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    market news

    TNK-BP’s JV with Petroleos de Venezuela Increases Output by 11%

    Investing News Network
    Jul. 11, 2012 05:14PM PST
    Resource Investing News

    NASDAQ reported TNK-BP’s (OTC Pink:TNKBF) JV with Petroleos de Venezuela increased its production of viscous oil by 11%.

    NASDAQ reported TNK-BP’s (OTC Pink:TNKBF) JV with Petroleos de Venezuela increased its production of viscous oil by 11%.

    As quoted in the market news:

    In a statement released Tuesday, TNK-BP said its plans to produce 145,000 barrels a day by next year at the jointly operated Petromonagas heavy oil upgrader, which is in Venezuela’s vast and mostly untapped Orinoco heavy oil belt. The company owns 16.7% of the upgrader unit while the rest is controlled by PdVSA.

    Click here to read the full NASDAQ report.

    heavy oil upgraderheavy oilmarket news
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