#1 Venezuela Signs $2Bln Oil Deal with Russia to Avoid Default
Posted: Mon May 08, 2006 2:58 pm
Why isn't CNN discussing this?
[quote]Venezuela, the world’s fifth-largest oil exporter, has struck a $2 billion deal to buy about 100,000 barrels a day of crude oil from Russia until the end of the year, the British Financial Times reported on Friday, April 28.
Venezuela has been forced to turn to its ally Russia, because the Latin American country faces a shortfall in its own production, a person familiar with the deal told the paper. This in turn puts the country in risk of defaulting on contracts with “clientsâ€
[quote]Venezuela, the world’s fifth-largest oil exporter, has struck a $2 billion deal to buy about 100,000 barrels a day of crude oil from Russia until the end of the year, the British Financial Times reported on Friday, April 28.
Venezuela has been forced to turn to its ally Russia, because the Latin American country faces a shortfall in its own production, a person familiar with the deal told the paper. This in turn puts the country in risk of defaulting on contracts with “clientsâ€