Oil – Bloomberg reported that Petroleos de Venezuela SA (PDVSA) reported a decrease of less than 1% in sales last year amounting to $124.4 billion as it sells more oil in its home country instead of aiming for higher export prices.
Oil – The death of Hugo Chavez and the prospect of a regime change in Venezuela are likely to attract investor interest in the short term.
Oil – Bloomberg reported that the late president Hugo Chavez leaves his successor the job of reviving the country’s oil fields after his policies of limiting investment and banning drillers from the US have lowered their production by 13% over the last decade.
Oil – Relations between Russia and Venezuela were boosted recently when Russian oil companies confirmed plans to invest $17.6 billion in the South American country’s energy sector.
Oil – A brief overview of oil price developments, supply and demand and significant market movers.
Oil – Bloomberg reported that by 2019, several oil companies in Russia would already have invested $17.6 billion in Venezuela.
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