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Venezuelan state oil company PDVSA informs customers of recently opened accounts to make deposits with Russian bank Gazprombank, according to Reuters. The measure is a reaction to the new financial sanctions imposed by the United States, which came into effect on January 28, to block the access of Nicolás Maduro's government to oil revenues.
The choice of Venezuela by a Russian is due to the good relations between the two countries. PDVSA urged foreign joint venture partners in the Orinoco Basin to formally decide whether to maintain the projects, according to two sources reported by Reuters. Among the companies involved are Equinor ASA from Norway, Chevron from the United States and Total from France.
PDVSA requested the joint venture with Equinor and Total to suspend extra-heavy oil extraction due to the lack of naphtha necessary to dilute production, the United States prohibiting producers from exporting it Venezuela. /Reuters
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