BP and its Brazilian counterpart Petróleo Brasileiro (Petrobras) have signed a memorandum of understanding to form a strategic alliance, exploring upstream, downstream, trading and low carbon opportunities, within Brazil and further afield. The agreement is the first in Latin America between two major oil companies that are both based outside their home countries. We started by joining forces in the last bidding rounds and now we are working to expand the partnership further, beyond upstream.” The UK company has been doing business in Brazil for over 60 years, undertaking oil and gas exploration, supplying fuels and lubricants, and developing biofuels.
BP and its Brazilian counterpart Petróleo Brasileiro (Petrobras) have signed a memorandum of understanding to form a strategic alliance, exploring upstream, downstream, trading and low carbon opportunities, within Brazil and further afield. The agreement is the first in Latin America between two major oil companies that are both based outside their home countries. The UK company has been doing business in Brazil for over 60 years, undertaking oil and gas exploration, supplying fuels and lubricants, and developing biofuels.