April 16 (Bloomberg) -- Petroleo Brasileiro SA is in talks with countries including Canada, the U.S., Denmark Singapore and South Korea about potential loans to finance suppliers in Brazil’s offshore oil industry.

The loans would help Brazil’s state oil company, known as Petrobras, to finance suppliers of ships, rigs and oil platforms, Chief Executive Officer Jose Sergio Gabrielli said today at the World Economic Forum in Rio de Janeiro.

Petrobras plans to spend $174.4 billion through the end of 2013 to raise output by more than half to 3.66 million barrels a day. The company is seeking ways to cut costs and limit borrowing as a world economic slowdown reduces lending to suppliers, Gabrielli said Feb. 11.

“We are seeking long-term proposals that will also help these countries stimulate their own industry,” Gabrielli said. “Because we are, by far the most active offshore oil area in the world, there is interest.”

Almir Barbassa, Petrobras’ chief financial officer, is on a tour of Asia seeking to arrange finance and attract suppliers to set up in Brazil or create joint ventures to help develop Brazil’s oil resources, Gabrielli said.

To contact the editor responsible for this story: Dale Crofts at +54-11-4321-7735 or dcrofts@bloomberg.net

Last Updated: April 16, 2009 12:04 EDT