30 January 2013

RUSSIA / VENEZUELA / CHINA / ENERGY : 31 Jan UPDATE: Rosneft Invests $10 Billion With Caracas.


     Some sovereigns funds are shying away from all Venezuelan investments until President Hugo Chavez's dicey health issue...and possible succession...are finally resolved.
     Not Rosneft's aggressive new CEO Igor Sechin.
     Russian energy giant Rosneft has agreed to invest $10 billion with Caracas in joint service and drilling oil/gas projects.
    By 2019...Russian energy companies will have invested $17.6 billion in Venezuela...and produce 930,000 bpd.
    Optimistic projections are for 50 million tons annually...with Rosneft's share at 15 million tons.
    The deal would make Rosneft Caracas' leading energy partner by 2012.
    But China is also heavily invested in Venezuela...with an estimated $46.5 billion in deals...since 2008. 
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