Venezuela’s Partnership with Russia and China Will Fortify the Oil and Gas Investments in the Country
Venezuela has been one of the most active countries in the past year in terms of partnering with other state-owned oil companies. Petroleos de Venezuela SA (PDVSA), Venezuela’s state owned Oil and Gas Company and Russia’s National Oil Consortium have signed a memorandum of understanding on cooperation for the exploration of oil reserves in the Orinoco belt. The Russian National Oil Consortium includes five equal stakeholders which includes TNK-BP, Rosneft, Lukoil, Gazprom Neft and Surgutneftegaz with each holding a 20% stake in the consortium. Closely following this agreement, Venezuela signed an agreement with China for developing its resources in the Orinoco belt. China is expected to invest close to $ 16 billion in Venezuela over a period of 3 years. The huge investments from major Russian oil and gas companies and the cash-rich Chinese will surely boost the petroleum output of Venezuela. Consequently, these investments will lead to increased revenues for the ailing Venezuelan economy as the world economy recovers and oil and gas demand increases, thereby giving the Venezuelan economy the much needed growth stimulus.
- Top level market sizing information for the oil and gas industry in Venezuela
- Insightful analysis of this recent collaboration between Venezuela, Russia and China
- Indepth review of the deal rationale and prospective implications of the deal
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Venezuela’s Partnership with Russia and China Will Fortify the Oil and Gas Investments in the Country Reference Code: GDGE0614VPT Publication Date: SEP 2009 Energy Viewpoint GDGE0614VPT / Published SEP 2009 © GlobalData. This brief is a licensed product and is not to be photocopied Source: www.energyetrack.com Page 1 Table of Contents 1 Table of Contents 1 Table of Contents 2 1.1 List of Tables 3 1.2 List of Figures 4 2 GlobalData Viewpoint 5 2.1 Summary 5 3 Venezuela’s Partnership With Russia And China Will Fortify The Oil And Gas Investments In The Country 6 3.1 Global Financial Meltdown and Venezuela’s Asset Nationalization has Restricted the Foreign Investments in the Oil and Gas Industry 6 3.2 Venezuela’s Huge Petroleum Reserves Present a Compelling Opportunity for Foreign Investments 7 3.3 Collaborating with Other State-Owned Companies has Become an Attractive Option for the National Oil Companies during the Economic Crisis 10 3.4 Investments from Venezuelan Partnership with Russia and China will Boost the Oil and Gas Investment and the Country’s Economy 11 4 Recent Developments 12 4.1 Strategy and Business Expansion 12 4.2 Recent Discoveries 14 4.3 Other Significant Developments 14 5 Appendix
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