Brazil's Petrobras weighs Saudi Arabia investments

SAO PAULO, Nov 4 (Reuters) - Brazilian energy giant Petrobras (PETR4.SA: Quote)(PBR.N: Quote) is weighing investment opportunities in Saudi Arabia after a visit to the country in October, Petrobras said in a regulatory filing on Wednesday.

Petrobras visited Petrochemical Jubail, where there are plans to build a fertilizer plant to produce ammonium nitrate and a green petroleum coke calcining (CVP) unit to supply the aluminum industry, the filing said.

State-controlled Petrobras is negotiating supplying CVP to the calcining plant as well as possibly participating in the two projects in association with the Modern Mining Holding Company Ltd. and its affiliate Modern Chemical Company Ltd. A December meeting has been scheduled to continue discussions, the filing added.

Petrobras would be key in tapping massive Brazilian offshore oil reserves under a proposed overhaul of the country's oil legislation.

In addition, Brazil's president, Luiz Inacio Lula da Silva, has been vocal in criticizing companies that he feels have not done enough to invest in the country.

(Reporting by Luciana Lopez; Editing by David Gregorio)