Petrobras Inks MoU with Norwegian Credit Agency

On Tuesday, at Petrobras headquarters in Rio de Janeiro, Financial and Investor Relations Director of Petrobras, Almir Barbassa, was host to Wenche Nistad, President of the Garanti-Instituttet for Eksportkreditt (GIEK), the Norwegian export credit agency.

They signed a Memorandum of Understanding aimed at promoting closer institutional cooperation. The MoU allows for up to US$ 1 billion in credit guarantees to cover exports from Norwegian companies to Petrobras as part of the company’s financing strategy for projects in the 2012-2016 Business and Management Plan.

A previous MoU signed by Petrobras and GIEK in 2010 resulted in the provision of US$ 1 billion in guarantees by the Norwegian agency, enabling Petrobras to finance goods and services from Norwegian companies in the oil and gas sector.

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LNG World News Staff, January 16, 2013; Image: Petrobras