Ecuador to cut oil output 8 percent under OPEC quota

Posted on March 28, 2009 by gotbrooklyn

Energy Minister Derlis Palacios says Ecuador will cut its crude output by 8 percent next month to meet reduced OPEC quotas.
via Ecuador to cut oil output 8 percent under OPEC quota – Americas AP – MiamiHerald.com.

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China set to boost Venezuela ties

Posted on February 17, 2009 by gotbrooklyn

Chinese Vice President Xi Jinping is due in Venezuela as part of a visit to boost Chinese ties in the region.
Mr Xi is expected to sign agreements including joint ventures with Venezuela’s state oil company, PDVSA, the Venezuelan foreign ministry said.
China is also set to inject $4bn (£2.8bn) into a joint investment fund that was [...]

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Venezuela behind on payments to oil contractors

Posted on February 6, 2009 by gotbrooklyn

Venezuela’s state oil company is behind on billions in payments to private oil contractors from Oklahoma to Belarus, some of which have now stopped work, even as President Hugo Chavez funnels more oil revenue to social programs.
Petroleos de Venezuela SA, or PDVSA, says unpaid invoices jumped 39 percent in the first nine months of last [...]

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