Petrobras seals deals with China
Source: Agencies |
November 5, 2009, Thursday
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Print Edition
Print Edition
BRAZIL'S state-run oil company Petrobras says it has signed a US$10-billion loan and a separate supply deal with China.
The company says in a statement yesterday the deals were signed on Tuesday in China. The tentative deals had been made public in May.
The loan from the China Development Bank Corp is a 10-year agreement. Terms of the financing were not announced.
Petroleo Brasileiro SA also inked a long-term supply deal with a subsidiary of China's top refinery Sinopec.
Petrobras will ship 150,000 barrels of oil a day to Unipec Asia for one year. It will send 200,000 barrels a day for nine years after that.
The company says in a statement yesterday the deals were signed on Tuesday in China. The tentative deals had been made public in May.
The loan from the China Development Bank Corp is a 10-year agreement. Terms of the financing were not announced.
Petroleo Brasileiro SA also inked a long-term supply deal with a subsidiary of China's top refinery Sinopec.
Petrobras will ship 150,000 barrels of oil a day to Unipec Asia for one year. It will send 200,000 barrels a day for nine years after that.
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