News // Companies
Venezuela For Setting Oil Prices in Euros
02 June 2006 , 12:57436
Venezuela has backed a proposal to sell oil in euros instead of U.S. dollars, Energy and Mines Minister Rafael Ramirez said on Thursday.
The remarks came ahead of a meeting of the Organization of Petroleum Exporting Countries (OPEC) in Venezuela's capital on the same day.
Ramirez, who is also the president of the state oil company PDVSA, said "If a market in euros is created, with the euro as a reference, we could send our supplies so they are sold under this (currency)."
Responding to Ramirez's remarks, Edmund Daukoru, president of OPEC, said some member countries had raised the possibility but added that they had not formally tabled the proposal to the bloc.
09:39 07.06.2013Venezuela Secures $4B Funding from China
10:21 02.08.2012Venezuela's opposition wants to scrap preferential oil deals
00:00 27.10.2010Iran to Help Venezuela with LNG Production
10:17 14.10.2010Venezuela Takes More Foreign Companies Under State Control
09:48 20.04.2010$16.32 billion will be invested by China and its local partners in Venezuelan Orinoco Belt