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01/20/2009

Barter On The Big Stage - Ships For Oil

The Brazilian government has suggested a barter deal to South Korea�s major shipbuilders and the state-run oil developer KNOC (Korea National Oil Corp).

The arrangement essentially has Korea, the world�s largest shipbuilders, providing Brazil with drill ships or floating production, storage, and offloading platforms in return for stakes in its oil fields in the Santos area, which KNOC would manage.

The barter plan was proposed by the South American nation when the two countries held summit talks in Brazil this past November.



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