Petrobras, GE Energy To Explore $20B Refinery JV

Law360, New York (June 11, 2013, 3:02 PM EDT) -- State-owned oil giant Petroleo Brasileiro SA has signed a letter of intent with South Korean conglomerate GS Energy Corp. to explore the feasibility of partnering on Petrobras' planned $20 billion Ceara refinery, the Brazilian company said Monday.

Petrobras and GS Energy — part of the Seoul-based GS Group — will conduct a feasibility study into the Korean energy firm becoming a joint venture partner on the Ceara development, known as the Premium 2 Refinery Project. The letter of intent is limited to conducting the study into...
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