SME Times is powered by   
Search News
Just in:   • India less vulnerable to US tariff shocks than others: Report  • India’s raw silk production increases to 34,042 metric tonnes in April-January  • Amit Shah to attend IFFCO's 50th anniversary celebration in Gujarat on April 6  • Centre's Cotton Purchases from Farmers Exceed 99.4 Lakh Bales This Season  • India, Thailand bilateral trade ties set to strengthen during PM Modi's visit 
Last updated: 27 Sep, 2014  

RIL.9.Thmb.jpg RIL joins Venezuela oil block development plan

RIL.9.jpg
   Top Stories
» India less vulnerable to US tariff shocks than others: Report
» India’s raw silk production increases to 34,042 metric tonnes in April-January
» India, Thailand bilateral trade ties set to strengthen during PM Modi's visit
» FM Sitharaman to visit London next week for talks to bolster India-UK economic ties
» Govt’s Sahkar Taxi to Take on Ola, Uber with Bike & Cab Services
SME Times News Bureau | 11 Oct, 2013
Reliance Industries (RIL) and Venezuelan state oil company Petroleos de Venezuela (PdVSA) have signed a joint study agreement for a development plan for the Ayacucho Block 8 in Orinoco oil belt of Venezuela, RIL said in Mumbai on Thursday.

"RIL and PdVSA have also extended the term of the MoU signed between the parties last year by one year for continued cooperation," a company release added.

RIL signed the MoU last year with PdVSA to produce heavy oil in the Orinoco extra heavy crude belt.

"The signing of the joint study agreement for Ayacucho Block 8 and the extension of MoU marks further strengthening of the long standing relationship between RIL and PdVSA as well as between India and Venezuela," RIL said.

RIL buys crude oil from Venezuela for its refineries in Jamnagar. Its refineries are suited to process cheaper Venezuelan crude, which provide better margins.

RIL and PdVSA also plan to work together on studies of how to update and improve Venezuela's refinery network, as well as on tapping offshore natural gas reserves.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter