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BREAKING
Da Silva: What is happening in Gaza is not a war, it is a genocide
Da Silva: Even the Jewish people do not want this war; it is revenge by a government against the possibility of establishing a Palestinian state
Brazilian President Lula da Silva: What we are seeing is not a war between two armies. [What we have is a] completely professional army that is killing women and children in the Gaza Strip.
Hamas: We affirm our readiness to immediately begin a round of indirect negotiations to reach an agreement on the points of contention
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Al Mayadeen's correspondent: Israeli occupation forces blew up Noura Al-Kaabi Hospital, designated for kidney dialysis patients, in the northern Gaza Strip
Al Mayadeen's correspondent: Israeli drone targets a car on the Ayta al-Shaab-Debel road in southern Lebanon
Yemeni Armed Forces Spokesperson Yahya Saree: The remaining airlines that have not yet complied with the ban are urged to take this into serious consideration to ensure the safety of their aircraft and passengers
Yemeni Armed Forces Spokesperson Yahya Saree: The YAF, after successfully imposing a partial ban on air traffic at Lydd Airport, are now working to impose a full ban on air traffic at the aforementioned airport in the coming period
Yemeni Armed Forces Spokesperson Yahya Saree: YAF's UAV Unit carried out three military operations targeting three vital Israeli sites in the occupied Palestinian areas of Yafa, Isdud, and Umm al-Rashrash, using three drones

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

UK to dramatically increase weapons production amid shortages

Kiev attacked military airfields in 5 Russian regions, 1st in Siberia

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

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