Texaco fuel card news: Venezuela 'likely' to auction new oil fields
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02 March, 10 Oil fields in the Orinoco region of Venezuela are likely to be auctioned, the country's oil minister Rafael Ramirez has said. Reuters reports when Ramirez was asked if more oil fields would be available for auction, he said "yes, probably". Speaking on state television, the minister said: "With what we have here with the Junin blocks and the Carabobo blocks … we are very close to our goal." The comment follows the agreement from Chevron to help develop two oil projects in Orinoco's Carabobo area. In February, a development of two $15 billion (£10.1 billion) projects by Chevron and Repsol was announced after the country's first oil auction in 11 years. Ramirez confirmed that a project which was included in the February Carabobo bidding but did not attract a high enough offer could be included in these later auctions. Last year Russian and Chinese companies were assigned oil fields in the Junin area of Orinoco after Venezuela struck a deal with the firms. Posted by Sean Webb 
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