

----------

cheap prom dresses at JDdresses.com

----------

Special Occasion Dresses

----------

Churrasco Catering and Churrasco Skewers

----------

brautjungfernkleider

----------

Australia Fashion online Outlet

----------

read more about Writing-Expert.com writing service

----------

Brazilian Cheap Handbags and Purses at Baginc

----------

Submit Website & Articles to Bing Web Directory

----------

Get Me Earrings

----------

Wholesale Clothing On Sammydress.com

----------

Brautkleider 2013

----------

Global Online shopping with free shipping at Handgiftbox

----------

Search