February 19, 2009

Energy Security: Brazil - China Oil Deal, Possible Petrobras Loan

Brazil will supply China with up to 150,000 barrels of oil per day under an agreement signed today in Brasilia. And China may invest $10 billion (US dollars) in Petrobras to develop the giant new Santos Basin offshore oil fields. Details would be finalized before Brazilian President Lula goes to Beijing in May...

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