Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Shares  >  BOLSA DE VALORES DE SAO PAULO  >  Petroleo Brasileiro Petrobras SA    PETR4

News SummaryMost relevantAll newsSector news 

Petroleo Brasileiro Petrobras SA : Brazil's Rousseff Meets Nigerian Leader for Trade Talks

02/23/2013 | 07:04am US/Eastern

ABUJA (AFP)--Brazil's President Dilma Rousseff met with Nigeria's leader Goodluck Jonathan in Abuja on Saturday for talks that were expected to focus on boosting trade, notably in the energy sector.

Oil-rich Nigeria is Brazil's main commercial partner in Africa, with bilateral trade soaring 500% from $1.5 billion in 2002 to $9 billion last year.

Brazil's state-owned oil company Petrobras (PBR, PETR4.BR) has invested hundreds of millions of dollars in Nigeria's coal, oil, natural gas and alternative energy sectors.

Experts say that Brazil is looking to expand energy ties with Nigeria, Africa's top oil producer, to fuel its growing economy.

At a major industry conference in Abuja last month, Nigeria's Oil Minister Diezani Alison-Madueke said that growing oil and gas production in the United States had begun affecting Nigerian exports and that the west African nation would have to look to different markets.

The fall is US exports was due in part to a rise in American shale oil production, including through new technologies like fracking, Alison-Madueke said.

Rousseff arrived in Nigeria after attending the Africa-South America summit in Equatorial Guinea, also a significant west African oil producer.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

React to this article
07/31 CESAR : EFE News Briefs for Friday, July 31 (End of the day)
07/31 PETROLEO BRASILEIRO PETROBRAS : Petrobras begins production in Iracema Norte
07/31DJPetrobras Tightens Controls in Wake of Price-Fixing Scandal
07/31DJPetrobras Tightens Controls in Wake of Price-Fixing Scandal
07/31 PETROLEO BRASILEIRO PETROBRAS : Brazil's Petrobras recovers portion of losses fr..
07/31 PETROLEO BRASILEIRO PETROBRAS : Clarification on News: Contract with Braskem
07/31 PETROLEO BRASILEIRO PETROBRAS : Provisional Ban Cancellation on Bidding Processe..
07/31 PETROLEO BRASILEIRO PETROBRAS : Clarification on News: Board of Directors’..
07/31 PETROLEO BRASILEIRO PETROBRAS : Clarification on News: Petrobras Distribuidora o..
07/31 PETROLEO BRASILEIRO PETROBRAS : Oil and Natural Gas Production on June
Duration : Period :
Petroleo Brasileiro Petrob Technical Analysis Chart | PETR4 | BRPETRACNPR6 | 4-Traders
Income Statement Evolution
More Financials