Petrobras nets financing deal with China

RIO DE JANEIRO, December 16, 2016 – On Thursday, Brazilian state-owned company Petrobras inked a 10-year finance agreement with China Development Bank Corporation valued at valued USD 5 billion.


The company also secured a 100,000-bopd supply deal with China National United Oil Corporation, China Zhenhua Oil Company and Chemchina Petrochemical Company, but added that the supply would be subject to “market condition.”

In related news, Petrobras in November recorded the production of its billionth barrel of pre-salt oil. It had taken the company six years to reach the milestone. That month, it also achieved a record daily pre-salt output of 1.25 million bopd.

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