A Chinese company is leading a partnership with Indian and Iranian companies that will invest up to US$10 billion in building an oil refinery in the northern Brazilian state of Maranhão, O Globo reports.

The Brazilian newspaper quotes Brazilian Oil and Gas Secretary Márcio Félix as saying negotiations between Brazilian officials and the partners, which he did not identify, were due to be concluded by April next year.

Mr Félix said the refinery would have a capacity of 300,000 barrels of crude per day.

Government officials and Chinese executives visited the site of the refinery last week, O Globo says.

 

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