Venezuela may purchase additional volumes of oil from Azerbaijan to ensure the contract with Belarus to supply up to 10 million tons a year, the Belarusian agency BelTA quoted Ambassador of Venezuela to Belarus, Americo Diaz Nunez.
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Mexico reopened the last of its three main oil ports on the Gulf of Mexico on Tuesday, the government said. The Dos Bocas port closed Sunday due to bad weather but was reopened on Tuesday, while Mexico’s two biggest export ports closed and reopened on Monday. Read Article
Following a wave of angry protests across the country, Bolivia’s President Evo Morales revoked a decree that lifted fuel subsidies and caused price hikes of up to 82%. In a message late Jan. 31, Morales said he had decided to rescind the decree after meeting with labor and indigenous leaders who convinced him that the […]
Azerbaijan has agreed to supply crude oil to Belarus on behalf of Venezuela and, in return, the Latin American country will provide oil to meet Azerbaijan’s export commitments to the United States, state energy company SOCAR said. Read Article
THREE state-owned Chinese companies have agreed to invest some $40b in oil and gas projects in Venezuela over the coming years. The deal, which was struck between Venezuela’s oil minister Rafael Ramirez and China’s v ice premier Li Keqiang at a meeting in Qatar, represent at least $40b dollars that will be invested during a […]
According to data provided by the Central Bank of Venezuela (BCV), liquid external assets, that is, US dollars deposited in bank accounts or in foreign currency instruments that are immediately available to cover imports, pay debt and meet the demand of foreign currency, have plummeted. Read Article
The British-ruled Falkland Islands government and oil companies contracted to explore for deep-sea oil will increase drilling operations in 2011 and reinforce this year’s result with a designated Discovery Area in the South Atlantic. Read Article
Chevron Corp said litigation against the firm in an Ecuadorian court should be terminated because a forensic specialist discovered many forged signatures on the document that initially authorized the legal action. “The Ecuadorian authorities cannot continue to ignore the mounting evidence of fraud in the Lago Agrio litigation without violating their duties under the Ecuadorian […]