Beijing on November 5th news (Liu Xin) Brazil's largest National Oil Co -- Brazil's national oil company (Petroleo Brasileiro SA) announced on Wednesday, and China has signed a total amount of up to $10000000000 in loans for oil deal.

    Brazil's state oil company announcement said, Brazil's state oil company also began with the China National Development Bank launched the negotiations in May of this year, the final agreement was signed Tuesday in the fall. According to the agreement, China National Development Bank provided a loan of $10000000000 to Brazil's national oil company for technical upgrading equipment modification and increase productivity, in return for Brazil's national oil company will in the next 10 years China's Petrochemical Industries Co (China Petroleum& Chemical Corp) supply of oil.

    China Economic Net obtained data shows, Brazil's national oil company, the first year of supply standard is 150000 barrels of oil a day, then 9 years of supply standards up to 200000 barrels of oil a day. However, detailed provisions for the China Development Bank to provide loans to Brazil's national oil company, still can make nothing of it.

    National Development Bank is a policy bank directly under the leadership of the State Council, founded in 1994 March, currently in the country already has 32 branches and 4 representative offices. The main task of National Development Bank is providing long-term funding support to national infrastructure, basic industries and pillar industries, and guide social capital investment, alleviate bottlenecks in economic development. Electric power, highway, railway, petroleum and petrochemical, coal, post and telecommunications, water conservancy, forestry public infrastructure and is the key to support the main business areas and loans of the State Development bank. In recent years, the National Development Bank to provide financing or directly to the Chinese enterprises overseas acquisitions to provide loans to the government of the project host country.