Here's Why Shares of Petrobras Are Higher Tuesday

Shares of Petrobras were higher Tuesday after announcing that it will partner with Norway's Statoil.
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Shares of Petrobras (PBR) - Get Report were higher Tuesday after announcing that it will partner with Norway's Statoil to evaluate cooperation in future tenders and in Brazilian producing fields. Under the agreement, the companies will join forces to create proposals for their joint participation in future bids for exploratory areas. They also plan to work together to make the best possible use of natural gas, including infrastructure and monetization. The agreement indicates that both companies intend to work together for a two-year period to implement these projects.

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