Royal Dutch Shell Plc will provide some $400 million in financing to boost oil output at Venezuela’s Petroregional del Lago, a joint venture with state-run PDVSA, the South American country announced on Tuesday.
Petroregional, which operates the Urdaneta oilfield in Venezuela’s western Maracaibo Lake, produces between 30,000 barrels per day and 35,000 bpd, according to Shell’s website. Shell holds a 40 percent stake in the venture.
The agreement aims to increase total production to 344 million barrels between the 2017 and 2035 period, PDVSA said in a statement, or an average of around 52,400 bpd.
“As a minority partner, (Shell) has decided to start a financing of $400 million for the joint venture we have in the lake,” Venezuela’s oil minister and PDVSA president, Eulogio Del Pino, said in an interview broadcast over PDVSA’s radio station.
Shell did not immediately respond to a request for details on the financing arrangement.
Recession-hit OPEC nation Venezuela is seeking to recover its oil production after a nearly 10 percent tumble in output this year. Operations have been crimped by a lack of investment, shortages of equipment and spare parts, a brain drain, and crime.
(Reporting by Deisy Buitrago and Alexandra Ulmer; Editing by Frances Kerry)
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
