Brazil’s Petrobras Looks to Foreign Investments to Boost Local Shipyards

In a bid to revitalize its local shipyards, Brazil’s state-run oil firm Petrobras is actively seeking foreign investments, according to CEO Magda Chambriard. The company is on the lookout for strong partners to collaborate with local shipyards in constructing more ships within the country.

Chambriard recently visited China to discuss potential partnerships with government officials and firms. “We are traveling and visiting other countries to invite companies to participate in our endeavors,” she stated during the OTC conference in Houston.

President Luiz Inacio Lula da Silva has prioritized job creation in local shipyards, a sector that has faced challenges in recent years. Petrobras has already initiated the commissioning of several new ships, with its transportation and logistics subsidiary Transpetro aiming to commission 25 ships by 2030.

“Our business plan exceeds our current capacity in Brazil,” noted Renata Baruzzi, director for engineering, technology, and innovation at Petrobras. “We require assistance from our partners, and China could be a valuable collaborator in this regard.”

(Source: Reuters – Reporting by Marianna Parraga, writing by Fabio Teixeira; Editing by Nia Williams)