Brazil: Petrobras and Sinopec to work together on refinery project

Petrobras has announced that it has signed a letter of intent with China's Sinopec for developing a joint study on the Premium 1 Refinery Project, in the state of Maranhão.

The letter of intent is based on Sinopec’s interest in examining the feasibility of setting up a joint venture with Petrobras for the implementation of Premium Refinery 1.

The letter of intent does not imply any commitment or obligation on the parties to enter into future trade or operational agreements based on the outcome of the feasibility study.