There are chances RIL may soon expand and bolster its growth by entering Venezuela’s oil and gas upstream space. Sources claim that the company has been understanding prospects and will soon set the balls rolling. At present, they do not cater to exploration acreages and entail to the development and production of assets, only. Considering […]
RIL in Talks with Venezuelan Oil Companies Regarding Exploration of Heavy Oil Production
The Venezuela PDVSA engages in a discussion with RIL (Reliance Industries Limited) and ONGC (Oil & Natural Gas Exploration about their prospects of investing in the South American country’s oil sector and augmenting this segment in the country. According to Fadi Kabboul, PDVSA Executive Director mentioned at the Petrotech 2012 conference that they have been […]
RIL Inks A 15 -Year Supply Contract With Venezuela’s PDVSA
RIL (Reliance Industries Limited) , India’s leading energy giant signs a deal with Venezuela’ s PDVSA paving way for an increase in the quantity of oil to India (RIL). This 15 year old deal signed in Carcus on Tuesday will increase the supply of crude oil per day to around 4,00,000 barrels from the present […]
Military and police from Colombia, Venezuela to fight rebels
Colombia’s Minister of Defense Rodrigo Rivera announced yesterday that Colombia’s and Venezuela’s military and police forces will hold their first strategy meeting in on August 17 to discuss strategy and tactics to use against Colombia’s guerilla groups, according to an INTERPOL report. Ranking police, military and intelligence officers from both countries will hold a summit in the city of Cucuta to implement the agreement […]
Venezuela hit with U.S. sanctions for supporting Iran, Hezbollah
After several months of calling for U.S. government action to sanction Venezuela’s state run oil company Petroleos de Venezuela, S.A. for doing business with Iran, Chairman of the House Western Hemisphere Subcommittee Rep. Connie Mack (R-FL) applauded the U.S. State Department’s decision to finally sanction Venezuela’s state-owned oil corporation yesterday. Congressman Mack stated: "The sanctions on PDVSA are an […]
President Hugo Chavez Threatens to Expel Toyota from Venezuela
President Hugo Chavez of Valenzuela is angry at Toyota motor’s decision to stop production of its Land Cruiser 70 4×4 vehicle, a model that many believe serves the rural areas well because of poor road conditions. A business decision by Toyota Motors of Venezuela to stop production of its Land Cruiser 70 model has […]
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