- Venezuela's PDVSA signs a new $14B deal with China National Petroleum (PTR +1.4%) to develop heavy-oil deposits in the country's Orinoco belt, according to the company's oil minister.
- The Orinoco region holds one of largest oil reserves in the world, and PDVSA is working on projects there with foreign partners including Italy's Eni (E), Spain's Repsol (REPYY.PK, REPYF.PK) and Russia's Rosneft (RNFTF.PK).
- CNPC already has minority stakes in two other Orinoco belt projects with PDVSA.
Michele Kearney's Nuclear Wire - Major Energy and Environmental News and Commentary affecting the Nuclear Industry. Nuclear Activities
Wednesday, September 18, 2013
China National Petroleum to develop Venezuelan project in $14B deal
China National Petroleum to develop Venezuelan project in $14B deal • 2:49 PM
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