Brazil’s Petrobras Dreaming Of Deals with Japan and South Korea

The President of Petrobras – Petróleo Brasileiro S.A., José Eduardo Dutra, wants to attract Asian investments to Brazil, and strengthen the existing relationship between the Brazilian government-owned corporation and Korean and Japanese companies.

Dutra, plus the Downstream Director, Paulo Roberto Costa, and the CFO and Investor Relations Director, José Sérgio Gabrielli, arrived this Monday, May 23, in Seoul, South Korea, where they will have business meetings until the 25th.

According to the company’s press service, on the 26th, Petrobras executives will join the Brazilian delegation (government and entrepreneurs) headed by President Luiz Inácio Lula da Silva, in Tokyo, Japan, to participate on business roundtables and meetings with Japanese authorities.

During these meetings, memorandums of understanding will be signed with Japanese companies and banks, among them, the Japan Bank for International Cooperation (JBIC), of which Petrobras is the non-Japanese company that holds the highest volume of investments, estimated at US$ 6 billion, with the participation of large Japanese groups.

JBIC resources have been applied by Petrobras in some projects, such as the gas pipelines in the Northeast and Southeast of Brazil, the production development at Bacia de Campos (in the state of Rio de Janeiro), and the modernization and expansion of refineries.

Petrobras informed that, since last year, it has sporadically exported Liquefied Natural Gas (GLP) to Japan, but without a fixed contract.

Regarding South Korea, the company awaits results of studies established by the memorandum of understanding signed last year with Korea National Oil Corporation, about projects of common interest in the areas of oil and natural gas.

Agência Brasil

Tags:

Ads

You May Also Like

Let’s Have Open Markets, Says Bush Before Leaving to Argentina and Brazil

President George W. Bush described United States relations with Latin America as "good" and ...

Mercosur Summit Ignores Venezuela/Colombia Conflict and Is Hailed as Big Success

South America’s economic block Mercosur concluded Tuesday in Argentina one of its most successful ...

Children dictionary teaches Brazil about Arab world

A Is For Arab, in New Brazilian Dictionary for Brazilian Children

Brazilian children have just won an ABC to the Arab culture. In the book ...

No News on Kidnapped Brazilian Reporter After Globo Airs Organized Crimes’s Tape

More than 12 hours after having broadcasted a video containing a message of the ...

Brazil Calls UN Rapporteur Arrogant and a Liar

The president of Brazil’s National Indian Foundation (FUNAI), Mércio Gomes, used the term " ...

Rio Number 1 Destination for Foreigners in Southern Hemisphere

A survey issued by consultancy firm Euromonitor International shows that Rio de Janeiro, host ...

Terror Before Brazil Air Crash: ‘Slow Down!’, ‘I Can’t!’

A Brazilian congressional inquiry on Brazil's deadliest air accident last month, which left 199 ...

Hedgefund.net's logo

Brazil and Latin America Get New Hedge Fund Benchmark

HedgeFund.net (HFN) has announced the launch of a new hedge fund benchmark for funds ...

Brazil to the Rescue of Meatpacking Sector with US$ 5 Billion

Brazil will offer a ten billion reais credit line from BNDES, the National Development ...

Brazilian Surplus Keeps Fast Pace While Beef Exports Beat Record

Brazilian exports added up to US$ 3.01 billion in the first five working days ...