BELARUS NEWS AND ANALYSIS
DATE:
07/01/2011
Venezuela to buy oil from Azerbaijan to ensure sales to Belarus
Venezuelan Ambassador to Belarus, Americo Diaz Nunez, said that the Eastern European country will pay at market price
Oil & Gas
Venezuela is ready to purchase crude oil from Azerbaijan to ensure oil contracts signed by the South American country with Belarus, under which the state-run oil company Petroleos de Venezuela (Pdvsa) must ship up to 30 million tons of crude oil (about 210 million barrels of oil) between 2011 and 2012, said Americo Diaz Navarro, Venezuelan Ambassador to Minsk, as quoted by news agency Bielo PAN.
"There may be a situation in which Venezuela could not produce 10 million tons of crude oil" (1.42 million barrels per year), due to an increasing global oil demand or to transportation problems, the Venezuelan envoy said.
This would make Venezuela to purchase crude oil from Azerbaijan to ensure delivery of oil to Belarus.
Diaz Nunez reported that the Eastern European country will pay at market price
Source:
http://english.eluniversal.com/2011/01/07/en_eco_art_venezuela-to-buy-oil_07A4945893.shtml
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