Venezuela plans new oil deal with Total

[Judi Lynn]

Source: Business Week/Associated Press

November 19, 2007, 7:08PM ET
Venezuela plans new oil deal with Total

Venezuelan President Hugo Chavez said Monday his government plans to sign new accords with French oil company Total S.A. to jointly run projects in the lucrative Orinoco River basin.

Chavez, whose government took majority control of the country's last private oil projects earlier this year, announced the plans to reporters outside his hotel in Paris late at night after arriving for talks with French President Nicolas Sarkozy.

"Venezuela wants to become a safe, trustworthy provider of petroleum and energy to France," Chavez said. "France has great technological advancement."

He did not give details about the new accords except to say they would be joint projects between Total and the state oil company Petroleos de Venezuela SA.



Read more: http://www.businessweek.com/ap/financialnews/D8T12C1G0.htm

[StClone]

1. Surrender Monkeys Got "OUR" Oil

Gotta love Oil man Bush's great ability to drill dry holes.

[mrfixit]

2. Chairman Mo at work again.

[boricua79]

3. as long as the details of the plan and division of profits

are fair and equitable for the Venezuelan people, let business continue!