Petroleum / Mining in Venezuela
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CHINA, 2013/05/29
Venezuela and China have agreed on the terms of a formerly announced $4 billion financing transaction to increase the output of their Sinovensa joint venture in Venezuela's Orinoco oil belt, the South American country's oil minister said late Wednesday.
"We have agreed on the financing that was under discussion, but presently the agreement is ready, that is the large news," minister Rafael Ramirez said while touring some of the joint venture facilities under construction in the Carabobo oil field, according to a statement from the ministry.
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VENEZUELA, 2012/03/22
Venezuela believes that sanctions against its ally Iran are "detrimental" to the stability of world oil prices, and hopes to discuss the issue with other OPEC nations, Oil Minister Rafael Ramirez said Tuesday.
The sanctions are "a direct aggression on an oil producing country," Ramirez said during a visit to the Orinoco belt, the oil-rich area along the eastern Orinoco river basin.
