Petrobras signs agreement with two Chinese banks

On the 28th of August, Petrobras signed two memorandums of understanding with the China Development Bank (CDB) and the Bank of China. The agreements with the Chinese banks have a term of five years.

According to Petrobras, one of the aims of the agreements involves assessing investment opportunities and cooperation in low-carbon initiatives and green finance.

The memorandums also aim to help finance Petrobras’ domestic supply chain. Another objective is to increase trade between the company and Chinese companies.

The memorandums are “non-binding” and after the conclusion of analyses and estimates, the projects that will be in a position to be considered will go through the appropriate internal approval bodies, in accordance with the company’s governance, Petrobras said.

(Source: Globo)