Exclusive: Brazil’s Petrobras plans China subsidiary in push to boost ties, CEO says

(Reuters) - Petrobras (PETR4.SA) plans to create a Chinese subsidiary, Chief Executive Jean Paul Prates told Reuters, as Brazil's state-run oil firm pushes to strengthen relations with the Asian nation that had "chilled" under former President Jair Bolsonaro. Prates said Petrobras aims to open the Chinese subsidiary next year, after getting formal approval. He said the move... Continue Reading →

Petrobras signs agreements with Chinese companies

Petróleo Brasileiro S.A. – Petrobras informs that a mission was carried out to China, during which Petrobras CEO Jean Paul Prates met with CEOs of Chinese companies and signed cooperation agreements in the energy sector, as specified below: MoU with China National Offshore Oil Corporation - CNOOC, in order to extend collaboration and explore the... Continue Reading →

Petrobras signs agreements with Chinese banks

Petróleo Brasileiro S.A. – Petrobras informs that it has signed memorandums of understanding (MOUs) with the China Development Bank (CDB) and the Bank of China, aimed at (i) evaluating investment opportunities and cooperation in low carbon and green finance initiatives, (ii) financing Petrobras' supply chain, and (iii) increasing and facilitating commercial and financial exchanges between... Continue Reading →

China’s CNOOC posts 11.3% fall in H1 profit

(Reuters) - Chinese national oil and gas company CNOOC Ltd (0883.HK), on Thursday posted a 11.3% fall in first-half profit as lower realised oil prices squeezed margins despite higher output. Net profit fell to 63.8 billion yuan ($8.76 billion) from 71.9 billion a year earlier, CNOOC said in a filing to the Hong Kong Stock Exchange.... Continue Reading →

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