Source Pravda.Ru

Petrobras Plans To Buy Devon's Argentine Unit

Petroleo Brasileiro, the state controlled Brazilian oil company, may buy the Argentine unit of America’s Devon Energy to ensure its own supplies for a refinery in Argentina.

Petrobras, which is the world's twelfth largest oil producer, said in a statement that it is considering acquiring Petrolera Santa Fe. The company is interested in Santa Fe to gain control over some of the oil supplies it buys from other producers to feed its refinery in Bahia Blanca, 800 kilometers (500 miles) south of Buenos Aires.

“What Petrobras wants in Argentina is its own crude oil,” said Ricardo Sarmiento, a Petrobras spokesman in Argentina.

Petrobras plans to buy oil companies outside its home market under a $33 billion program to boost output and help Brazil become self sufficient in oil by 2006. The company also hopes to increase dollar revenue by producing and selling more oil outside of the Brazilian market.

Visit to

&to=http://www2.petrobras.com.br/ingles/index.asp' target=_blank>PETROBRAS

Comments
MP suggests replacing Lenin's mummy with rubber figure
Moving inexorably towards war
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets
Brexit: The UK's misunderstanding of Democracy
The Amazon and the New Conquistadores
The Amazon and the New Conquistadores
Russians lose faith in their future, get ready for worse
Without INF Treaty, USA can destroy Russian nuclear weapons easily
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets
Without INF Treaty, USA can destroy Russian nuclear weapons easily
USA plays to pretend a mighty dragon that can no longer breathe fire
USA plays to pretend a mighty dragon that can no longer breathe fire
Putin sees no drama if Russia misses Davos forum
Macron challenges Trump. French independence and croissants at stake
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Moving inexorably towards war
Putin dislikes the idea of US army bases coming to Kuril Islands
Putin dislikes the idea of US army bases coming to Kuril Islands
Putin sees no drama if Russia misses Davos forum
How can Americans and Russians understand each other?