Moscow, through the state oil giant Rosneft, is trying to build influence in places where the United States has stumbled or power is up for grabs. And it is angling to bid for control of Iranian oil fields as tensions between Tehran and Washington escalate. That has forced Rosneft to go far and wide to find new oil fields to replace its reserves. The state oil company, Petróleos de Venezuela, or Pdvsa, used the money to pay its bills and keep its oil fields producing. The Russian company resells about 225,000 barrels a day of Venezuelan oil, equivalent to 13 percent of Venezuela’s exports.

Source: New York Times October 29, 2017 22:41 UTC