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Venezuela's Partnership with Russia and China Will Fortify the Oil and Gas Investments in the Country
GlobalData , Sep 2009, Pages: 22
Venezuela’s Partnership with Russia and China Will Fortify the Oil and Gas Investments in the Country
Summary
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.
Scope
- 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
Reasons to buy
- Develop business strategies with the help of specific insights from GlobalData on the key events happening in the oil and gas industry.
- Gain a strong understanding of the energy market and analyze the major trends in the global oil and gas industry today
- Identify opportunities and challenges with the help of our analysis of the latest news and deals in the oil and gas industry
- Increase future revenue and profitability with the help of information on latest operational, financial, and regulatory events
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