Russia, Venezuela Agree Massive $14bn Investment Deal
President of Venezuela Nicolas Maduro says his country has reached an agreement with Russia, which will see investment of $14 billion in the oil and gas sector over the next few years. The agreement was reached between the Venezuelan state oil firm, PDVSA (Petroleos de Venezuela) and the Russian oil …
Rosneft and PDVSA Signed a Second Long-Term Contract for Supplies of Oil and Oil Products
Rosneft Group and PDVSA signed a long-term contract for supplies of oil and oil products of Venezuelan production. The document envisages the supplies of over 1.6 mln t of oil and 9 mln t of oil products to the Rosneft Group within 5 years. Commenting on the signing Rosneft Head …
Venezuela Ordered to Pay ExxonMobil $1.6bn Over Nationalization – Both Sides Claim Victory
A World Bank arbitration tribunal on Thursday ordered Venezuela to pay ExxonMobil Corp about $1.6 billion to compensate for oil nationalization in 2007, though state oil company PDVSA expects to eventually pay closer to $1 billion. Venezuela’s socialist government hailed the long-awaited decision as a victory for its “sovereignty,” given …
Rosneft and PDVSA Signed an Agreement to Arrange the Training of Venezuelan Citizens in Rosneft Partner Universities
Rosneft President Igor Sechin and People’s Minister for Energy & Petroleum, PDVSA President Rafael Ramirez signed an agreement to arrange the training of citizens of the Bolivarian Republic of Venezuela in Rosneft partner universities.The document was signed in Caracas during the visit of Igor Sechin to Venezuela. As part of …
Rosneft and PDVSA To Set Up Engineering & Construction JV
Rosneft President Igor Sechin and PDVSA Ingeniería y Construcción S.A. President Fadi Kabboul signed an Engineering & Construction JV Establishment and Management Agreement. The document was signed in Caracas during the visit of Igor Sechin to Venezuela. Pursuant to the document, Rosneft and PDVSA will set up a joint venture …
Rosneft and PDVSA Signed a Range of Agreements on Offshore Projects and Drilling Technologies
Rosneft President and Chairman of the Management Board Igor Sechin and Venezuelan Minister of Petroleum and Mining and PDVSA President Rafael Ramirez signed a Cooperation Agreement to implement offshore projects in Rio-Caribe and Mejillones blocks (Phase II of the Mariscal Sucre Project). As part of the document, the parties express …
Igor Sechin Held Negotiations in Venezuela
Rosneft President Igor Sechin held talks with the Minister of Popular Power for Oil and Mining and President of Petróleos de Venezuela, SA (PDVSA ), Rafael Ramirez Carreno. The parties discussed a wide range of issues regarding current cooperation between the companies, Rosneft activities in Venezuela and the outlook of …
Rosneft and PDVSA signed cooperation agreement to implement projects on Venezuelan shelf
On July 2 in Moscow Rosneft’s President and Chairman of the Management Board Igor Sechin and Venezuelan Oil Minister and PDVSA President Rafael Ramirez in the presence of the President of the Russian Federation Vladimir Putin signed a cooperation agreement for implementation of offshore projects in Venezuela. The Agreement provides …
Rosneft and Venezuelan Corporacion Venezolana del Petroleo Sign Joint Venture Agreement
On May 23, an agreement to create a joint venture to develop heavy oil reserves in Venezuela in the framework of the Carabobo-2 project was signed in Barcelona, Venezuela, by Rosneft and the Venezuelan Corporacion Venezolana del Petroleo (CVP), a subsidiary of PDVSA. The agreement was signed by Rosneft President …