Jan. 24 (Bloomberg) -- Petroleos de Venezuela SA will “surely” enter into the Pernambuco refinery project along with Petroleo Brasileiro SA, company president Rafael Ramirez told reporters today.

PDVSA is waiting for Brazilian banks to verify loan guarantees provided by the Venezuelan state-oil company including $1.5 billion of cash, he said.

--Editor: Daniel Cancel

To contact the reporter on this story: Jose Orozco in Caracas at jorozco8@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net