Brazilian state-run oil and gas company Petrobras (BVMF:PETR4) and China Energy International will be analysing joint business opportunities in renewable energy generation and green hydrogen production.
Through a newly-created working group, the partners plan to develop initiatives already for the second half of 2023, Petrobras announced last week.
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The president of the Chinese state-owned company, Lyu Zexiang, has stated that a large portion of the USD 20 billion (EUR 18.15bn) earmarked for investments outside China could be allocated to Brazil, focusing on renewable energy generation, as well as green hydrogen and ammonia production.
The working group’s composition will be defined in the coming weeks by Petrobras and China Energy International. On the Brazilian side, the executive manager of Institutional Relations at Petrobras, Joao Paulo Madruga, will be responsible for naming representatives.
(USD 1.0 = EUR 0.908)
