UPDATE 1-Brazil's Petrobras, China's CNPC sign accord advancing venture [Reuters]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Reuters
UPDATE 1-Brazil's Petrobras, China's CNPC sign accord advancing venture | Reuters 2 Min Read (Adds details on accord, adds context) SAO PAULO, Oct 16 (Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA and China National Petroleum Corp Ltd have signed an agreement to study the economic viability of completing construction of the Comperj refinery in Rio de Janeiro, another step in the Chinese government getting a refining foothold in the Americas. Petrobras, as the firm is commonly known, said on Tuesday that once the studies are completed, the two parties aim to form a joint venture to complete the refinery. Petrobras would own 80 percent and a CNPC subsidiary, China National Oil and Gas Exploration and Development Co (CNODC), would own 20 percent. Under the planned accord, CNODC would also hold a 20 percent stake in the Marlim offshore oil cluster, which includes the Marlim, Voador, Marlim Sul and Marlim Leste concessions, Petrobras said. With the agreement, the Chinese m
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