NAME GAME.The failure of state-run oil giant Petrobras PETROBRAS Petróleo Brasileiro SA (Brazilian oil company) to change its name to "Petrobrax"-- a bid to give itself a more international-sounding moniker--has not affected the company's global plans. Petrobras recently signed a US$1 billion deal with Spanish-Argentine oil company Repsol-YPF to boost Petrobras' refining refining, any of various processes for separating impurities from crude or semifinished materials. It includes the finer processes of metallurgy, the fractional distillation of petroleum into its commercial products, and the purifying of cane, beet, and maple sugar presence outside Brazil Brazil (brəzĭl`), Port. Brasil, officially Federative Republic of Brazil, republic (2005 est. pop. 186,113,000), 3,286,470 sq mi (8,511,965 sq km), E South America. by giving it control of 700 gas stations operated by Repsol-YPF in Argentina Argentina (ärjəntē`nə, Span. ärhāntē`nä), officially Argentine Republic, republic (2005 est. pop. 39,538,000), 1,072,157 sq mi (2,776,889 sq km), S South America. . In return, Repsol-YPF will gain access to offshore fields and gas stations in Brazil. Overall, the company plans to invest $5 billion through 2010. Petrobras officials wanted to introduce a name change in a global publicity push that included soccer star Pele as an international spokesperson. But the public overwhelming opposed renaming what is seen as a national icon. |
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