Brazil’s two largest companies team up to work together in several projects

Friday, April 20th 2012 - 04:36 UTC

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Petrobras and mining company Vale, the two biggest companies in Brazil, have signed a memorandum of understanding to pursue joint ventures in various areas, Petrobras said. Read full article

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GeoffWard2
This is a particularly subtle and sensitive way of encouraging (private) Vale to work with the Brasilian government through the ('public') Petrobras.

It has been a 'carrot and stick' process, but it should succeed really rather well - as long as the commercial imperative remains at the forefront of the political mind.
Certainly, the vulnerable position of Petrobras in Argentina wrt nationalisation should help the Brasilian government to keep its focus.

Both these companies remain international giants, at the same time as aiding the Brasilian economy.
The partnership's plans and performances will be VERY closely monitored around the world.
Apr 20th, 2012 - 07:58 am - Link - Report abuse 0
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