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Sunday, May 10, 2009

China for the "loans-for-oil" has been the total funding up to 45 billion U.S. dollars

By Zou himfr

China National Petroleum Corporation (China National Petroleum Corp, for short: China National Petroleum Corporation) broadcast Friday that the state-owned oil and gas Kazakhstan has marked a structure affirmation on oil-for-loans, will use the total allowance of five billion U.S. dollars of borrowings for with the Central Asian nations to elaborate oil and gas possibilities for collaboration between industries.

This is the year in China since the marking of the fifth lend affirmation for oil. As part of the affirmation, China National Petroleum Corporation will be another oil and gas output in Kazakhstan's part of the shares. CNPC did not supply more data on the minutia of the acquisition transaction.

Since the beginning of this year, China has signed with three countries up to the total amount of 39 billion U.S. dollars of loans-for-oil agreement. February 17 this year, China and Russia signed a total capital of 25 billion U.S. dollars for the loans-for-oil agreement. China's State Development Bank is committed to the Russian oil industry companies (Rosneft) and the Russian pipeline transport company (Transneft) provide 15 billion and 100 million dollars worth of loans used to support oil and natural gas resources in Siberia to the Chinese suppliers.

February 18, China and Brazil signalled a 10 billion U.S. dollars of loans-for-oil harmony, China's State Development Bank, the Brazilian state-owned oil business Petrobras to deliver 10 billion U.S. dollars of hires in exchange for a unwavering give of the future. Under the harmony, Petrobras will be the market price of exports to China once a day 100000-160000 boxes with a lid of crude oil.

February 21, China and Venezuela marked four billion U.S. dollars the allowance of the loans-for-oil agreement. China's State Development Bank of Venezuela state oil business PDVSA to four billion U.S. dollars to supply borrowings in exchange for a firm promise to a steady provide of the latter.

March 13 between China and Angola signalled a one billion U.S. dollars the measure of the loans-for-oil agreement. Angola since the end of 2002 lasted for 22 years since the civil war, China has granted to Angola a total of come seal five billion U.S. dollars of oil-related loans.

Kazakhstan signed together with five billion U.S. dollars of loans-for-oil agreement, this year China used oil on the loans for a total funding of up to 45 billion U.S. dollars - 21392

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