Petrobras, Chinese banks sign MoUs

Aug. 30, 2023
Petrobras has signed memorandum of understandings (MoUs) with the main Chinese banks operating in the oil, gas and energy industry: the China Development Bank and the Bank of China.

Offshore staff

BEIJING, China  Petrobras has signed memorandum of understandings (MoUs) with the main Chinese banks operating in the oil, gas and energy industry: the China Development Bank and the Bank of China.

These cover the assessment of opportunities for investment and cooperation in low-carbon initiatives and green finance; financial assistance for the domestic supply chain in Brazil; and increased commercial and financial exchanges between Petrobras and Chinese companies.

Both of the five-year agreements are non-binding and in line with the strategic elements of Petrobras’ 2024-28 Strategic Plan, intended to help the company prepare for the energy transition.

Signing of documents with the two banks were just one of various initiatives of Petrobras' mission to China, aimed at developing partnerships and business with large Chinese companies and the country’s financial institutions in E&P, the energy transition, and refining and processing.

“We are going to look for opportunities and work in partnership with companies from China and other countries,” said Petrobras CEO Jean Paul Prates.

08.30.2023

Courtesy Altera Infrastructure Holdings
Photo 53641391 © M R Fakhrurrozi | Dreamstime.com
Courtesy Svenska Petroleum Exploration