Oil giants Venezuela, Qatar sign energy deals

GMT 07:05 2015 Thursday ,26 November

Arab Today, arab today Oil giants Venezuela, Qatar sign energy deals

Venezuelan President Nicolas Maduro (L)
Caracas - AFP

Major oil producers Qatar and Venezuela signed energy, trade and finance agreements on Wednesday during a visit Wednesday by the ruler of the Gulf State to Caracas.

"We are signing eight agreements to continue developing our relations in energy, economy, trade, finance and transport between cities such as Doha and Caracas," said Venezuelan President Nicolas Maduro at a meeting with Qatar's Sheikh Tamim bin Hamad Al-Thani.

The Qatari leader added that the new deals reflected "development of our bilateral relations".

They gave no further details of the deals.

Maduro faces a challenge in December legislative elections, which polls have indicated the opposition could win.

Maduro said Qatar had been a "partner" of Venezuela "for many years in defense and oil and now too in gas," as he welcomed the emir to his presidential palace.

The two countries are members of OPEC, the grouping of most of the world's biggest oil producers.

Maduro has been trying to persuade fellow OPEC members to agree to a cut in oil production, since falling prices have hurt Venezuela's main source of outside income. But major producer Saudi Arabia has resisted.

Maduro said on Tuesday that there would soon be positive "surprises" that would boost oil prices, but he did not give details.

OPEC producers meet on December 4 in Vienna.


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