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New oil and gas projects deals

by editor2
August 10th, 2006 (Carlos Camacho): Venezuela’s energy & oil ministry and the Caracas stock exchange are discussing ways for new oil and natural gas projects to raise money by trading on the bourse, exchange president Nelson Ortiz told BNamericas.

The joint venture companies that operate the projects, which include partnerships between state oil firm PDVSA and private oil companies, would launch the shares.

“The realistic way to do it is on a project-by-project basis,” Ortiz said, adding PDVSA will not trade shares alone on the market in the short term.

“With the present interest rates, it is a cheaper way to finance. This way you also incorporate the workers as shareholders and, most importantly, the common Venezuelan,” Ortiz said.

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