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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Petrobras is in talks with Chinese bank on financing

Posted on 10 December 2008

From Bloomberg: Petroleo Brasileiro SA, Brazil’s state-controlled oil company, is holding talks with China about financing its expansion plans amid a global credit crisis that has prompted banks to reduce lending.

“Conversations with a number of funding sources, including the Chinese development bank, are ongoing,” Petrobras investor relations manager Theodore Helms said. The company plans to invest about $30 billion this year, with about half that amount going to Brazilian exploration and production projects, he said. …. Full Article: Source


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