Ex-Im Bank Guarantees Loans to US Firms Selling to Brazil’s Petrobras

The Export-Import Bank of the United States (Ex-Im Bank) has approved a US$ 39 million loan guarantee to support the sale of U.S. equipment to a wholly-owned subsidiary of Petróleo Brasileiro, S.A. (Petrobras), to be installed in one of the world’s largest oil production platforms off the coast of Brazil.

Using equipment provided by Petreco International Inc. and National Tank Co., both of Houston, Tex., and numerous other U.S. suppliers, Petrobras will build the P-52 semi-submersible floating platform to be stationed in the Roncador Oil Field, located 80 miles off Brazil’s coast in the Campos Basin. It will produce 180,000 barrels of oil and 330 million cubic feet of gas per day.


“Not only will this transaction support U.S. exports and jobs around the country, as well as Brazil’s economic development, but it also could pave the way for significant future U.S. export sales related to well drilling and completion work,” said Ex-Im Bank Chairman Philip Merrill.  “And 41 percent of the export sale involves small businesses.”


The guaranteed lender on the transaction is BNP-Paribas, New York, NY. Other export credit agencies also are contributing to the financing of the platform project.


Ex-Im Bank, the official export credit agency of the United States, is in its 71st year of helping finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance and direct loans.


In fiscal year 2004, Ex-Im Bank authorized financing to support $17.8 billion of U.S. exports worldwide.


Export-Import Bank of the United States – www.exim.gov


PRNewswire

Tags:

Ads

You May Also Like

Brazil’s New Cabinet Chief Vows to Be More Technical and Less Political

After assuming the post of Presidential Chief of Staff, Monday, June 21, Minister Dilma ...

Book Tells Story of New Arab Immigrants to Brazil: the Muslims

Demand for the book by Oswaldo Truzzi, "PatrÀ­cios – SÀ­rios e Libaneses em São ...

Brazil and Senegal Looking for a Better Partnership

Brazil and Senegal share common points in their foreign policies, chiefly because both countries ...

Yahoo Gets Lunar Eclipse Mood to Relaunch Brand in Brazil

Yahoo! Brazil is introducing a new version of their homepage together with a brand ...

Brazil’s Lula Tells His Presidential Candidate Rousseff to Act as Mother of the Poor

Brazilian president Luiz Inácio Lula da Silva compared candidate Dilma Rousseff to a mother ...

Josí© Serra Odds-on Favorite as Next Brazil President, After Lula’s Setback

Brazilian President Luiz Inácio Lula da Silva and his party, the PT (Workers Party) ...

Brazil’s Flip Flops Find Their Way to the Oscars

Havaianas flip flops will be featured in the Oscar nominee gift basket and at ...

Brazil Finds Out Principles for Responsible Investing

The United Nations Environment Program (UNEP) launched, Wednesday, May 10, in Rio, Brazil,  the ...

Brazil’s Agribusiness Exports Grow 13% to Almost US$ 6 Billion in August

Brazil's agribusiness export revenues in the month of August reached US$ 5.8 billion. The ...

World Cup in Brazil Gives Big Boost to Beer and Soft Drink Drinking

The maker of Budweiser, Stella Artois and Corona beers experienced a sharp surge in ...