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 Whoa! Venezuela Opts For Euros In Oil Contracts

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Whoa! Venezuela Opts For Euros In Oil Contracts Vide
PostSubject: Whoa! Venezuela Opts For Euros In Oil Contracts   Whoa! Venezuela Opts For Euros In Oil Contracts Icon_minitimeMon Mar 17, 2008 4:47 am
CARACAS (AFP) - Venezuelan state oil giant PDVSA has decided to sign some oil contracts in euros in the face of a plummeting dollar, local media reported, citing officials.

"There are some contracts in euros, contracts for crude, products and spot markets in euros. This is a subject which we are working on," said energy minister and Petroleos de Venezuela (PDVSA) chief, Rafael Ramirez, in an interview with the journal El Universal published Friday.

It remained unclear which oil sales would require payment in euros.

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