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China Bails Out Petrobras's $14 Billion Refinery Misadventure

Thursday, July 5, 2018   (0 Comments)
Posted by: Annie Nguyen
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China Bails Out Petrobras's $14 Billion Refinery Misadventure

Bloomberg News

July 4, 2018

China National Petroleum Corp plans to help complete a refinery in Rio de Janeiro that already cost Brazil’s state-controlled oil company Petrobras $14 billion before it was halted amid a widespread graft investigation.

CNPC, as the Chinese producer is known, signed a letter of intent adding the Comperj refinery to a partnership the two companies signed last year. The agreement... 

https://www.bloomberg.com/news/articles/2018-07-04/china-bails-out-petrobras-14-billion-refinery-misadventure


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