PDVSA stays course on planned projects

Venezuelan national oil company PDVSA remains committed to its investment plans in spite of lower oil prices and global financial woes that have dented country's economy since last year, officials said Friday.

Offshore staff

HOUSTON -- Venezuelan national oil company PDVSA remains committed to its investment plans in spite of lower oil prices and global financial woes that have dented country's economy since last year, officials said Friday.

Energy Minister Rafael Ramirez told legislators in an address that PDVSA will execute its 88 largest projects at a cost of $120 million by 2013. Among the projects he specified are E&P in the Orinoco tar belt and offshore.

2/27/2009

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