News - Orinoco Belt
Venezuelan President Hugo Chavez is inviting Western oil companies to submit bids to develop new areas of the Orinoco Belt for petroleum production. Nineteen oil companies have paid $2 million each for data necessary to submit bids, in spite of the political uncertainties of dealing with Chavez, The New York Times reported Thursday. In 2007, Chavez abruptly nationalized oil fields developed by Exxon Mobil and ConocoPhillips.
Ecuador, Venezuela to launch joint oil exploration in Venezuela QUITO, Aug. 27 (Xinhua) -- Ecuador and Venezuela will explore oil reserves in Venezuela, Ecuadorian Mining and Oil Minister Galo Chiriboga said Wednesday.
MOSCOW. July 23 (Interfax) - Venezuela would like to see Gazprom (RTS: GAZP) take part in the Delta Caribe Oriental LNG project, which involves development of the Mariscal Sucre and Deltana Platform blocks and construction of an LNG plant in Venezuela.