Brazil Wins Nigeria Pact
Published: March 14, 1984
RIO DE JANEIRO, March 13—Brazil has won an international bidding contest to refine Nigerian oil this year, the state oil company, Petrobras, announced today.
The $1.2 billion agreement calls for Brazil to import Nigerian crude and return refined gasoline, jet fuel and diesel oil to Nigeria, a Petrobras spokesman said. He added that the accord would allow Brazil to reduce its idle refining capacity and earn a margin of profit.
Brazil imports about two-thirds of the one million barrels of oil it consumes daily, mostly from the Middle East. It buys 10,000 barrels daily from Nigeria.
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