Petrobras president Jean-Paul Plates said that the state-owned company plans to establish a Petrobras subsidiary in China in 2024. The objective, according to Plates, would be to promote a closer oil trading partnership between the two countries. The president of Petrobras said that Brazilian President Lula will announce this plan at the celebration of the 50th anniversary of the establishment of diplomatic relations between China and Brazil.

Plates said that Petrobras has started to resume its internationalization process in 2023. Therefore, the objective of establishing a subsidiary in China is to allow it to expand cooperation in various areas in Asia, including related investments in construction, engineering technology, fertilizers plants and refineries.

Petrobras opened its first office in China in 2004, during President Lula's first term. However, the Petrobras office in China was closed in 2019.

(Source: Military Society Magazine)