Wednesday, 22 September 2010

Russia ready to do business with Brazil

Russia's Energy Ministry has declared its interest in the Brazilian energy sector. A senior energy ministry official, Stanislav Dorzhinkevich, said that, “the Russian government is prepared to provide multifaceted support for the expansion of co-operation between Russian and Brazilian companies”.

Brazilian and Russian officials met to discuss prospective business during a gas conference in Rio de Janeiro. The Russian delegation included officials from Gazprom, Zarubezhneft, Power Machines and the Russian Energy Ministry, while the Brazilian delegation was represented by officials from the Brazilian National Agency of Petroleum and Petrobras.

Co-operation in oil production is likely to involve deep offshore oil fields, and these, “practical steps for co-operation were considered,” during the meeting, said the Russian energy ministry.

“It is not clear what advantages Russia offers for oil production. It is much more geo-strategic. Russia lends its pre-eminence and reputation to Brazil and allows it to say that it is diversifying on its own terms and own rights,” said Senior Energy Analyst at IHS Energy in Washington Andrew Neff.

Source: The Moscow Times

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