Petrobras Hunting for Foreign Partners to Share Oil Costs

Petroleo Brasilero SA, the most indebted publicly traded oil company, is seeking partners to share the cost of projects from northeastern Brazil to Angola.

Petrobras this month said it’s pursuing ventures with China Petroleum & Chemical Corp., or Sinopec, and GS Energy to build refineries to supply Brazil’s growing fuel demand. The Rio de Janeiro-based company also sold half of its African assets to Grupo BTG Pactual SA for $1.5 billion.