Magda Chambriard, CEO of Brazil's state-run oil company Petrobras, stated on Tuesday that the firm is seeking foreign investment to boost its local shipyards.

Chambriard, a recent visit to China, has said that Petrobras wants to work with strong shipyards in order to build more ships in China.

Chambriard, a journalist at the OTC Conference in Houston, told journalists that "we are travelling and visiting other countries to invite companies".

Former metalworker Luiz inacio Lula da silva, the president of Brazil, is making it a top priority to create jobs in local shipyards, a sector which has been struggling for years. Petrobras already has several new ships in service.

Transpetro, the oil company's subsidiary for transportation and logistics, expects to commission at least 25 ships before 2030.

Renata Baruzzi, director of engineering, technology, and innovation, said that "what we have in our plan is much larger than what we could do in Brazil." Why not China? We need our partners to help us. (Reporting and writing by Marianna Pararaga; editing by Ni Williams)

(source: Reuters)