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Sovereign Wealth Funds Briefing - Categorized | Investment

China, U.A.E. offer to fund Brazil oil drilling

Posted on 10 December 2008

From Laht.com: China and the United Arab Emirates have offered Brazil resources to fund production from its huge offshore oil fields, Energy Minister Edisao Lobao said in an interview published Monday by the daily Folha de Sao Paulo.

“China is offering Petrobras $10 billion initially,” Lobao said in response to a question about the Brazilian state-controlled oil company’s investment plans amid the global credit crisis….. Full Article: Source


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