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Gold/Mining/Energy : Big Dog's Boom Boom Room
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From: CommanderCricket2/17/2009 1:15:17 PM
2 Recommendations  Read Replies (1) of 206344
 
Lets see - Saudi Arabia, Russia, Venezula and now Brazil.

Impressed the Chinese can look beyond next week for their resources

Petrobras Expected To Sign Finance Deal With China Thu -Estado

DOW JONES NEWSWIRES

RIO DE JANEIRO (Dow Jones)--Brazilian state-run oil company Petrobras (PBR) is expected to sign a $10 billion financing deal with the China Development Bank on Thursday, the local Estado news agency reported Tuesday.

Petrobras and China Development Bank were expected to sign the memorandum of understanding during Chinese Vice President Xi Jinping's visit to Brazil, China ambassador to Brazil Chen Duqing told Estado. Final details about the deal would then be announced during President Luiz Inacio Lula da Silva's visit to Beijing in May, the report said.

"At this critical moment in the global crisis, developing countries like Brazil and China need to cooperate to overcome the difficulties," Chen told Estado.

Late Monday, Petrobras CEO Jose Sergio Gabrielli said the company was discussing financing packages with foreign countries in return for guaranteed future oil supplies. Petrobras needs the financing to fund its $174.4 billion five-year investment plan.

CFO Almir Barbassa said the talks involved three or four countries, as well as banks and development agencies. Petrobras executives had previously said that the company broached the subject of such financing deals with China and the U.S., as well as sovereign funds in the Mideast.
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