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Amaunet

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Amaunet

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Re: Amaunet post# 273

Friday, 03/26/2004 11:23:08 PM

Friday, March 26, 2004 11:23:08 PM

Post# of 9338
China and Brazil cement their alliance. A country such as Brazil can go a long way in guaranteeing its sovereignty or territorial integrity by forging a partnership with China. Whoever attacks Brazil attacks China. Both Russia and China are helping Brazil gain the capability to launch ICBMs with nuclear warheads.
-Am


Brazil Petrobras, China's Sinopec To Unveil Deals In May

Saturday March 27, 3:47 AM

ITAGUAI, Brazil (Dow Jones)--Brazilian oil giant Petroleo Brasileiro (PBR), or Petrobras, and China Petroleum & Chemical Corp. (SNP), or Sinopec, are looking into forging partnerships in oil exploration and production, refining and fuel sales, a top executive said Friday.

"Everybody wants to be in the Chinese market, so we are also studying ways to do business with them," Petrobras' chief executive Jose Eduardo Dutra told journalists on the sidelines of a visit to an industrial facility about 85 kilometers southeast of Rio de Janeiro.

He said Petrobras has started to negotiate a cooperation accord that is expected to be signed during a state visit by President Luiz Inacio Lula da Silva to the Asian country in May.

Dutra also said Sinopec is interested in participating in Brazil's sixth oil exploration-and-production licensing round, scheduled for August.

"They may bid in partnership with us for some of the blocks on offer," the chief executive said.

Petrobras had already said in a statement last month that the agreement would focus on "cooperation and partnerships to study opportunities in oil exploration and production, oil and gas sales, refining and petrochemicals."

The South American oil giant said in the statement the companies recognized partnerships would allow them to develop "large-scale projects" that would benefit China and Brazil and the company's shareholders.

Meanwhile, Dutra said Petrobras will likely announce its new strategic plan in May, after the board of director reviews it in a meeting on April 29.

The new plan includes a revamped business plan until 2010, including a revision in investments, and also lays down guidelines through 2015.



http://sg.biz.yahoo.com/040326/15/3j2tg.html





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