Brazil’s Petrobras, China Development Bank sign cooperation deal

Brazil’s state-run oil company, Petroleo Brasileiro SA (PETR4.SA), entered a strategic agreement with China Development Bank [CHDB.UL] on Saturday that will allow it to explore opportunities on the Chinese financial market, Valor Economico newspaper reported.

The memorandum, called a “wide-ranging strategic cooperation agreement,” was signed during a visit by Brazilian President Michel Temer, the newspaper reported from Beijing.

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