Minister of Finance, Industry and Commerce Ramón Lobo confirmed in an interview this week that Venezuela will meet its debt payments for 2017 in light of this year’s rise in global oil prices.
The multimillion dollar pipeline will reportedly link Venezuela’s Dragon and Mariscal de Sucre fields, located on the northern coast of eastern Sucre state, with the Hibiscus gas field in Trinidad.
Venezuela’s Oil Minister Euologio del Pino has branded an OPEC deal to cut production across member states as “another achievement” of the Bolivarian revolution.
Venezuelan state oil company PDVSA signed a US $2.2 billion investment deal Thursday with China’s National Petroleum Company (CNPC) to increase production by 227 thousand barrels per day (BPD).
Venezuela’s state oil firm PDVSA has hinted it could begin defaulting on debt obligations as early as next week, amid concern over a failed overture to bondholders that fell flat Friday.
