Caracas—Venezuela’s PDVSA and Spain’s Repsol are very close to an agreement under which Repsol would lend PDVSA $1.2 billion to fund increased production at their Petroquiriquire joint venture, company leaders said Wednesday. “We are about to reach the final financing agreement,” Repsol Chairman and CEO Antonio Brufau told reporters after meeting with PDVSA President Rafael Ramirez in Caracas.
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