Petrobras (NYSE:PBR), a Brazilian state-run oil company, announced on Monday that it has signed non-binding memorandums of understanding (MOUs) with the China Development Bank and the Bank of China with the aim of pursuing opportunities in low carbon and green finance.
Other goals of the partnerships are financing Petrobras (NYSE:PBR)’ supply chain and increasing and facilitating commercial and financial exchanges between Petrobras (NYSE:PBR) and Chinese companies, Petrobras (NYSE:PBR) said in a statement.
The agreements have a five-year term and align with Petrobras’ sustainability-focused 2024-28 strategic plan, the company said.
Any potential projects rising from the agreements will only go ahead once the necessary technical analyses have been completed and official cost, time, and return estimates have been carried out, it noted.
Petrobras’ United States-listed shares were up 0.3% at US$14.54 at noon on Tuesday.
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