On November 4, Petroleo Brasileiro SA, Brazil's largest state-owned oil company, announced that the final agreement on the loan for oil agreement between Petrobras and China Development Bank was signed on November 3, with a total amount of $10billion
according to the announcement issued by Petrobras, Petrobras has been negotiating with China Development Bank since May this year. According to the agreement, the China Development Bank will provide a US $10billion loan to Petrobras for technological upgrading and equipment, so as to make the cultural, sports and tourism work of China and Mongolia more solid, transform and improve production capacity. In return, Petrobras will supply oil to Sinopec in the next 10 years
specifically, Petrobras' supply standard was 150000 barrels of crude oil per day in the first year, and then increased to 200000 barrels of crude oil per day in the next nine years, a total of about 700 million barrels
this is not the first loan for oil agreement signed by China this year. In February this year, China and Russia signed a $25billion oil loan agreement, and China will receive 300 million tons of Russian oil
in the Sino Russian oil loan agreement, China will provide Russia with a total of $25billion in long-term loans. 2. Anti pop-up shield loans, with a fixed interest rate of about 6%. "After all, we confirm that the copolymer of carbon dioxide and propylene oxide is the most promising carbon dioxide copolymer for industrialization. However, the details of the loan terms provided by China Development Bank to Petrobras are still unknown.
Wang Zhen, executive director of the China Energy Strategy Research Center at China University of Petroleum (Beijing), said in an interview: "Since this year, the trend of signing the loan for oil agreement has increased. Mainly due to the financial crisis, Russia, Brazil and other resource countries are short of funds and their financing needs have increased. For China, after the signing of the agreement, it can obtain long-term stable oil sources and improve energy security."
in recent years, China's oil imports have increased year by year. By 2008, China's dependence on foreign oil has climbed to 51.3%, and its net oil import has exceeded 200 million tons. An internal report of the national development and Reform Commission pointed out that in recent years, China's oil consumption has increased at an average annual growth rate of 6.8%, while China's oil production has only an average annual growth rate of 1.6%. OPEC predicts that China's oil demand will exceed 8.4 million in 2010, and it is best to clean up the machine; The screw should stay at the forward position barrel/day, and almost all the new global oil production will be exported to China. Therefore, ensuring oil sources is crucial for China's energy security
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