Petrobras secures massive Danish credit

EKF, the Danish export credit agency, has now issued a credit worth millions to Brazilian oil giant Petrobras, which will help secure Danish companies a part in the country's growth, writes Danish newspaper Børsen.

Photo: Kjetil Alsvik/Statoil

USD 526.5 million EKF credit to Brazilian Petrobras will hopefully induce the oil giant to use Danish subcontractors in its futher ventures. In that way, the company won't have to worry about financing, writes Børsen. The credit marks the single largest guarantee issued to a single entity by EKF.

But EKF was not the one to spot the potential of Petrobras, says CEO of EKF, Anette Eberhard, to Børsen, rather, that would be the Danish companies. The state-owned oil company plans to invest USD 224 million globally from 2011 to 2015, and Danish companies have already gotten a piece of the pie, with orders for a total of USD 2.1 billion from the company so far.

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