Brazil’s state-controlled oil company Petrobras says it has signed a US$5-billion financing deal with state-run China Development Bank, The Wall Street Journal reports.

The report says the 10-year financing agreement coincided with the signing of a commercial contract between Petrobras and three Chinese firms.

The Brazilian oil firm has agreed to sell 100,000 barrels of oil a day for the next decade to China National United Oil Corp, China Zhenhua Oil Co. Ltd., and Chemchina Petrochemical Co. Ltd.

The newspaper quotes analysts saying the deal is viewed as being important to Petrobras’ cash flow, given the weakness in Brazil’s currency and the falling price of diesel.

It’s not the first time the Brazilian company has gone to Chinese lenders. Petrobras took a US$1-billion loan from the Export-Import Bank of China earlier this year and US$5 billion in loans from China Development Bank last year.