Business Services Industry
Brazil: Petrobras and Eximbank did not come into agreement.
South American Business Information, September, 1999
Petrobras and the Japanese Eximbank have not come yet into an agreement on a US$2.3bil project finance loan related to the research and development of oilfields located in Campos, State of Rio de Janeiro, Brazil. According to the Brazilian oil company, the agreement may be signed until the end of the year. The Eximbank insists to be paid in US dollars because of the risks of a payment in oil. Petrobras will have to request authorization from the central bank, which fears that in case it accepts the Japanese demands, future project finances may also request the same rights.
Source: Gazeta Mercantil Page: B-2 Date: September 9, 1999 Country: Brazil Product: Oil & Gas Extraction Company: Petrobras Event: Financial Planning SABI (South American Business...
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