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LatinNews Daily - 05 July 2018

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In brief: Brazil

* Brazil’s state oil company Petrobras has signed a letter of intent with China National Petroleum Corporation (CNPC) to conclude construction of the Complexo Petroquímico do Rio de Janeiro (Comperj) petrochemical and refinery project. Petrobras had already spent some US$14bn on the Comperj before it was suspended in 2015 in the midst of the ‘Operation Car Wash’ corruption investigation. “The strategic association will strengthen ties between the companies and contribute to deepening the global strategic association between Brazil and China, both members of the BRICS,” a Petrobras statement read.