• 5 minutes Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 9 minutes Sell out now or hold on?
  • 16 minutes Oil prices going down
  • 31 mins Oil prices going down
  • 7 hours When will oil demand start declining due to EVs?
  • 20 hours Two Koreas Agree To March Together At Asian Games
  • 7 hours Oil and Trade War
  • 10 hours Russia and Saudi Arabia to have a chat on oil during FIFA World Cup - report
  • 9 hours Sell out now or hold on?
  • 7 hours venezuala oil crisis
  • 6 hours Trump Hits China With Tariffs On $50 Billion Of Goods
  • 11 hours Correlation Between Oil Sweet Spots and Real Estate Hot Spots
  • 7 hours Germany Orders Daimler to Recall 774,000 Diesel Cars in Europe
  • 11 hours Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 4 hours What If Canada Had Wind and Not Oilsands?
  • 20 hours Geopolitical and Political Risks make their strong comeback to global oil and gas markets
  • 3 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 17 hours Trump Renews Attack On OPEC Ahead Of Group's Production Meeting
  • 5 hours After Three Decade Macedonia End Dispute With Greece, new name: the Republic of Northern Macedonia
Alt Text

China’s Oil Demand Could Take A Big Hit

In the last three years…

Alt Text

The Fed Is Driving Down Oil Prices

The hawkish U.S. Federal Reserve…

Alt Text

3 Possible Outcomes From The OPEC Meeting

With the OPEC meeting nearing,…

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Trending Discussions

Venezuela Receives Russian Armaments Loan for Increased Energy Access

The Russian Federation has agreed to provide Venezuela with a two year $4 billion loan for armaments purchases in return for increased access to developing Venezuela’s heavy crude and offshore natural gas fields.

The energy agreements were signed between Russian oil firm Rosneft, state-owned natural gas company Gazprom and Venezuela’s state oil company Petroleos de Venezuela SA during a ceremony in the Venezuelan capital Caracas attended by Venezuelan President Hugo Chavez and Russian Federation Deputy Prime Minister Igor Sechin. Chavez subsequently stated on state television, "Russia and Venezuela, each country with its own dimension, are walking today on our own feet. We're working on large-dimension projects from oil, gas and petrochemicals to finance, banking and trade," Rossiiskaia Gazeta newspaper reported.

According to Sechin, Russian energy companies are interested in expanding their efforts to develop the Orinoco Belt Junin-6 deposit, where the Russian-Venezuelan joint venture began working last December. According to plan, the joint venture’s first drilling and subsequent oil is expected in May 2012, with initial production to consist of roughly 50,000 barrels per day.

The Chavez administration beyond bilateral energy ties is interested in reequipping its military with Russian armaments in the wake of a U.S. arms embargo.

By. Charles Kennedy, Deputy Editor OilPrice.com




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News