Brazil: CDB will loan Petrobras $10 billion helping the company continue its investment plan, especially relating to pre-salt oil and to aid in refinancing its outstanding debt. Details of the loan have not yet been released but will be finalized before a May visit to China by the Brazilian prime minister. Petrobras agreed to sell as much as 100,000 barrels of oil this year to Sinopec and increase it over time. Petrobras is planning to invest well over $100b over five years as it develops the pre-salt finds announced last year. The company has been seeking alternatives to international bank lending and bonds to finance its spending plan in the face of an international credit crunch.Translated: Brazil's oil industry needs money to develop their massive oil deposits. China will need oil in the future to develop their nation.
Meanwhile, The One, along with financial genius Harry Reid, have invested in helping drunk chicks from Los Angeles gamble their money away in Las Vegas.
I can't write any more. This whole thing makes me sick.