Russia’s state-owned oil company may
provide its Venezuelan counterpart a much needed loan of $5 billion. Venezuela’s
oil company, PDVSA, is in desperate need of capital in order to help boost oil
and gas production. In exchange for the loan, Reuters reports that Rosneft
could gain greater access to PDVSA’s oil and gas reserves. As it stands,
Rosneft often only takes in discounted revenues from the Petromonagas joint
venture, which processes and sells heavy oil at reduced rates to the local
Venezuelan market. Rosneft is seeking more control, plus the ability to export
production, which will bring in much higher revenue. More… 
Monday, June 22, 2015
Why Russia's state oil company is helping Venezuela
Russia’s state-owned oil company may
provide its Venezuelan counterpart a much needed loan of $5 billion. Venezuela’s
oil company, PDVSA, is in desperate need of capital in order to help boost oil
and gas production. In exchange for the loan, Reuters reports that Rosneft
could gain greater access to PDVSA’s oil and gas reserves. As it stands,
Rosneft often only takes in discounted revenues from the Petromonagas joint
venture, which processes and sells heavy oil at reduced rates to the local
Venezuelan market. Rosneft is seeking more control, plus the ability to export
production, which will bring in much higher revenue. More… 
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment