PdDVSA Adds Chinese Funds

Petroleos de Venezuela (PdVSA) has signed a $4.15bn loan agreement with the China Development Bank, it says, to increase production at the Sinovensa joint venture. Financing details weren’t provided, and officials at the state-owned oil producer were not available for comment. The deal follows agreements last month for loans from Rosneft, Chevron and Schlumberger, totaling 4.5bn.