SAN ANTONIO Aug 8 Venezuela's state-run oil
company PDVSA has started using China Citic Bank to
collect money from crude and fuel sales instead of Portugal's
Banco Espirito Santo, according to a company document
seen by Reuters on Friday.
PDVSA told buyers this week that payments can still be made
in dollars or euros. Every payment used to be made at its
accounts with Banco Espirito Santo, which Portugal said this
month it would rescue because of financial woes.
PDVSA's move comes as Venezuela tries to lift exports of
crude and products to China to 1 million barrels per day (bpd),
part of broader oil-for-loan deals that have allowed the South
American country to receive more than $40 billion in credits
(Reporting by Marianna Parraga; Editing by Terry Wade)