China Pumps Another $4B Into Venezuelan State-Run Oil Co.

Law360, New York (June 6, 2013, 2:27 PM EDT) -- State-run oil company Petroleos de Venezuela SA has secured a new $4 billion credit line with the Export-Import Bank of China for oil field development, the second $4 billion Chinese loan secured by PDVSA this week, Venezuela's oil minister said Thursday.

Speaking in Tokyo as part of a tour of Asian countries, Venezuelan Oil Minister Rafael Ramirez confirmed that the oil-rich South American country has secured $4 billion in new funding from China. PDVSA had announced Wednesday that it was in talks with China Ex-Im Bank...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.