CARACAS (Reuters) - Venezuelan state oil giant PDVSA has had to buy dozens of extra fuel cargoes from countries as far away as Estonia and Saudi Arabia to keep up its side of a 2008 oil supply deal with leftist ally Ecuador, according to traders and sales documents.
Venezuelan state oil giant PDVSA has had to buy dozens of extra fuel cargoes from countries as far away as Estonia and Saudi Arabia to keep up its side of a 2008 oil supply deal with leftist ally Ecuador, ...
China will finance most of the costs associated with building a $10 billion refinery in Ecuador, and become a partner in the megaproject, President Rafael Correa said Wednesday. "That is just about a done deal. It is tremendous news for the nation," Correa told foreign reporters.
When the Organization of Petroleum Exporting Countries came to an agreement last week, it was by turns hailed as a watershed and a “meh” moment. The question on investors’ minds now is: Which is it, really?
Submitted by Charles Kennedy via OilPrice.com,
As Venezuela drowns in debt and takes its state-run oil company, PDVSA, down with it, Reuters is reporting that BP has over 2 million barrels of oil stuck at a terminal in the Caribbean over unpaid bills.
By Alexandra Valencia QUITO (Reuters) - China National Petroleum Corp (CNPC) has agreed to help finance the construction of a $12 billion refinery project in Ecuador, the South American country's government said on Saturday. Ecuador has been in talks with China's biggest oil producer for a year about funding the 300,000 barrel per day Pacifico project, which aims to start output in 2017 and is a joint venture between Ecuador and Venezuelan state oil company PDVSA. "We've worked to have a third partner ... ...