Venezuelan Minister goes to Russia to discuss the issue of oil

Venezuelan Minister goes to Russia to discuss the issue of oil


Eulogio del Pino February 1 will be discussed with Russian energy Minister Alexander Novak joint action to halt the fall in oil prices.

MEXICO city, 30 Jan –. The Minister of oil of Venezuela — the head of the company PDVSA of Eulogio del Pino will visit Russia on February 1 and will hold a meeting with Russian energy Minister Alexander Novak.

This trip will be made by order of the President of Venezuela, Nicolas Maduro, sent del Pino on a tour of OPEC member countries and States that are not members of this organization, in an attempt to gain support for joint action to halt the fall in oil prices.

On Tuesday, 2 February, is scheduled to meet del Pino with representatives of the Russian oil industry, said the Agency AVN.

On Wednesday he will hold talks with the Minister of energy of Qatar Mohammed al-Garden, where dal Pino promises and to articulate specific proposals of Venezuela. “After that I will visit Iran, Iraq and Saudi Arabia, which are the key countries, and it is very important that we all come to a consensus,” said del Pino.

Maduro said earlier that proposes to harmonize the findings of measures of reinstatement of the oil market, if all stakeholders come to an agreement.

Oil analyst and Director of the energy Agency PetroleumWorld Elio EIA said earlier that the market should respond to the possible actions of Russia, controlling along with Saudi Arabia oil production totaling about 20 million barrels a day, in case of reaching any agreement with OPEC. At the same time, the expert stressed that even if such agreement from reducing production to wait too much change in the price of oil is not necessary – it can only affect the suspension of falling prices and maintaining them at a reasonable level at 30 to 40 dollars per barrel in the coming months.