Talks on new loan
Source: Bloomberg News |
April 15, 2011, Friday
|
Print Edition
Print Edition
PETROLEO Brasileiro SA, Brazil's state-run oil company, is in talks with China Development Bank Corp for a new loan after borrowing US$10 billion from the policy bank in 2009, bank Chairman Chen Yuan said yesterday.
Chen said details of any loan were yet to be agreed. Petrobras needs cash to pay for US$224 billion in planned investment through 2014, the largest spending plan of any oil company, as it seeks to increase oil and gasoline output.
Chen said details of any loan were yet to be agreed. Petrobras needs cash to pay for US$224 billion in planned investment through 2014, the largest spending plan of any oil company, as it seeks to increase oil and gasoline output.
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