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Venezuela's PDVSA offers oil stake to Russian counterpart

Venezuelan state oil company PDVSA has offered Russian counterpart Rosneft a stake in a joint venture in the country's Orinoco Belt extra-heavy crude area.
     
Reuters reported on Thursday morning that Rosneft, Russia's top oil producer, has been offered a 10 per cent stake in the Petropiar joint venture.
    
Reuters suggested it was a sign of the Latin American nation's dire economic situation and Moscow's growing muscle there.
    
PDVSA has a 70 per cent share, and U.S. oil company Chevron Corp holds 30 per cent of the venture, which includes an oil field and a 210,000 barrel-per-day oil upgrader.



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