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<Doesn’t seem to have taken long for Petrobras to find a partner! – C.Randall>
Marubeni Corp to Invest in Petrobras Refinery, Nikkei Reports
By Norie Kuboyama
Jan. 16, 2010 (Bloomberg) — Petroleo Brasileiro S.A. Brazil’s state-controlled oil producer, said Japanese trading house Marubeni Corp. will likely invest in its $20 billion oil refinery, the Nikkei newspaper reported.
The size of Marubeni’s investment has not yet been finalized, but Petrobras hopes it will take a stake of around 20 percent in the project, according to the Nikkei report, which said the two had reached a general agreement on a deal.
Brazil’s biggest oil refinery, to be located in the northeastern state of Maranhao, will be capable of processing 300,000 barrels of oil a day when it commences operations in 2013. Capacity will double by 2015, according to the newspaper.
To contact the reporter on this story: Norie Kuboyama in Tokyo at email@example.com. Last Updated: January 15, 2010 19:55 EST