By THE ASSOCIATED PRESS
BELO HORIZONTE, Brazil (AP) — Brazil's state-run petroleum company has signed new oil contracts with Venezuela that give Petrobras Brasileiro SA a 40 percent production stake in Venezuelan fields where it currently operates.
The contracts, signed Saturday, give Venezuelan state oil company Petroleos de Venezuela SA, or PVDSA, a 60 percent stake, Petrobras CEO Sergio Gabrielli said Sunday at a press conference before the annual meeting of the Inter-American Development Bank.
Venezuelan President Hugo Chavez said 17 Venezuelan and foreign companies agreed Friday to turn privately run oil fields into joint ventures controlled by PVDSA.
Under the new arrangement, PDVSA holds a minimum 60 percent stake in the new partnerships, splitting oil revenues with companies.
The new pacts that convert 32 privately run oil fields into 30 joint ventures are replacing old agreements that gave the foreign companies a bigger share.
Exxon Mobil Corp., the world's second-largest integrated oil company, and Italian oil and gas company Eni SpA did not sign the agreements.
Exxon avoided the new terms by selling its stake in the 15,000-barrel-a-day Quiamare-La Ceiba field in December to its partner, Repsol YPF SA, while Eni was not permitted to participate in the joints ventures due to pending Venezuelan tax debts.
Spanish-Argentine Repsol YPF, Royal Dutch Shell PLC and China National Petroleum were among the 17 Venezuelan and foreign oil companies that agreed to the new legal framework.
Venezuela's Congress approved new oil field guidelines on Thursday.
News and information on Shell Plc
John Donovan’s ebooks
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
SHELL OFFICIAL ENDORSEMENT OF THIS WEBSITE
Critic’s corner
OVER 500 EXTERNAL PUBLICATIONS CITING OUR SHELL WEBSITES
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our non-profit websites and/or our activities.
John Donovan, the website owner
DISCLAIMER
This is not a Shell website. That fact should be abundantly plain from the overall content of this home page and our sister Shell focussed websites, including shellnazihistory.com. Click on the Disclaimer link at top of this page for more information. You Can Be Sure Shell does not endorse or approve of this website. There are no subscription charges nor do we solicit or accept donations. No advertising is accepted. It is an entirely free to use non-commercial website drawing attention to the negative side of Shell. The Shell logo image with the white text used on this website, as per the above example, is in the public domain because its copyright has expired and its author is anonymous. It can be found here on WIKIMEDIA COMMONS. Use this link for Shell’s own website.
SHELL PROPPED UP APARTHEID
ARTICLE: U.S. unions urge boycott of Shell to fight apartheid: 19 Jan 1986
ARTICLE: Shell, South Africa and Apartheid: 16 Oct 2012
ARTICLE: Shell propped up racist apartheid regime in South Africa: 24 Nov 2012
ARTICLE: The Neptune Strategy:Shell, propped up Apartheid in South Africa: 26 Nov 2012
ARTICLE: Shell accused of benefiting from South African apartheid-era land law: 21 March 2013
ARTICLE: THE CAMPAIGN TO END APARTHEID: 12 Dec 2013
RELEVANT PAGES FROM "A HISTORY OF ROYAL DUTCH SHELL, VOLUME 3, PUBLISHED IN 2007. PREPARED BY SHELL'S PAID HISTORIANS. DEALS WITH SHELL'S SUPPORT FOR APARTHEID
SHELL TOXIC BRANDS
Comment Rules
- Please show respect to the opinions of others no matter how seemingly far-fetched.
- Abusive, foul language, and/or divisive comments may be deleted without notice.
- Each blog member is allowed limited comments, as displayed above the comment box.
- Comments must be limited to the number of words displayed above the comment box.
- Please limit one comment after any comment posted per post.