Arab Today, arab today venezuela russia in oil venture
Last Updated : GMT 12:34:44
Arab Today, arab today
Arab Today, arab today

Venezuela, Russia in oil venture

Arab Today, arab today

Arab Today, arab today Venezuela, Russia in oil venture

Barcelona - AFP

Venezuela and Russia formed a joint venture to produce 120,000 barrels of oil a day by 2016 in two fields in the Orinoco Heavy Oil Belt. Russia will loan Venezuela $1.5 billion to finance the development of the fields under the terms of the agreement, and put up $1.1 billion for a 40 percent share in Petrovictoria. The agreement establishing Petrovictoria was signed by the president of the state-owned Petroleos de Venezuela (PDVSA), Rafael Ramirez, and the president of Russian state oil company Rosneft, Igor Sechin. PDVSA will sell to Russia 72 percent of the heavy and extra-heavy crude produced by the company, which has a long-term goal of producing 400,000 barrels a day. Three mixed capital companies are currently operating in the Orinoco Belt, producing 230,000 barrels a day in a huge area of southeastern Venezuela. The Belt has estimated reserves of 220 billion barrels of harder-to-refine heavy and extra-heavy oil, the largest in the world.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today venezuela russia in oil venture Arab Today, arab today venezuela russia in oil venture

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today venezuela russia in oil venture Arab Today, arab today venezuela russia in oil venture

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday