Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Tasnim News Agency: Iran's Fordow nuclear facility was only partially damaged by US strikes
UK trade minister Reynolds: We were not involved in Iran attacks but we were informed
Senior Iranian source to Reuters: The number of personnel at the Fordow site had been reduced to a minimum
Senior Iranian source to Reuters: Most of the highly enriched uranium at Fordow was moved to an undisclosed location prior to US attack
Iran's IRGC: The most significant capabilities of the Armed Forces of the Islamic Republic of Iran in this sacred defense have not yet been deployed
Iran's IRGC: In this barrage of missiles, air raid sirens sounded after the missiles made impact, causing the enemy to lose its balance
Iran's IRGC: The deployed missiles are capable of maneuvering while falling and are guided until the moment of impact, and they are equipped with destructive and highly explosive warheads
Iran's IRGC: We have adopted new and surprising tactics to achieve more precise, destructive, and effective strikes
Iran's IRGC: In this operation, we deployed the third-generation multi-warhead ballistic missile Kheibar Shekan for the first time
Iran's IRGC: We launched the 20th wave of Operation True Promise 3 by firing 40 solid- and liquid-fueled missiles

Russia interested in increasing oil production in Venezuela: Novak

  • By Al Mayadeen English
  • Source: Agencies
  • 15 Dec 2022 21:59
3 Min Read

Russian Deputy Prime Minister announces that not only Moscow is interested in increasing production and sales of products, but Venezuela too, asks that Russian companies continue to work in the country.

  • x
  • Venezuelan oil workers take a break at El Palito refinery during the arrival of Iranian oil tanker Fortune near Puerto Cabello, Venezuela, Monday, May 25, 2020 (AP Photo/Ernesto Vargas)
    Venezuelan oil workers take a break at El Palito refinery during the arrival of Iranian oil tanker Fortune near Puerto Cabello, Venezuela, Monday, May 25, 2020 (AP Photo/Ernesto Vargas)

Russia is interested in upping oil production at operating projects in Venezuela. In turn, the latter is in favor of continuing Russian companies' work in Venezuela, Russian Deputy Prime Minister Alexander Novak said.

Novak recalled that many oil and gas companies from all over the world -- Europe, America, Russia -- worked in the country before the sanctions imposed on Venezuela, noting that everyone, except Russia, left after the sanctions.

"In the projects in we participate in, for our part, we are interested in increasing production, timely settlements, sales of products. The Venezuelans do not just confirm — they ask that our companies continue to work in Venezuela," Novak told the Rossiya 1 broadcaster.

Read: Venezuela is ready to supply the global oil and gas market - Maduro

The Biden administration has been eyeing Venezuela for its vast reserves of crude oil as an additional source of the valuable resource in light of surging fuel prices in the United States. However, Washington does not intend to blanket lift the sanctions imposed on the Latin American country, sources told Russian news agency Sputnik in November.

Related News

Rosatom to evacuate Bushehr NPP at slightest threat: Rosatom Chief

Putin rules out Sumy takeover, warns Ukraine over dirty bombs usage

The United States wanted to lower gasoline prices for domestic consumers after the Organization of Petroleum Exporting Countries (OPEC+) made cuts in its production line in a bid to stabilize the global market.

Read: Eyeing its own interests, the US considers easing Venezuela sanctions

According to people familiar with the matter, the United States does not intend to offer Venezuela any sanction relief, though the country making a shift in its policy toward the private sector might allow it to recover the debt owed by the Venezuelan state-owned oil company PDVSA, which seems like a step in a direction President Nicolas Maduro is willing to take.

PDVSA stopped paying creditors in 2017 after the US imposed harsh sanctions on it as part of its sanctions on Venezuela and its people.

Meanwhile, Washington is concerned about the dependence Venezuelan refineries developed on Iranian heavy crude, especially El Palito. Iran has exported 6.8 million barrels of its heavy oil in the past six months to Venezuela's refineries.

Iranian Oil Minister Jawad Owji announced last month that the Islamic Republic launched its first overseas Iranian-built refinery in Venezuela, El Palito, which has a capacity of refining 100,000 barrels of Venezuelan crude per day.

Iran and Venezuela have managed to withstand economic pressure from the United States and have closely cooperated to offset the impact of illegal sanctions, particularly those targeting their energy sectors.

  • Russia
  • Venezuela
  • Oil Production
  • Alexander Novak

Most Read

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025
Iran's heavy barrages impact multiple Israeli targets overnight

Iran's heavy barrages impact multiple Israeli targets overnight

  • Palestine
  • 18 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Iran’s Bavar-373 air defense system on display during a military drill (Mehr News Agency)
Politics

Iran intercepts Israeli drones near Tehran, multiple cities

The Israeli Iron Dome air defense system fires to intercept missiles during an Iranian attack over Tel Aviv, Occupied Palestine, Sunday, June 15, 2025 (AP)
Politics

Iran warns aid to 'Israel' will be treated as aggression

US President Donald Trump arrives to board Air Force One at Joint Base Andrews, Friday, June 20, 2025, en route to Montclair, New Jersey (AP)
Politics

Trump, Erdogan made covert attempts to hold talks with Iran: Axios

Ansar Allah supporters surround a giant Iranian flag during an anti-US and anti-'Israel' weekly rally in Sanaa, Yemen, Friday, June 20, 2025 (AP)
Politics

US ships in Red Sea will be targeted if US attacks Iran: YAF

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS