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Algeria in Talks to Export Crude to Venezuela

Source: Reuters 9/2/2014, Location: Africa

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Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report.

Last week, a document from Venezuela's state-run energy company PDVSA seen by Reuters showed Venezuela was considering importing crude oil for the first time and could use Algerian light crude as blending stock to boost sales of its own extra-heavy oil.

"Yes, we are in talks," Yousfi told Reuters when asked whether Algeria was planning to export crude oil to Venezuela. He declined to provide details.

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