Last Website Updates

Brazil Extra - Latest News

2010-04-08

Sinopec Group Completes $1.3 Billion Brazil Pipeline

China Petrochemical Corp., the nation's second-biggest energy producer, completed a $1.3 billion natural-gas pipeline in Brazil before a visit by Chinese President Hu Jintao seeking to deepen bilateral ties.

The 1,377-kilometer (856-mile) link is the company's largest overseas service contract, Sinopec Group, as China Petrochemical is known, said in a statement on its Web site yesterday. The pipeline goes through 72 cities and can transport 20 million cubic meters of gas a day, according to the statement.

China is expanding investment in Brazil's oil, mining and steel industries to meet rising demand in the world's fastest- growing major economy. During Hu's visit on April 15-16, Wuhan Iron & Steel Group will sign a contract with Brazilian port operator LLX Logistica SA to build a $4.7 billion steel plant, O Estado de S. Paulo reported on March 28.

Brazil and China may also announce a $10 billion loan agreement between Petroleo Brasileiro SA and China Development Bank Corp., the Sao Paulo-based newspaper said, without saying where it got the information.

Petrobras, as the Rio de Janeiro-based company is known, received $10 billion of loans from China last year to help finance the development of Tupi field, the largest oil discovery in the Americas in more than three decades.
In return, state-controlled Petrobras has been supplying oil to China, the world's second-biggest energy user and Brazil's leading trade partner in 2009.

Recent oil discoveries by Petrobras and OGX Petroleo e Gas Participacoes SA show that Brazil's petroleum fields are "virtually virgin," OGX Chairman Eike Batista said on March 31.

No comments:

Post a Comment

About Me and My Group

My photo
Houston / Rio de Janeio, TX - USA - With affiliates in Brazil, Brazil
For more info. visit : www.khen-group.com Trust, Assurance, Experience, and Commitment. We know the issues, we know the process, we know the culture, and we draw on that to provide complete solutions for your business abroad. Areas of expertise include , recruiting, business solutions, marketing strategy, branding, trainning, market research and business development. Visit www.khen-group.com

Contact me :

Click here

Expats

living in the USA