The country claiming the world’s largest
oil reserves is now reduced to importing oil. Walter Russell Meade of The
American Interest compiles the information: The management acumen of
Venezuela’s President Nicolas Maduro continues to amaze. Reuters: Algeria is in
talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy
Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week,
a document from Venezuela’s state-run energy company PDVSA seen by Reuters
showed Venezuela was considering importing crude oil for the first time and
could use Algerian light crude as blending stock to boost sales of its own
extra-heavy oil. “Yes, we are in talks,” Yousfi told Reuters when asked whether
Algeria was planning to export crude oil to Venezuela. He declined to provide
details. More…
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