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Petrobras Signs Agreements With Chinese Banks on Low-Carbon Investment

By Jeffrey T. Lewis


SÃO PAULO--Petróleo Brasileiro signed memoranda of understanding with the China Development Bank and the Bank of China to study investment opportunities in low-carbon and green finance initiatives.

Petrobras, as the Brazilian oil company is known, said Monday evening that the non-binding agreements will also look at financing Petrobras's supply chain and boosting the oil company's financial and trade relations with Chinese companies.

The five-year agreements are part of Petrobras's strategic plan and are intended to help prepare the company for a more sustainable future, the oil company said.

Any projects emerging from the study process will then be evaluated by Petrobras based on cost, time and return before being approved or rejected by the company.


Write to Jeffrey T. Lewis at

(END) Dow Jones Newswires

August 29, 2023 08:21 ET (12:21 GMT)

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