The Minister of People’s Power for Oil and Mining, Eulogio Del Pino, denied the alleged refusal of China to grant loans to Venezuela. «It’s an ill-fated opinion matrix on an extraordinary relationship that China and Venezuela have in all areas».
Del Pino said that since last year «has been setting the portfolio of oil projects, for which the Chinese Government has approved us a loan of 5 billion dollars.» Thus it was announced during the «Siete Preguntas» (Seven Questions) program, broadcast by Telesur.
«We have secured the participation of two Chinese companies in projects with a new recruitment scheme. The new scheme allows the beginning, drilling, connecting wells, both in Lake Maracaibo and the Orinoco Oil Strip, and to defer payment so that we have a financing to be paid with the same production oil futures», said Del Pino.
The Minister for Oil and Mining announced that, soon, «towards the end of the year, we will have the next Binational China – Venezuela Commission, where there are a number of projects that are being working in the mining and oil area and which are advancing».
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