Norway’s Statoil and Brazil’s Petrobras announce joint venture, target Brazilian projects

Norwegian energy giant Statoil and Brazil’s Petrobras signed an agreement for joint biofuel ventures. The involves both development opportunities in Brazil and internationally. The two state-owned energy companies are partners on oil projects in Brazil, Nigeria and in the Gulf of Mexico. The partnership will include investment in Brazilian biofuel projects.

Brazil’s President Lula is on a four-country Scandinavian tour promoting biofuels trade and technology partnerships.

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