The Toucan and the Dragon
Claudio Paschoa
June 19, 2013
It took a while to happen, but Petrobras and Chinese oil and petrochemical companies finally reached partnership agreements. Considering the scope of the Brazilian pre-salt and the expected growth of the Brazilian O&G market, these partnerships may become vital, as much more investments will be needed along the next 10 years. These partnerships in research and O&G exploration and production have been in negotiations for a long time but it took an official Brazilian delegation, headed by Brazilian President Dilma Rouseff, going to China, in order make it happen. It was a certainty in the market that this partnership would eventually come to be, it was just a matter of when it would happen and what it would encompass.