PetroEcuador signs oil-backed loan

摘要

State-owned PetroEcuador has signed a $2.5bn oil-backed loan agreement with Thailand’s state-controlled PTT to help finance its investments. PetroEcuador has already taken delivery of $500mn and will receive a further $135mn this year, the finance ministry says. The firm will deliver 116.6mn bl of Oriente and Napo crude over a period of five and a half years as repayment.