Posts Tagged ‘orinoco’

Venezuela sees supermajor rulings in late 2013

by on November 8, 2012 7:20 pm BST
Of more than 20 cases against Venezuela at the World Bank and the International Chamber of Commerce's panels, the biggest involve Conoco and ExxonMobil, which are seeking some $40 billion between them, Reuters reported.Both companies filed for arbitration after Chavez ordered foreign firms to slash their stakes in production and

Surgutneftegaz ‘confirms Orinoco exit’

by on November 7, 2012 9:07 am BST
The company said on Wednesday that its board of directors had decided to leave the National Oil Consortium which is in the PetroMiranda joint venture with Venezuelan state oil company PDVSA, Reuters reported.Upstream reported in September that Surgutneftegaz was quitting its 20% stake in the consortium with Rosneft likely

Indian pair eyes Orinoco belt fields

by on October 17, 2012 8:11 am BST
Reliance Industries and Oil & Natural Gas Corporation (ONGC) are both in discussions with PDVSA about exploring the fields in the Orinoco heavy oil belt, Reuters reported on Wednesday, citing PDVSA director of corporate planning, Fadi Kabboul.Venezuelan Oil Minister Rafael Ramirez said in late September that the country will

PDVSA, Reliance in Orinoco agreement

by on September 25, 2012 8:13 pm BST
Ramirez also said that Venezuela's state oil company PDVSA had agreed to increase the amount of oil it sends to Reliance to 300,000 barrel-per-day, rising to 400,000 bpd, under a new 15-year contract, Reuters reported.PDVSA had agreed in 2008 to ship some 150,000 bpd to the Indian company, and Ramirez told