Vietnam Oil & Gas Group, or Petrovietnam, has suspended production of crude oil at a block in Venezuela, citing a tough economic conditions. "Basically, we are just slowing things down, and we haven't decided to withdraw from the project yet," said Pham Ngoc Khue, head of the investment and development division of PVEP, the Petrovietnam unit that jointly operates the Junin-2 block in Venezuela's Orinoco belt with Petróleos de Venezuela SA. More...
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