UKEF backs £300m loan to Petrobras
16 May 2018

UK Export Finance is guaranteeing a loan of almost £300 million to Brazilian oil giant Petrobras. The line of credit is being provided to allow Petrobras to finance the supply of oil and gas equipment and services from Baker Hughes (BHGE), a GE company, for operations off the coast of Brazil.   It covers exploration and production activities within the Campos Basin, Santos Basin and Espirito Santo Basin in the southern Atlantic Ocean. UKEF said BHGE is the only currently identified UK exporter but others may be identified in the future.

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