July 13, 2009

China Gets Ecuador Oil in Multi-Billion Dollar Deal

PetroChina will extend a billion (US) dollars in credit to Ecuador and anothher billion in a 4 year security to be arranged according to Dow Jones reports. The deal would give the Chinese oil major around 96,000 barrels per day of crude. Additionally, a Sino-Ecuador joint venture - SinoHydro-AndesJV - will build a hydroelectric plant valued at $2 Billion.....

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