• 4 minutes Get First Access To The Oilprice App!
  • 7 minutes Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 11 minutes Japanese Refiners Load First Iran Oil Cargo Since U.S. Sanctions
  • 13 minutes Oil prices forecast
  • 10 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 2 hours Oceans "Under Fire" Of Plastic Trash
  • 12 hours Emissions from wear of brakes and tyres likely to be higher in supposedly clean vehicles, experts warn
  • 19 hours How Is Greenland Dealing With Climate Change?
  • 12 hours Nuclear Power Can Be Green – But At A Price
  • 5 hours Algorithms Taking Over Oil Fields
  • 16 hours Is Natural Gas Renewable? I say yes it is.
  • 19 hours Germany: Russia Can Save INF If It Stops Violating The Treaty
  • 7 hours Europe Slipping into Recession?
  • 14 hours Socialists want to exorcise the O&G demon by 2030
  • 9 hours UK, Stay in EU, Says Tusk
  • 1 day Saudi Private Jet Industry Stalls After Corruption Crackdown
  • 2 hours Orphan Wells
BP Bets Big On The Caspian Sea

BP Bets Big On The Caspian Sea

British Petroleum’s wells are targeting…

Belarusian-Venezuelan Company Will Increase Oil Production in 2012

Joint venture Belarusian-Venezuelan Petrolera BeloVenezolana company is stating that it will increase oil production in 2012.

Petrolera BeloVenezolana was established in 2007.

Belarusian state oil company Belarusnafta, which holds a 40 percent share in Petrolera BeloVenezolana, stated that the company is hoping to increase its annual production to 1.5 million tons of oil in 2012, Minsk’s Belaruskaia Infarmatsyinaia Kampaniia Belapan news agency reported.

Petrolera BeloVenezolana intends to increase its current output of 1 million tons due to its receiving two more oil deposit concessions in the area of Venezuela’s Lake Maracaibo, which will bring the total number of oil deposits under the control of Petrolera BeloVenezolana to nine.

The new concession agreement was reportedly signed earlier this month after a Belarusian delegation headed by presidential aide Viktar Sheyman visited Venezuela to take part in a meeting of the Belarusian-Venezuelan High-Level Commission in the capital Caracas.

Following the signing of the agreement Venezuelan President Hugo Chavez said, "We have come a long way with Belarus in just two years. We are developing various fields and the joint venture Petrolera BieloVenezolana is now producing about 20,000 barrels of oil per day. With our agreement we will expand operations to other fields in the east and west and increase production to 30,000 barrels per day."

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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