Regional: Petrobras, Total in strategic alliance

Brazil’s Petrobras and France’s Total on 24 October signed a memorandum of understanding in Rio de Janeiro, setting out the general framework for a strategic alliance covering upstream and downstream activities in Brazil and internationally. In the first phase, the companies intend to focus on upstream and gas to power. Petrobras will offer opportunities to Total to partner in projects in Brazil, while Total will offer Petrobras opportunities outside Brazil, enabling the companies to combine their expertise in deep-water development.