This excerpt taken from the PBR 6-K filed Nov 5, 2009.
Potential Investments in Saudi Arabia
Rio de Janeiro, November 4 2009. PETRÓLEO BRASILEIRO S/A - PETROBRAS, announces that, after a visit made to Saudi Arabia late October, it is analyzing some investment opportunities in that country.
The group visited the biggest Petrochemical Complex in Saudi Arabia, Petrochemical Jubail, where there are plans to build a fertilizer plant to produce ammonium nitrate and a green petroleum coke calcining (CVP) unit to supply the aluminum industry.
Petrobras has been negotiating not only supplying CVP to the calcining plant, but also the possibility of participating in the two projects in association with the Modern Mining Holding Company Ltd. and its affiliate Modern Chemical Company Ltd. Another meeting has been scheduled for December to continue with the discussion between the parties.
This document may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: November 4, 2009
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that are not based on historical facts and are not assurances of future results. These forward-looking statements are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.