Venezuela's minister of petroleum informed that production in Venezuela-Russia oil joint ventures currently stands at 206,000 barrels per day and the goal for 2019 is 1.08 million bpd.
Russian oil company Rosneft will extend a line of credit for USD 1.5 billion to the Venezuelan Corporation of Petroleum (CVP) within the framework of bilateral agreements signed by the Russian and Venezuelan governments.
Minister of Petroleum and Mining and President of Venezuelan state run oil company Pdvsa, Rafael Ramírez disclosed the information. He added that investments in the newly established Venezuela-Russia joint venture will amount to USD 1.83 billion this year and the accrued investment as of 2019 will be some USD 28.48 billion.
Ramírez stated that Venezuela-Russia oil output currently stands at 206,000 barrels per day (bpd) and the production goal for 2019 is 1.08 million bpd.
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