R–R wins £418m turbine contract

Rolls-Royce said yesterday it had won contracts for gas turbines worth $650 million (£418m) from Brazilian oil and gas firm Petrobras.

The turbines will be delivered in groups of four, with the first units scheduled for delivery in the first quarter of 2013, and will support Petrobras’ production activities off the Brazilian coast.

The announcement came as UK Export Finance said it was guaranteeing a $1 billion line of credit for Petrobras’ investment in British goods and services. Scottish oil and gas services firms may be among those to benefit from the move.