BRAZILIAN oil giant Petrobras is forging new alliances to keep the company’s production plans on course in a cash-constrained environment. In the latest move, Petrobras and French major Total agreed to link up on projects along the oil and gas chain, possibly including the power sector. In a press conference at the Rio Oil & Gas conference this week in Rio de Janeiro, Petrobras chief executive Pedro Parente and Total counterpart Patrick Pouyanne said a memorandum of understanding was expected to mature into joint business deals before the end of the year.

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