China Goes South

China’s state-owned Sincopec countinues to surprise in its desperate search for oil. The latest report is that Brazil’s state-owned Petrobras will sign a wide-ranging cooperation deal with Sinopec. The agreement is expected to be signed when Brazilian President Luiz Inacio Lula da Silva visits China in May, Petrobras said in a statement on its website.

from Neftegaz.ru