The Venezuelan MPE3 oil field development project loan lasted for 2 years. It was borrowed by a joint venture composed of PetroChina and Petroleos de Venezuela (hereinafter referred to as PDVSA), and the loan was provided by the China Development Bank (hereinafter referred to as China Development Bank).

This project loan is priced based on the local borrowing interest rate level in Venezuela, achieving a higher rate of return for Chinese financial companies. The financial company participates behind the scenes and realizes the financial interests of the group company; the project loan clearly defines PDVSA

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The engineering responsibility in this project has improved the governance structure of the joint venture (capital disbursements are jointly signed by China and Venezuela), cleared up the long-term dividend arrears owed by Venezuela to China, and related the oil field development project EPC, which is owned by China National Petroleum Corporation. As the trader and purchaser of oil products for the project, Lianyou has maximized the benefits of cooperation between Chinese energy companies and Venezuela.

I don’t know if this is it?