Eni signs agreement to relaunch heavy oil project in Venezuela [Yahoo! Finance]
REPSOL SA SP/ADR (REPYY)
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Source: Yahoo! Finance
Venezuela's ?oil ministry and state-run oil company PDVSA to relaunch a heavy ?crude project in the Orinoco Belt, the company and government officials said. PDVSA's key partners ?have been signing preliminary agreements to confirm interest or expand their oil and gas projects as the government progresses in a broad review of all contracts in the industry as part on an oil reform. U.S. Chevron, British ?Shell and Spain's Repsol ?also have inked similar agreements to confirm or expand their partnerships in recent weeks. The pact with Eni was ?signed in Caracas in presence of Venezuela's interim President Delcy Rodriguez, Eni's Chief Executive Claudio Descalzi, PDVSA's head Hector Obregon and Venezuela's oil ministry Paula ?Henao. It ?was broadcasted in state TV. The company's ?investment plan in the country ?is being drafted and should be completed by year-end, Descalzi said. "This is one of the most important bets on our country in recent times," Rodriguez said. PDVSA and E
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