Regulatory News

The Chinese oil company SINOPEC plans to invest US$2 billion in Brazil in 2013. Resources should be allocated to two segments: exploration of oil and gas in partnership with Spain's REPSOL and building platforms and vessels to operate in the oil fields. The projects were presented at a meeting of company executives with the Minister of Mines and Energy, Edison Lobão.

One SINOPEC idea is to acquire a stake in a shipyard in the country. A Chinese company invested more than US$9 billion in Brazil, with 40% of that value used to buy 40% of REPSOL Brazil two years ago.

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