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Venezuela intends to increase purchasing Azerbaijani oil

06 January 2011 14:48 (UTC +04:00)

The Ambassador said that the contract provides for the delivery of Santa Barbara type of oil to Belarus. The oil is similar to Azerbaijani oil. According to the source, Venezuela may fail to extract 10 million tonnes of this oil, which is in high demand around the world. The Venezuelan company PDVSA may buy the necessary amount of Azerbaijani oil in order to ensure that 10 million tonnes of oil is delivered to Belarus. The oil will be transported via the Odessa-Brody pipeline. Belarus will have to pay only for the delivery. The Ambassador believes the cooperation is profitable for both parties, particularly Belarus.

The diplomat also said that the Belarusian-Venezuelan joint venture Petrolera BeloVenesolana is a successful example of the good operation of the strategic alliance. Like all the other similar companies Petrolera BeloVenesolana sells its products to PDVSA and earns money for both parties. â€œIn the near future we will learn the results of the joint ventureâ€™s performance. The results will considerably exceed results of the year 2009 because more oil fields have been assigned to the company,â€ said the diplomat.

Speaking about extracting oil in the Orinoco River basin, the diplomat said that much more investments are required due to the type of oil fields there. Usually major international companies form an alliance for such endeavors. Belarus has been invited to take part in these alliances. Virtually all the worldâ€™s largest oil companies operate in the Orinoco River basin.