Venezuela said it would tap $2.2 billion
from a Chinese credit line to boost oil output at joint ventures with China
National Petroleum Corp, in a boost for the South American country's struggling
oil industry and a show of unity with a key ally. CNPC, China's largest state
energy group, and Venezuela's state oil company PDVSA [PDVSA.UL] will seek to
boost production in the OPEC country by around 277,000 barrels per day,
President Nicolas Maduro said in a televised address. Funds will come from a
credit line of up to $9 billion with China, Maduro said after a meeting with
CNPC in Caracas on Thursday. More… 
Friday, November 18, 2016
Venezuela taps China credit line for $2.2 billion oil output push
Venezuela said it would tap $2.2 billion
from a Chinese credit line to boost oil output at joint ventures with China
National Petroleum Corp, in a boost for the South American country's struggling
oil industry and a show of unity with a key ally. CNPC, China's largest state
energy group, and Venezuela's state oil company PDVSA [PDVSA.UL] will seek to
boost production in the OPEC country by around 277,000 barrels per day,
President Nicolas Maduro said in a televised address. Funds will come from a
credit line of up to $9 billion with China, Maduro said after a meeting with
CNPC in Caracas on Thursday. More… 
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment