PDVSA signs $4B loan agreement with China Development Bank for expansion of heavy oil production in Orinoco
Green Car Congress
JUNE 4, 2013
Venezuela’s PDVSA signed a $4.0-billion, billion, 8-year loan agreement with China Development Bank (CDB) for boosting production at the Sinovensa heavy oil joint venture in the Orinoco belt from 140,000 barrels per day to 330,000 barrels per day by 2016. Venezuela will also receive two other loans from China: one for $1.5
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