Venezuela and Russia Form JV To Explore For Oil

Courtesy of The International Herald Tribune, a report detailing the plans for Venezuela and Russia to form a joint company to work together on oil projects.  As the article notes:

“…Venezuelan President Hugo Chavez called the formation of a Russian-Venezuelan energy company an important step. He said it will “open operations not only in Venezuela, but also throughout the world.”

….It will be made up of a consortium of Russian companies and Venezuela’s state-run oil company, Petroleos de Venezuela SA. The new company will be involved in extracting heavy crude in Venezuela’s largely untapped Orinoco River basin.”

This entry was posted on Wednesday, March 18th, 2009 at 9:34 am and is filed under China, Petróleos de Venezuela, Venezuela.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.