BRAZIL: Aid Bid

When Petrobrás, Brazil's government-owned oil monopoly, asked foreign oil companies late last year to submit bids for supplying 90,000 bbl. of crude oil a day to a projected new refinery in Rio de Janeiro, there was a string attached. In passing, Petrobrás suggested that the oil companies might like to offer financial aid towards construction of the refinery. Last week word came from Brazil that Petrobrás had accepted a Texas Co. offer to supply 15,000 bbl. of crude a day and to make a fiveyear, 6% loan of $6,000,000 to help cover...

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