09/21 Closing prices / revised 09/22/2023  06:30 GMT  |    09/20    OPEC Basket      95.81        –1.08 |    09/21   Mexico Basket (MME)   $86.79  +0.01 06/23  Venezuela Basket (Merey) $57.37  + 1.15 ( from previous month)  (Est. OPEC)  | 09/21    NYMEX WTI Texas Intermediate  October  CLV23  $89.63     -0.03  | 09/21    ICE Brent November  BRNX23   $93.30   -0.23 | 09/21    NYMEX Gasoline October  RBV23    $2.62    +0.07   09/21    NYMEX  Heating Oil  October HOV23   $3.37     +1.2%   |  09/21    Natural Gas October NGV23    $2.84      -2.8%    09/15   Active U.S. Rig Count (Oil & Gas)    641      +9 | 09/22    USD/MXN Mexican Peso   17.1960    Live data  | 09/22      EUR/USD  1.0653    Live data  | 09/22   US/Bs. (Bolivar)      $33.9289000  ( data BCV)    |

Russia discusses debt, energy stability with Venezuela – Reuters

Venezuelan Oil Minister Tareck El Aissami meet with Russian Deputy Prime Minister Alexander Novak, in Caracas, Venezuela, December 14, 2022. (Twitter)

Reporting by Deisy Buitrago, Reuters

EnergiesNet.com 12 15 2022

Russian Deputy Prime Minister Alexander Novak met on Wednesday with Venezuela’s oil minister in Caracas, where they discussed oil market volatility and the status of Venezuela’s outstanding debts to Russia.

Novak, who is also in charge of Moscow’s ties with the Organization of the Petroleum Exporting Countries (OPEC), visited as part of an inter-governmental commission, which is held regularly, a Novak spokesperson said earlier.

“We underline the importance of keep working together to stabilize the international energy market within the framework of OPEC+ and the Gas Exporting Countries Forum,” Novak said through a translator in a broadcast speech following his meeting with Venezuelan oil minister Tareck El Aissami.

“Oil- and gas-producing countries are the solid keystone of our trade and financial cooperation, which continues showing its resilience despite sanctions and pressure on Russia and Venezuela,” Novak said

Moscow is negotiating a debt restructuring deal with Venezuela, Russian agency Interfax said on Wednesday, citing an official from Russia’s finance ministry. The possible adoption of Russia’s Mir card payment system in Venezuela was also discussed, Tass news agency said.

The Mir card is accepted in Cuba, South Korea, Turkey, Vietnam and a handful of former Soviet republics.

Venezuela owes billions of dollars to China and Russia from loans extended under late President Hugo Chavez. U.S. sanctions on the South American country and an acute economic crisis under President Nicolas Maduro have made it difficult to honor the loans, payments to bondholders and other creditors.

The two countries signed a total of 11 agreements covering everything from medicine supply to oil well services, Venezuela’s oil ministry said in a statement.

Venezuela holds the world’s largest reserves of crude and is a member of the OPEC group of leading global oil producers. Maduro is an ally of Kremlin chief Vladimir Putin.

Europe introduced an embargo on purchases of seaborne Russian oil starting this month, trying to cripple Moscow’s military efforts in Ukraine. The United States imposed its own ban on Russia-sourced oil in March, while Moscow has increased its energy supplies – a key source of revenues for its state coffers – to Asia.

Venezuela has been under U.S. oil trading sanctions since 2019, but in November the U.S. Treasury Department issued a license to Chevron (CVX.N) to expand operations in Venezuela, part of Washington’s moves to encourage talks between Maduro and the opposition toward an election in 2023.

Reporting by Deisy Buitrago in Caracas; Editing by Rosalba O’Brien

reuters.com 12 14 2022

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com

CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

Scroll to Top