Petrobras in Talks With Sinopec to Develop Brazil Refineries
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Petroleo Brasileiro SA, the world’s most indebted publicly traded oil company, is in talks with China Petroleum & Chemical Corp. to build a refinery in Brazil to meet growing domestic demand, Brazil’s energy minister said.
The state-controlled crude producers are also discussing partnerships for oil block auctions this year in Brazil, Edison Lobao told reporters in Brasilia today. Brazil’s government advised Petrobras Chief Executive Officer Maria das Gracas Foster to seek partnerships in China, where she is now, he said.