Brazil's Petrobras says has met 2015 obligation for China purchases | Reuters - Firstpost
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Brazil's Petrobras says has met 2015 obligation for China purchases | Reuters

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RIO DE JANEIRO Petroleo Brasileiro SA (PETR4.SA), Brazil's state-run energy company, in a statement on Monday said it has already fulfilled an obligation with China Development Bank [CHDB.UL] to buy Chinese goods and services in exchange for a $5 billion loan in 2015.

Petrobras, as the company is known, said the requirement was part of a contract it signed for the loan last year, but that the obligation had already been met because the terms allowed for it to include prior purchases of Chinese goods and services.

"There was no need to make further acquisitions from Chinese companies in order to receive the financing," Petrobras said.

The statement to Brazilian securities regulators followed a story last week about the obligation in Brazilian newspaper O Estado do S. Paulo.

(Reporting by Julina Schincariol; Editing by Leslie Adler)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Apr 5, 2016 07:15 IST

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