ESPACIO PUBLICITARIO
CARACAS, Friday February 22, 2008 | Update
 
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Venezuelan oil price hits unprecedented level
  NUEVOMEDIA
Friday February 22, 2008  02:59 PM

Venezuela' crude oil export price soared USD 3.84 to a weekly average of USD 90.13 (compared to USD 86.29 last week), thus hitting a new record, said the Ministry of Energy and Petroleum on Friday.
 
"Average crude oil prices remained strong this week, hitting new historic high levels," said the Ministry on its official website, Efe reported.
 
The Ministry of Energy and Petroleum pointed to "the forecasts of temperatures below the normal in northeastern US," as well as "the explosion of a Texas-based refinery owned by Alon, supply outages in Russia and Nigeria, and weakening US dollar to the Euro and other currencies" as two major factors for the increased price.

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Oil Scenario


Oil exports to China in 2015 are to match current oil shipments to the US
Oil exports to China in 2015 are to match current oil shipments to the US

HYDROCARBONS Rafael Ramírez, Venezuela's Minister of Petroleum and Mining and president of state-run oil company Petróleos de Venezuela (Pdvsa) specified that oil exports to China would be equal to current shipments of Venezuelan oil to the United States.

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