May 20, 2009 (China Knowledge) - China, the world's second largest oil consumer, consented to provide US$10 billion in ten-year loans to Brazil's state-owned oil firm Petrobras to secure an oil supply for the next ten years, according to an agreement inked on Tuesday between Petrobras and China Development Bank (CDB), one of China's three policy lenders.
The loan, which will come from CDB, will f
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