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Message: FWIW - China/Las Cristinas - last para - El Nacional today
Venezuela-China agree on USD 5 billion-loan under joint fund
Venezuelan Minister of Petroleum Rafael Ramírez announced China National Petroleum Corporation will participate in production of oil block Junín 10, Orinoco Oil Belt
Ramírez did not give further details about the terms and conditions of the new loan (File photo)
EL UNIVERSAL
Wednesday September 18, 2013 12:19 PM
Without disclosing any details about the terms and conditions, Venezuelan Minister of Petroleum and President of oil giant Pdvsa, Rafael Ramírez, announced Wednesday via Twitter that Venezuela and China have agreed on a new loan to the former –under the China-Venezuela fund– amounting to USD 5 billion.
Ramírez is currently in China as part of a mission ahead of an upcoming official visit by Venezuelan President Nicolás Maduro.
During his visit to China, the minister of petroleum also met with representatives from Eximbank of China, from which Venezuela will receive a loan amounting to USD 390 million for the construction of a bridge for Venezuelan state-owned petrochemical company Pequiven in Morón, northwest Venezuela. Further, Venezuela also entered into agreements with Citic for the development of gold-bearing project Las Cristinas; and China National Petroleum Corporation, for oil production in Junín 10 block, Orinoco Oil Belt, whose production target is 220,000 oil barrels per day. The investment amounts to USD 14 billion.
Ramírez is currently in China as part of a mission ahead of an upcoming official visit by Venezuelan President Nicolás Maduro.
During his visit to China, the minister of petroleum also met with representatives from Eximbank of China, from which Venezuela will receive a loan amounting to USD 390 million for the construction of a bridge for Venezuelan state-owned petrochemical company Pequiven in Morón, northwest Venezuela. Further, Venezuela also entered into agreements with Citic for the development of gold-bearing project Las Cristinas; and China National Petroleum Corporation, for oil production in Junín 10 block, Orinoco Oil Belt, whose production target is 220,000 oil barrels per day. The investment amounts to USD 14 billion.
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