Petrobras, CDB agree credit facility

Brazil’s oil and gas giant Petrobras said it has signed the initial credit facility agreement under a cooperation deal with China Development Bank to be implemented during 2015 and 2016. 

The agreement was signed in China during a visit by Petrobras CFO, Ivan Monteiro, the company informed in a statement.

The agreement between the CDB and Petrobras Global Trading covers an amount of US$ 3.5 billion.

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Image: Petrobras