Petrobras is about to close the agreement with China’s oil company

Commodities and oil
Goldman Sachs announces dynamism in the prices of commodities
May 28, 2018
Huelga, protesta LATAM
The LATAM Airlines unit on strike is studying a new proposal
June 6, 2018

Petrobras is about to close the agreement with China’s oil company

China, Brasil

The Brazilian state company, Petróleo Brasileiro SA, better known as Petrobras, is about to sign the agreement that will allow them to join the Chinese refining and extraction company, known as China National Petroleum Corp Ltd.

According to what was reported by two sources that are witnesses of the operation, this could give the Asian country its first participation in the refinery sector in America, according to what Reuters commented during this week’s session.

In the business model that was designed, according to the comments of the witnesses, Petrobras will transfer to the Asian refinery a large part of the operation of the Brazilian oil deposits in the basin located on the coast of Rio de Janeiro, You will also have the right to use the new Comperj refinery.

In addition, they added that there will be an agreement, but it is very complex, because they must have an integrated solution and the agreement is only weeks away from being fulfilled.

According to some other statements revealed by Reuters, it was learned that the refinery needs an investment of approximately 3,000 million dollars to reach the initial capacity of 165 thousand barrels per day and also commented that it is not clear if Petrobras would pay part of this invoice.

Petrobras, about to sign an agreement with a Chinese oil company

Petrobras, about to sign an agreement with a Chinese oil company

The two companies, both Brazilian and Chinese, did not go into detail when the sources consulted about it, but it is common knowledge that both signed an agreement during 2017 where they specified the understanding or commitment to register. a strategic partnership for oil exploration and production.

PEMEX ambitious with production goals

For the year 2019, the State of Petróleos de México, better known as PEMEX, established as a main production objective a figure of 1.95 million BOP.

In the framework of events in the capital of France, the senior official said that the current production is 1.9 million BOP with a growth projection of up to 1.97 million BOP for the last month of the year.

On the other hand, TOTAL of France announced that they are staying in Venezuela, despite the inconveniences and problems that the country is experiencing. The president of the company commented that they will not surrender and that they will continue to operate in Venezuela, despite the social and economic instability that is affecting the country that is a recognized member of OPEC.

However, they commented that there are some problems that are affecting the company’s personnel in the Latin American country. Despite the difficulties, the company will continue in Venezuela, but it is difficult for the workers due to the lack of energy and water, which is why they have been forced to remove the families they considered unreasonable to be there.

The importance of staying in the country in crisis is that people will remember that the company was there, even in the worst moments, also commented that there is a potential for them to recover faster.

Leave a Reply

Your email address will not be published. Required fields are marked *