Petrobras Aims to Lure Chinese Investments to Brazil's Naval Sector
April 29, 2025
Brazilian state-run energy giant Petrobras seeks to attract fresh Chinese investments to Brazil's oil and gas sector, especially in the naval sector, it said on Tuesday, as Chief Executive Magda Chambriard visits the Asian country.
Chambriard and President Luiz Inacio Lula da Silva's chief of staff, Rui Costa, had a meeting with Chinese business people and government officials in Beijing on Monday, the company said in a statement.
They presented an overview of Petrobras' activities, according to the firm, highlighting the potential to expand shipyards in Latin America's largest country.
"We are here to propose expanding the partnership between Brazil and China in oil and gas investments," Chambriard said.
"We understand that there are opportunities for Chinese companies to work in partnership with Brazilian shipyards, and believe that increasing our cooperation would bring benefits to our countries," Chambriard said.
Lula, a former metalworker, has made it a priority to generate jobs at local shipyards - a sector that has struggled for years - with Petrobras, which has already commissioned several new ships.
The oil giant's transportation and logistics subsidiary Transpetro expects to commission 25 ships by 2030.
(Reuters)
