Financial

Petrobras – Execution of Commercial and Facility Agreements with the China Development Bank

Rio de Janeiro, December 16, 2016, Petróleo Brasileiro SA – Petrobras informs that it executed yesterday a Facility Agreement with the China Development Bank (CDB) in the amount of US$ 5 billion for a 10-year term.  The Agreement is the result of the Term Sheet signed between the parties, as disclosed on February 26, 2016.

Petrobras also signed yesterday a commercial agreement with each of the following Chinese companies: China National United Oil Corporation, China Zhenhua Oil Co. Ltd., and Chemchina Petrochemical Co. Ltd. The three agreements together establish a preferred supply of 100 thousand barrels of oil per day in total volume to those companies, following market conditions, for a 10-year period.

Categories: Financial, Petrobras

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