Venezuela buys ConocoPhillips' gas project stake

2010-02-24T23:21:48Z

<div id="subtitle">Venezuela buys ConocoPhillips' stake in offshore natural gas project</div><div><p>Venezuela's state oil company has purchased ConocoPhillips' 40 percent stake in a joint natural gas venture with Chevron Corp.</p>&am...

PDVSA's El Palito refinery is seen in Puerto Cabello

2009-09-23T19:51:37Z

PDVSA's El Palito refinery is seen in Puerto Cabello, 150 miles (241 km) west of Caracas, September 23, 2009. Venezuela's state oil company PDVSA is still choosing partners for its Junin 10 oil field, a top PDVSA official said on Wednesday, contradicting his pre...

Russia pays $1 bln for oil exploration in Venezuela

2010-02-25T08:02:41Z

<div><p>A Russian consortium has paid one billion dollars to Venezuela to assure participation in exploiting the Orinoco oil fields, among the world's largest, officials said Sunday.</p><p>The group of five Russian firms -- Rosneft, Lukoil, MIAMI (Reuters) - Tropical Storm Erika weakened as it edged over the Leeward Islands of the northeast Caribbean on Wednesday but it threatened to douse them with heavy rainfall, the ...

Venezuela shaken by 4.6 earthquake; no oil damage

2010-02-26T05:33:56Z

<div><p>CARACAS (Reuters) - An earthquake of 4.6 magnitude shook oil-rich northwestern Venezuela on Wednesday but there were no immediate reports of damage or injuries, authorities said.</p><p>The quake occurred at 1525 local time (1955 GMT) southwest of the city of CARACAS (Reuters) - Venezuela's oil workers will be suspected of conspiring against President Hugo Chavez's socialist revolution if they do not join socialist workplace groups in the OPEC nation, the oil mini...

Venezuela state oil company earnings up in 2008

2010-02-27T00:30:54Z

<div><p>Venezuela's state oil company reported Sunday that it reaped a 50 percent increase in earnings in 2008 over the previous year due mainly to high oil prices.</p><p>In its annual report, Petroleos de Venezuela (PDVSA) said it earned 9.4 billion dollars in 2008. At 126.3 billion dollars, sales of crude oil...

Venezuela set to build first oil rig with China: report

2010-02-27T08:38:48Z

<div><p>Venezuela is poised to begin building the first joint Venezuelan-Chinese oil drilling platform in June, according to Energy Minister Rafael Ramirez.</p><p>"The oil drilling platform is at a very advanced stage in the (western) Orinoco Belt," Ramirez told the Panorama newspaper, from the northwestern city of Venezuelan President Hugo Chavez is quick to point the finger overseas. Now El Comandante has found a new bunch of foreigners to blame: Instead of Big Oil, this time he's hounding oil services companies, which do drilling, exploration, and other important work for state-owned President Hugo Chavez's government seized the assets of 60 local and foreign-owned oil firms.</p><p>"This law does not benefit us," Bernardino Chirinos, leader of the Union of Oil Workers in the western President Hugo Chavez's government seized the assets of 60 local and foreign-owned oil firms.</p><p>"This law does not benefit us," Bernardino Chirinos, leader of the Union of Oil Workers in the western

Venezuela to nationalize oil service companies

2010-02-27T13:50:21Z

<div><p>Venezuela will Friday begin to expropriate some oil service providers, after the congress passed a law extending the state's control to all activities related to the oil industry.</p><p>"We will start to recover assets that will now belong to the state, as they always should have," President Hugo Chavez said.</p>&...

Law would let Venezuela take over oil contractors

2010-02-27T15:02:36Z

<div id="subtitle">Venezuelan lawmakers give tentative OK for bill letting Chavez take over oil contractors</div><div><p>The National Assembly gave preliminary approval Tuesday to legislation that would let President Hugo Chavez's government seize control of some oil service companies without following usual legal procedures for expropriating private businesses.</p><...

Motorsport: Honda Grand Prix of St.Petersburg APR 5

2009-04-09T11:24:39Z

April 5, 2009: E.J. Viso driving car #13 PDVSA during the IRL IndyCar Series Honda Grand Prix of St.Petersburg on the streets of St. Petersburg, Florida

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Venezuelan Minister of Energy and President of state-run oil company PDVSA Rafael Ramirez

2009-03-18T13:50:24Z

Venezuelan Minister of Energy and President of state-run oil company PDVSA Rafael Ramirez said on 12 March 2009 in Brazilia, Brazil, that his country will propose to Organization of Countries Exporters of Oil (OP...

Venezuela launches multi-billion-dollar gas project

2010-03-03T19:27:36Z

<div><p>Venezuela's state-owned Petroleos de Venezuela (PDVSA) announced it had set up a joint venture with Argentinean, Portuguese, US and Japanese firms to tap offshore natural gas fields.</p><p>The venture will develop an estimated 28.8 trillion cubic...

Venezuela to cut oil company costs by 40 percent

2010-03-03T21:17:38Z

<div id="subtitle">Faced with low crude prices, Venezuela's state-run oil company to slash costs by 40 percent</div><div><p>Venezuela's state-run oil company plans to slash costs by 40 percent as it struggles with low crude prices amid the global financial crisis.</p><p>The president of ...

Venezuela behind on payments to oil contractors

2010-03-02T05:59:45Z

<div id="subtitle">Some oil service contractors halt work as Venezuela falls behind on payments</div><div><p>Venezuela's state oil company is behind on billions in payments to private oil contractors from Oklahoma to Belarus, some of which have now stopped work, even as Venezuela, needing money and expertise as crude price slump</div><div><p>Squeezed by slumping crude prices, Venezuela is reaching out to the multinational oil companies it once demonized as imperialist profiteers.</p><p>Venezuela is soliciting bids from the world's major oil companies to extract heavy crude from vast deposits in its Venezuela's state oil company says income soared in first 9 months of 2008</div><div><p>Record prices boosted Venezuela's oil income by 225 percent in the first nine months of 2008, allowing the state-run oil company to stash $10.8 billion in government reserves now that oil prices have dropped dramatically.</p><p>

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