Four Indian energy firms stated that they are considering a joint bid to acquire a minority stake in one of the Orinoco blocks that Venezuela is offering to foreign investors which is leading the Indian consortium. For full story, click here
Venezuelan economic authorities are fine tuning the policies to be implemented amidst falling revenues. Ricardo Sanguino, chair of the Finance Committee, National Assembly, said: We cannot say that the current price of oil is USD 60. The price has stabilized. However, the current price is not the real value of oil. For full story, click [...]
PetroChina will establish a joint venture refinery with Venezuela in 2009, a top company executive said on Friday, as the Chinese oil major pushes forward a plan to process more Venezuelan crude. For full story, click here
Venezuela will shut units at one of the country’s four oil refineries for two months to perform much-needed maintenance and increase onsite gasoline production by 11 percent. For full story, click here
Venezuelan President Hugo Chavez and Chinese Vice-President Xi Jinping have entered into an agreement to increase an existing bilateral strategic fund for oil development to $12 billion. Chavez said: Some 30 international oil companies are quantifying the reserves of heavy oil in Venezuela’s Orinoco belt, and that some 174 million bbl of crude already had been [...]
French oil major Total is interested in entering the upstream offshore Brazil to help develop the huge resources in the Santos basin and is also eying new acreage in Venezuela, the company’s CEO Christophe de Margerie said. For full story, click here
Venezuelan President Hugo Chavez plans to enter into a strategic alliance with Russia aimed at developing his country’s oil industry, according to a senior government minister. For full story, click here
PetroVietnam Exploitation and Production Corporation (PVEP), a subsidiary of the Vietnam National Oil and Gas Group (PetroVietnam), will establish a joint venture with a Venezuelan firm to exploit and refine heavy oil in Venezuela. For full story, click here
PetroVietnam Exploitation and Production Corporation (PVEP), a subsidiary of the Vietnam National Oil and Gas Group (PetroVietnam), will establish a joint venture with a Venezuelan firm to exploit and refine heavy oil in Venezuela. For full story, click here
PetroVietnam Exploitation and Production Corporation , a subsidiary of the Vietnam National Oil and Gas Group, will establish a joint venture with a Venezuelan firm to exploit and refine heavy oil in Venezuela. For full story, click here
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