Venezuela's PDVSA Reaches $1.45B In Finance Deals With Oil Firms



Reuters

CARACAS, Nov 4 (Reuters) - Venezuelan state oil company PDVSA on Friday announced financing deals totaling nearly $1.45 billion with local firm Delta Petroleum and India's ONGC that will be used to raise production at joint venture operations.

Venezuelan company Delta Petroleum, which holds a 40 percent stake in the Petrodelta joint venture with PDVSA, will provide $1.13 billion in financing to boost the joint venture's output, PDVSA said.

ONGC will provide $318 million to finance increased crude production at the San Cristobal field, where it holds a 40 percent stake in a joint venture with PDVSA.

(Writing by Brian Ellsworth; Editing by Bernard Orr)



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