Tag Archives: Reuters International News Agency

The plant’s capacity also could be increased from planned initial volumes.

Oil is the financial lifeline for the embattled socialist government of President Nicolas Maduro.

Falling production from Venezuela has contributed to a rally in global oil price Brent to nearly $80 a barrel.

OPEC officials in Kuwait just a few days ago tried to hash out a strategy ahead of the June 22 meeting.

The United States has threatened to impose secondary sanctions on European companies doing business with Iran.

The two companies will establish a consortium after completing procedures needed for the agreement to enter force.

Rosneft this week started testing its capacity to increase output.

The agreement has helped raise oil prices to above $80 a barrel and reduce a global oil supply glut.

Rosneft has been long trying to persuade the Kremlin to dismantle Gazprom’s monopoly.

Russia and Saudi Arabia have signaled easing of supply cuts.