Chinese investors are looking at the Petrobras share offering more closely than most.
Brazil and China have forged solid economic ties over the past few years, while the oil group’s relationship with Beijing – and the funding this has brought – has sustained it through difficult times.
The China Development Bank, China’s major re-sources lender, came to Petrobras’s aid in 2009 with a $10bn loan at a time when global credit was tight and Petrobras needed to fund a $174bn expansion plan.
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