trending Market Intelligence /marketintelligence/en/news-insights/trending/fooguazfc_leb4oddiooog2 content esgSubNav
In This List

Petrobras, CNPC ink business model agreement for Comperj refinery, Marlim stake

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Video

S&P Capital IQ Pro | Powered by Expert Insights

451 Research Podcast

Next in Tech | Episode 41: IoT's Role in Energy and Utilities


Petrobras, CNPC ink business model agreement for Comperj refinery, Marlim stake

Following up to a heads of agreement for a strategic partnership signed on July 4, Petróleo Brasileiro SA - Petrobras said Oct. 16 that it inked a business model agreement with China National Petroleum Corp., or CNPC, subsidiary China National Oil and Gas Exploration and Development Co.

The agreement details the steps of a feasibility study, to be conducted by specialists from Petrobras and CNPC, for the Comperj refinery. Once the costs and benefits are quantified, a joint venture comprised of Petrobras with an 80% interest and CNPC with a 20% will be formed to conclude and operate the refinery.

In addition, the project also includes CNPC taking a 20% participation stake in the Marlim cluster, comprised of the Marlim, Voador, Marlim Sul and Marlim Leste fields. However, Petrobras will retain an 80% interest in the cluster and will remain as the field's operator.