Petrobras deal a new way to go abroad

Financing deal seen as 'first step' in expanded energy cooperation with Brazilian firms

China is always looking for new ways to go overseas in the energy sector, and one example of that effort is a $3.5 billion financing deal between Brazilian state oil giant Petrobras SA and the China Development Bank, experts said on Thursday.

Petrobras, which has been facing financial difficulties, signed the deal with the bank under a cooperation agreement covering 2015 and 2016, the company said.