PetroChina advised its U.S. unit to avoid
any involvement in future loans to Petroleos de Venezuela SA after the U.S.
imposed sanctions on Venezuela last month, according to people with knowledge
of the situation. PetroChina Americas has been an intermediary for much of the
$45 billion in loans that China has provided Venezuela in the past decade. The
company received jet fuel and gasoline blendstock as repayment of cash
designated to develop Venezuela’s oil reserves, the world’s largest. PetroChina
then exported some of the fuel to the U.S., according to Customs data compiled
by Bloomberg. More… 
Thursday, September 21, 2017
PetroChina Americas Is Said to Review Venezuela Oil-for-Loans
PetroChina advised its U.S. unit to avoid
any involvement in future loans to Petroleos de Venezuela SA after the U.S.
imposed sanctions on Venezuela last month, according to people with knowledge
of the situation. PetroChina Americas has been an intermediary for much of the
$45 billion in loans that China has provided Venezuela in the past decade. The
company received jet fuel and gasoline blendstock as repayment of cash
designated to develop Venezuela’s oil reserves, the world’s largest. PetroChina
then exported some of the fuel to the U.S., according to Customs data compiled
by Bloomberg. More… 
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