Petrobras, the Brazilian state-owned oil company, has signed four memorandums of understanding (MOUs) with prominent Chinese energy corporations, including China Energy, SINOPEC, CNOOC, and Citic Construction. These agreements were formalized during Petrobras' strategic mission to China led by President Jean Paul Prates and several directors.

The MOUs, signed with the CEOs of each company, aim to explore potential joint business opportunities in various segments, including exploration and production, energy transition, refining, petrochemicals, renewable energy, hydrogen, fertilizers, ammonia, and carbon capture. The collaborations are intended to encompass Brazil, China, and other regions, including Bolivia and Suriname.

Here's an overview of the MOUs:

1. China Energy International Group Co., Ltd. (China Energy): This MOU seeks to identify potential business opportunities in Brazil related to renewable energy generation and sustainable hydrogen and ammonia production.

2. China Petrochemical Corporation (SINOPEC): SINOPEC and Petrobras will collaborate in researching and assessing opportunities in exploration and production, refining, commercialization, energy transition projects, carbon capture, and other areas in Brazil or abroad.

3. China National Offshore Oil Corporation (CNOOC): This agreement aims to extend cooperation and explore potential global collaborations in the energy sector, covering areas of mutual interest, including oil and gas exploration and production, refining, and petrochemicals.

4. Citic Construction Co. Ltd. (CITIC): While a non-disclosure agreement was signed with CITIC, it paves the way for discussions on potential business opportunities and joint projects, including the formation of joint ventures for investments in Brazil and other locations.

These MOUs reinforce Petrobras' commitment to strengthening its commercial relationship with leading Chinese companies. The agreements align with Petrobras' strategic goals for preparing the company for a more sustainable future, contributing to the success of the energy transition. The memorandums are non-binding, and committees comprising representatives from each company will be formed to monitor progress, conduct technical analyses, and evaluate potential projects in the future.

During the mission to Beijing, Petrobras also signed agreements with two major Chinese banks, the Bank of China and the China Development Bank (CDB), both of which operate in the oil, gas, and power sectors. Additionally, Petrobras' representatives visited several important Chinese institutions and companies in the energy sector to further strengthen collaborations and explore opportunities.