Petrobras begins talks on 'strategic oil supply' to Japan: CFO

Tokyo (Platts)–Brazil’s Petrobras has begun talks with state-owned Japan Bank for
International Cooperation about “strategic oil supply” to Japan from sources
including Brazil’s offshore pre-salt reservoirs, a senior company executive
told Platts Thursday.

The talks also include discussion of financial support from JBIC for
Brazil’s downstream sector throughout the supply chain.

“We are discussing different subjects and opportunities,” Petrobras’
chief financial officer Almir Barbassa said in an interview, following his
latest meeting with JBIC in Tokyo.

“We do not have a clear structure yet. We are still discussing a
framework, conceptions of transaction,” Barbassa said. “As JBIC has been an
important finance source for Petrobras, we are leading further development, an
opportunity where Japan can be supplied if they need oil.”

“This is not to sell crude oil right now,” Barbassa said. “This is the
strategic oil supply in five years for example if there is lack of oil. We can
grant some volume of oil.”

Platts