Brazil’s state-run energy company Petrobras signed a memorandum of understanding (MoU) with the China National Chemical Energy Company (CNCEC) covering several areas, especially renewable energies and energy transition.
The partnership also provides for the evaluation of potential commercial agreements in the areas of oil exploration, fertilizer production from natural gas and other sources, and production development.
Furthermore, the MoU covers potential collaboration on refining, biorefining and petrochemicals, engineering, construction and services, as well as research, development and innovation.
The agreement, for which no further details were revealed, will last two years and will be activated immediately with the joint analysis of fertilizer and petrochemical assets.