July 29, 2012

Venezuela, Argentina Build South American Energy Integration

Venezuela President Hugo Chavez met with Argentine Planning Minister Julio De Vido last Monday in Caracas for discussions that saw the head of the Caribbean nation invite his South American allies to join in the oil exploitation of the largest crude reserves in the world.

The conversations focused on cooperation between the Venezuelan state oil company PDVSA and the recently re-nationalized Argentine firm YPF to explore and drill in the Orinoco Belt, home to nearly 300 billion barrels of crude. Read more.


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