Petrobras said it would not use crude oil as colla

2022-08-08
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Petrobras said it would not use crude oil as collateral for obtaining loans from China

Jose Sergio Gabrielli, CEO of petrolebrasileiro, Brazil's state-owned oil giant, said on the 20th that although the international oil renewable plastic granulator is also a major energy consumer in China, the trend of price changes is still unclear, but the company will not use crude oil as part of the collateral for its $10billion loan from China

Gabrielli also said that the late negotiations between Petrobras and China Development Bank on the US $10billion financing plan are ongoing, and the relevant details need to be finalized. He stressed that Petrobras will definitely implement the additional agreement related to the above loan to find out the key elements through the flow chart, and export crude oil accounting for about 5% of the company's daily output to PetroChina (601857, Guba) chemical group company at the market price every day

according to the memorandum of understanding signed by Sinopec, CDB and Petrobras earlier this year, CDB will explore the financing mode based on the oil trade cooperation between Petrobras and Sinopec, so as to support Petrobras' capital investment in oil exploration, exploitation, refining and other fields, The loan will be mainly repaid by Brazil, but in this statistical electronic pull machine, the oil company's oil export income to China will be repaid; CDB will support Petrobras to import equipment such as liquefied natural gas stations, drilling platforms and transportation ships from China, and implement the infrastructure construction project of Brazil using ICX (Global modified process 1) technology

according to Brazilian media reports, the details of the cooperation agreement will not be officially announced until Brazilian President Lula visits China next month

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