HomeEconomyOilIndian company Jindal will extract crude oil in the Orinoco Belt

Indian company Jindal will extract crude oil in the Orinoco Belt

The executives of the Indian company agreed to partner with PDVSA to operate in the Petrocedeño mixed company

The Indian company Jindal Power Ltd. will partner with Petróleos de Venezuela SA (PDVSA) in a joint venture, in order to extract crude oil from the Orinoco Oil Belt.

As published by Bloomberg cited by the web portal of Banking and Business, the information was provided by people familiar with the agreement and this occurs a few months after the Asian company obtained a contract to operate in the largest iron mineral complex in Venezuela.

The executives of the Indian company agreed to partner with PDVSA to operate in the Petrocedeño joint company.

This would be the first foray of this steel firm into the oil business, which seeks to fill the space left by TotalEnergies SE and Equinor ASA in 2021.

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