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Petrobras sings agreements with Sinopec and Sinochem

Petrobras signed agreements with Chinese companies Sinopec (China Petrochemical Corporation) and Sinochem (Sinochem Corporation). The agreements were part of the business agenda established during the official visit of President Rousseff to China.

With Sinopec, Petrobras signed a cooperation agreement for exchange of technological knowledge in the fields of geophysics, geology, engineering and oil reservoirs.

With Sinochem, Petrobras signed a Memorandum of Understanding for Strategic Cooperation with the objective to identify and facilitate business opportunities in the areas of exploration and production, marketing and oil recovery from mature fields.

Petrobras and Sinopec have expressed willingness to seek business opportunities in several areas, expanding commercial relations existing between the two companies. President Gabrielli highlighted the importance of Chinese companies establishing themselves in Brazil. Sinopec’s president said his company’s interest in partnering in exploration and production.



I always appreciate a company that can sing.


The Chinese have been lining up every oil resource they can ever since they made an unsolicited bid for Unocal years ago. I would rather that they turn coal, natural gas and biomass into fuels, but this is part of the path that they have chosen.


China has a huge task ahead of it. With 1.1 Billion to feed and house and provide healthcare to - not to mention the vast energy demand. So vast the prospect of "appropriating" resources of other nations (sub-Sahara) becomes an acceptable solution.

Or, China will need to embark on an aggressive nuclear program with hundreds of reactors. The community of nations will frown on huge increases in radiative nuclear. Far less so with low or zero residual radiation nuclear processes (eg thorium fluoride).


Both China (1.32B) and India (1.21B), with very high growth rates will require much more energy in the next 20+ years. Coal, Oil, NG/SG, alternative fuel, Hydro, Solar and Wind will all be in high demand.

The run on alternative fuels will put more pressure on food availability and price. Poor nations that relied on low cost surplus food will suffer most. Poor people living in industrialized nations will also go hungry as food prices double again in the next 5 to 8 years.

Increased energy efficiency could help if introduced quickly enough.


The story in the U.S. 100 years ago is being played out in China. People moving from the country to the city in search of jobs. If China can keep them happy and productive out in the country, they can head off trouble before it begins.

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