China to the rescue of cash strapped Petrobras with $2bn for a 10-year lease of two platforms

Wednesday, October 14th 2015 - 08:01 UTC

Full article 7 comments

Brazil's state-run oil firm Petroleo Brasileiro SA will raise $2 billion through a 10-year leasing contract with China's Industrial and Commercial Bank of China Leasing, the Brazilian company said in a statement on Tuesday. Read full article

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ChrisR
So the big question is does China pay for the oil or is the rig lease fee it?

I think we can guess the answer to that one.
Oct 14th, 2015 - 12:47 pm - Link - Report abuse 0
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Pugol-H
I can’t work out from this what they have actually done, other than the Chinese are shelling out another 2 bil.
Oct 14th, 2015 - 03:45 pm - Link - Report abuse 0
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Jack Bauer
It's just the start of China getting her claws well into Petrobrás. When PB defaults, we'll all see how nice the Chinese are.
Oct 14th, 2015 - 05:37 pm - Link - Report abuse 0
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ilsen
soon the Chinese will own Petrobras... it's what they do.
Oct 15th, 2015 - 12:15 am - Link - Report abuse 0
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Jack Bauer
Quite frankly I couldn't give a damn who owns PB, as long as it's productive and its shares pay good dividends....
Oct 15th, 2015 - 05:12 pm - Link - Report abuse 0
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ilsen
China will own Brazil soon, it's what they do.
Oct 16th, 2015 - 12:41 am - Link - Report abuse 0
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Jack Bauer
They can't be much worse than the current shit that's in power. At least one has a pretty good idea of what to expect from them. I worked for a Taiwanese company for quite some time, and their MO is quite clear.......encroach slowly, working towards a full takeover. They like to be in control and do things their way.
Oct 16th, 2015 - 06:52 pm - Link - Report abuse 0
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