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2016-08-03 18:50:00

ROSNEFT & PDVSA STRATEGIC PARTNERSHIP

РОСНЕФТЬ & PDVSA: СТРАТЕГИЧЕСКОЕ ПАРТНЕРСТВО

Rosneft CEO Igor Sechin met Venezuela state leaders, core ministers and head of the Venezuelan state oil and gas company PDVSA during his business trip to Venezuela. National Oil Consortium and Inter RAO top managers also participated in the negotiations.

Major issues of current cooperation among Russian and Venezuelan companies, expansion of strategic partnership for new upstream projects and construction of power generating capacities were discussed at the meetings.

During the negotiations Igor Sechin noted that the crisis in the global energy industry provides a unique opportunity to expand Rosneft and PDVSA cooperation, which may have a substantial effect on the global oil markets balancing. Eulogio del Pino, head of PDVSA, supported the offer of Igor Sechin and stated that lack of the competent regulating mechanisms in the modern oil industry is a substantial negative factor for the global economy. According to Del Pino such large hydrocarbons producers as Rosneft and PDVSA should work together to secure the interests of the whole industry.

Rosneft and PDVSA, signed several documents in Caracas in the presence of Venezuelan President Nicolas Maduro aimed at strategic cooperation expansion in the key operations segments. Igor Sechin and Nicolas Maduro noted the importance of transition to the practical stage of implementing the Venezuela offshore gas production project and achieving new agreements in oil and oil products trading and joint companies' initiatives to monetize oil and gas production by-products.

During the working meeting with Nicolas Maduro held on the 62-nd anniversary of the former Venezuelan President Hugo Chavez birthday Igor Sechin appreciated the services of the country ex-leader in developing the Russian-Venezuelan relations. Head of Rosneft, who also met Chavez family, noted the importance of preserving his heritage. A statuary group was established in Sabaneta, home town of former President, ordered by the Russian company to memorialize Hugo Chavez. Nicolas Maduro thanked Igor Sechin stressing that due to Hugo Chavez endeavors to establish friendly relations between the two countries, Moscow-Caracas partnership keeps actively developing today, despite the turbulence in the world economy.

Apart from that, Rosneft and PDVSA cooperation perspectives for greenfields operation (JV Petromiranda and JV Petrovictoria), oilfield services and PDVSA potential participation in Rosneft international projects were discussed during the negotiations.

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Earlier:

ROSNEFT 

ROSNEFT HAS PAID $1 BLN 

ROSNEFT: STABILITY & GROWTH 

ROSNEFT SOLD VANKOR 

ROSNEFT & BP: YERMAK NEFTEGAZ LLC 

OSNEFT'S OPTIMISTIC PERCEPTION

 

PDVSA 

VENEZUELA NEED MONEY  

VENEZUELA'S OIL DOWN  

VENEZUELA - CHINA TALKS  

BRAZIL & VENEZUELA IN SHOCK  

ROSNEFT & PDVSA COOPERATION

 

 

Tags: РОССИЯ, ВЕНЕСУЭЛА, RUSSIA, VENEZUELA, РОСНЕФТЬ, ROSNEFT, PDVSA
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OIL PRICE: NEAR $79 STILL

РОСНЕФТЬ & PDVSA: СТРАТЕГИЧЕСКОЕ ПАРТНЕРСТВО September, 21, 10:55:00

RUSSIA'S OIL PRODUCTION: 11.3 MBD

РОСНЕФТЬ & PDVSA: СТРАТЕГИЧЕСКОЕ ПАРТНЕРСТВО September, 21, 10:45:00

UNEXPECTED OIL PRICES

РОСНЕФТЬ & PDVSA: СТРАТЕГИЧЕСКОЕ ПАРТНЕРСТВО September, 21, 10:40:00

OIL MARKET UNCERTAINTY

РОСНЕФТЬ & PDVSA: СТРАТЕГИЧЕСКОЕ ПАРТНЕРСТВО September, 21, 10:35:00

OPEC-NON-OPEC DECISIONS

РОСНЕФТЬ & PDVSA: СТРАТЕГИЧЕСКОЕ ПАРТНЕРСТВО September, 21, 10:30:00

U.S. CAPITAL EXPENDITURES UP

All Publications »

Chronicle:

РОСНЕФТЬ PDVSA: СТРАТЕГИЧЕСКОЕ ПАРТНЕРСТВО
2018, September, 21, 10:25:00

U.S. ENERGY CASH: $119 BLN

U.S. EIA - Energy companies’ free cash flow—the difference between cash from operations and capital expenditure—was $119 billion for the four quarters ending June 30, 2018, the largest four-quarter sum during 2013–18 Companies reduced debt for seven consecutive quarters, contributing to the lowest long-term debt-to-equity ratio since third-quarter 2014

РОСНЕФТЬ PDVSA: СТРАТЕГИЧЕСКОЕ ПАРТНЕРСТВО
2018, September, 21, 10:20:00

WORLD OIL DEMAND: 100.23 MBD

OPEC - Total oil demand for 2018 is now estimated at 98.82 mb/d. In 2019, world oil demand growth is forecast to rise by 1.41 mb/d. Total world oil demand in 2019 is now projected to surpass 100 mb/d for the first time and reach 100.23 mb/d.

РОСНЕФТЬ PDVSA: СТРАТЕГИЧЕСКОЕ ПАРТНЕРСТВО
2018, September, 21, 10:15:00

IRAQ'S OIL: NO RECORD

ARAB NEWS - Oil exports from southern Iraq are heading for a record high this month, two industry sources said, adding to signs that OPEC’s second-largest producer is following through on a deal to raise supply and local unrest is not affecting shipments.

РОСНЕФТЬ PDVSA: СТРАТЕГИЧЕСКОЕ ПАРТНЕРСТВО
2018, September, 21, 10:10:00

NATURAL GAS EXPORT UP

PLATTS - The International Energy Agency expects the US to account for 75% of the global growth in natural gas exports over the next five years, a bullish outlook for LNG developers facing challenges at home getting projects off the ground and abroad with tariffs affecting trade flows.

All Publications »