PDVSA signs development agreements with China

PDVSA signs development agreements with China

Venezuela China M&A

Venezuela’s state-owned oil company PDVSA signed agreements worth $2.7bn to develop oil and gas projects with China. Under the agreements, PDVSA will participate in the construction of the Nahai refinery in China. PDVSA also signed a construction contract to help increase the production of heavy crude in Venezuela at the Sinovensa joint venture the Venezuelan company operates with the China National Petroleum Company (CNPC). PDVSA and China also agreed to develop several joint ventures focused o

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