PDVSA has November deadline to secure loan for Brazil refinery

25 June 2012 18:22  [Source: ICIS news]

CAMPINAS, Brazil (ICIS)--Petroleos de Venezuela SA (PDVSA) has a November deadline to secure a loan to pay for its stake in the Abreu e Lima refinery near Recife in Brazil, Petrobras said on Monday.

Petrobras had planned to develop the refinery with PDVSA. PDVSA would own a 40% stake in the project.

Petrobras CEO Maria da Graca Foster said PDVSA is working hard to present the financial guarantees by the November deadline.

“We do not see any other partner for Abreu e Lima project than PDVSA. We want them as our partner,” the executive said during a press conference.

Foster said soon she would visit the Venezuelan company to review the project.

By: Leo Siqueira
+1 713 525 2600

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