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UK Offers $1 Billion Credit Line to Petrobras for Deep-sea Drilling - Report

The U.K. government has offered a $1 billion to credit line to help Brazil's state-owned oil company, Petroleo Brasileiro SA (PBR), or Petrobras, drill for oil and natural gas in the South Atlantic, The Guardian newspaper reports Thursday. The funding was revealed in the annual report of Vince Cable's export credit guarantee department, despite a warning from the department's own advisors that the deep-sea projects carries significant environmental risks, the paper writes. Full story: Write to Sarah Kent at

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