USA Extends Permission for Oil Companies to Transact with PDVSA
The US Treasury has once again extended permission for four US oilfield services companies to operate in Venezuela. The 8L General License allows Halliburton, Schlumberger Limited, Baker Hughes Holdings LLC and Weatherford International to retain Venezuelan assets until November 19 and enter into transactions with the local state-owned company PDVSA …
Russia’s Rosneft Terminates Venezuela Operations
Russia’s largest oil producer, Rosneft, said on Saturday it had terminated operations in Venezuela and disposed of its assets relating to its operations there. The company said it was selling its Venezuelan businesses to a company owned by the Russian government, “including in the joint ventures of Petromonagas, Petroperija, Boqueron, …
Russian State gives Up Majority Share of Rosneft in Venezuela Deal
The Russian state has cut its holding in oil giant Rosneft to below a majority stake as part of its deal to buy the group’s Venezuelan assets, announced over the weekend, a source familiar with the details told Reuters. Rosneft, Russia’s largest oil producer, said on Saturday it had sold …
Rosneft: Company Statement on Venezuelan Operations
In connection with statements by US special envoy Elliott Abrams, Rosneft reaffirms its position regarding the Company’s operations in Venezuela. Rosneft is an investor in the oil and gas sector of Venezuela and has been such long before the introduction of US sanctions against Venezuela. Accordingly, any attempt to restrict the …
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 …
Igor Sechin Held Talks With Rafael Ramirez
Rosneft Head Igor Sechin held negotiations with the Vice-president for political issues, Minister of Foreign Affairs of Venezuela Rafael Ramirez in Moscow. During the meeting a wide range of issues pertaining to current cooperation and Rosneft’s operations in Venezuela, as well as prospects for developing new projects were discussed. The …
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 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 Took Part in Celebrations Devoted to 60th Anniversary of President of Venezuela Hugo Chavez
Rosneft President, Executive Secretary of Russia’s Presidential Commission on Strategic Development of the Fuel and Energy Sector and Ecological Safety Igor Sechin took part in celebrations dated to 60th birthday of President of Bolivarian Republic of Venezuela Hugo Chavez. President of Venezuela Nikolas Maduro and family of Hugo Chavez took …