Venezuela does not support increase in OPEC's production quota

Delegates from more than 100 international oil companies are participating in the Third World Heavy Oil Congress held in the island of Margarita

Energy
The Venezuelan government "does not share" the position according to which the Organization of the Petroleum Exporting Countries (OPEC) should heighten production due to the increase of crude oil prices, as suggested by some member countries, said Rafael Ramírez, the Minister of Energy and Petroleum.

According to Venezuela's oil minister, the world oil business faces many risks and there is a lot of speculation in oil markets. Therefore, Venezuela will support a "cautious" position in the OPEC meeting to be held in Angola in December.

Delegates from more than 100 international oil companies are participating in the Third World Heavy Oil Congress held in the island of Margarita. The meeting was inaugurated on Tuesday by the Minister of Energy and Petroleum.

"We are going to change dramatically the market position regarding the availability of energy resources in the future," Ramírez said.

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IISS: The FARC financed Chávez before 1999

10:07 AM. DIPLOMACY. Admired by the Colombian guerrilla after his coup attempt in 1992, the then lieutenant colonel Hugo Chávez Frías received financial support by the Colombian Revolutionary Armed Forces (FARC) for his projects after his capture that year. This mostly explains the relationship and "debt" between the parties, as revealed by a paper of the International Institute for Strategic Studies (IISS) of the United Kingdom.