Two sources said the offer was part of a larger package put to Rosneft as PDVSA seeks to raise money for major debts with providers and bond payments.
Venezuelan acting President Nicolas Maduro made a pilgrimage to late socialist leader Hugo Chavez's birthplace on Tuesday and pledged to win the April 14 election in his honor.
Hugo Chavez's exit from the world stage may take the sting out of an ideological battle that has enveloped Latin America since a new batch of leftists started taking power about 15 years ago to challenge US "imperialism".
Slum dweller Juan Carlos Villamizar bid farewell to Hugo Chavez on Friday, crediting the late Venezuelan leader with saving his life in the same poor district where Chavez saw the birth of his own political rise.
As throngs of mourners pay homage to Venezuelan leader Hugo Chavez, his opponents are praying his self-declared socialist revolution will die with him, and some are even breaking out the champagne.
Robert Perkins, Senior News Correspondent, Platts gives us his analysis on what the impact of Hugo Chavez's death will be on the Venezuelan oil industry as well as the global oil markets.
Iran declared a day of national mourning on Wednesday after the death of Venezuelan President Hugo Chavez, who shared the Islamic Republic's loathing for US "imperialism".
Venezuelan President Hugo Chavez died on Tuesday after his battle with cancer, ending the socialist leader's extraordinary 14-year rule of the OPEC nation.
The corpse of Venezuelan President Hugo Chavez will lie in state through Friday when a public funeral will be held with invited guests from across Latin America, foreign minister Elias Jaua said late on Tuesday.
Chavez died in hospital on Tuesday, finally succumbing to the cancer after four operations in Cuba. His death ended 14 years of charismatic, volatile rule that turned him into a major world figure.
Three years after being feted by star-struck Latin American leaders, U.S. President Barack Obama faces skepticism and disappointment at this week's Summit of the Americas for failing to meet promises of a new era in relations with the region.
Venezuelan President Hugo Chavez is all set to nationalize the country's gold industry, moving its international reserves out of western countries.
Venezuela's President Hugo Chavez urged the OPEC producer group on Friday to raise its quota for the South American nation given its vast reserves in the Orinoco heavy crude belt.
Colombian pop star Shakira has given Venezuelan President Hugo Chavez an autographed electric guitar that is painted red, the color of the leader's socialist political movement.
Amrita Sen of Barclays Capital, in an interview with CNBC-TV18’s Udayan Mukherjee and Sonia Shenoy, spoke about the rumblings in the crude market.
A ray of hope has emerged that maybe some resolution could be found to the Libyan crisis. Katerina Dalacoura, Lecturer at the London School of Economics, in an interview with CNBC-TV18’s Menaka Doshi, gave her view on how this situation is going to develop over the course of the next few days.
There is a ray of hope that the Libyan crisis may be resolved soon. This after Libyan president Gaddafi, and the Arab league president agreed on a peace plan put forward by Venezuelan president Hugo Chavez.
Venezuela's President Hugo Chavez said on Saturday he had no plans to nationalize the local unit of Spanish bank BBVA because a senior company official had apologized for his comments during a testy exchange.