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Russia seeks to invest in oil, gas in Brazil

Russia seeks to invest in oil, gas in Brazil

BRASILIA: Russia’s Gazprom is considering investments in oil and natural gas in Brazil and may bid for exploration rights in the country’s 13th-Round concession auction in October, Shakarbek Osmonov, director for Brazil and Latin America, told Reuters.

Gazprom, the world’s largest natural gas producer, is also considering offers for stakes in fields and exploration areas being put up for sale by Brazil’s state-run oil company Petroleo Brasileiro SA, Osmonov said on the sidelines of an event in Rio de Janeiro.

Petrobras, as the company is known, is trying to sell $13.7 billion of assets to boost cash for investment and to pay debt.