November 30, 2005

• Cadafe starts up US$30mn power line in Falcón state
• Pequiven plans to invest US$10bn from 2006-2012
• Venezuela will award new exploration and production licenses in the Orinoco belt by early 2007
• Shell and BP deepen links with Venezuela's PDVSA

• Venezuela and Colombia agree on tight energy network

• Venezuela is sending cheap oil to Massachusetts

• Venezuela will produce and export gasoline additive
• South Korea to expand energy cooperation with Venezuela
• President Chávez pledges South American gas pipeline in talks with Argentina's Kirchner

• PDVSA could tender 7 offshore gas blocks in 2006
• Fitch upgrades Citgo industrial revenue bonds

• Venezuela to expand heavy crude and fuel oil export to China
• World Bank supports plans for pipeline through South America

• PDVSA studies Chinese crude and fuel oil transport options
• Venezuela will offer offshore exploration & production licenses in Deltana and Paria in 2006

• Venezuela awards 3 exploration and production licenses in Rafael Urdaneta offshore blocks

• PDVSA hopes to land joint ventures with Russian oil giants

• Venezuela begins to measure its high-density oil reserves