Petróleos de Venezuela, SA (PDVSA) ordered economic resources to ensure its participation in the construction of the refinery José Inacio Abreu e Lima, in Brazil, along with its counterpart Petrobras energy.

The People's Minister for Petroleum and Mining and president of PDVSA, Rafael Ramirez, said the money was provided through the National Bank of Economic and Social Development (BNDES) of Brazil.

"The money we are putting is a warranty and there is not stronger guarantee than the cash itself, so now it's up to BNDES to make arrangements for us to enter in the refinery," said Ramirez at the end of the 8th. Petrocaribe Ministerial Council made on Friday in Caracas, Venezuela.

The Minister said the agreement was reached in the framework of the visit of the Federative Republic of Brazil´s President, Dilma Rousseff, during the bilateral meeting with President of the Bolivarian Republic of Venezuela, Hugo Chavez.

"In the bilateral meeting we reached a 60-day extension, between Petrobras and PDVSA, because it was needed some time to the proceedings with BNDES," he said.

The economic resource in cash, plus the line of credit line of $ 1,500 million with China Development Bank, will ensure the extraordinary progress of the refinery in Pernambuco.