US Protects 35% Stake in Venezuelan Oil Venture
The US has structured a 35% stake in a Venezuelan oil venture through warrants designed to protect its ownership from dilution as the project raises capital.
Venezuela | Egypt Oil & Gas
Eni Becomes Operator of Venezuela’s Giant Junín-5 Oil Field
Italian energy company Eni has signed a 25-year production contract with Venezuela’s state-owned oil company PDVSA to develop the giant Junín-5 heavy oil field in the Orinoco Belt, taking exclusive operatorship of ...
Venezuela’s National Assembly Backs Major Oil Deal with US
Venezuela’s National Assembly has backed an oil deal with the administration of US President Donald Trump, ahead of a planned visit to Caracas by US Energy Secretary Chris Wright.
The agreement would give t ...
Trump Says Venezuelan Oil Deal Will Help Replenish US Strategic Reserve
Trump said oil from a new Venezuela deal will be used to replenish the depleted US Strategic Petroleum Reserve, as Washington moves to gain greater control over Venezuela’s vast crude reserves.
US Plans 35% Stake in Venezuelan Businessman’s Oil Venture
The US plans to acquire a 35% passive stake in Venezuelan businessman Alejandro Betancourt’s North American Blue Energy Partners.
SLB, Formentera Plan to Reactivate Oil Rigs in Venezuela
Global technology company SLB and private equity firm Formentera Partners are working to reactivate oil drilling rigs in Venezuela or potentially bring additional rigs into the country in the coming months, execut ...
US Becomes Top Destination for Venezuelan Oil Following Sanctions Relief
About half of Venezuela’s oil production is now being exported to the United States (US), Reuters reported, quoting US Energy Under Secretary, Kyle Haustveit, highlighting the rapid shift in Venezuela’s crude trad ...
Venezuela Awards Gas License to bp, XRG, and UCC
Venezuela has awarded a license to BP, XRG, and UCC Holding to develop the second phase of the Loran offshore gas field, as Caracas seeks to attract foreign investment and expand natural gas production.
Eni Restarts Oil Lifting from Venezuela to Recover Gas-Related Depts
Eni resumed receiving Venezuelan crude shipments in April as a form of payment for natural gas produced in the country, a move to gradually recover outstanding debts owed by the government, according to Reuters.
Chevron, Shell Near First Major Oil Deals in Venezuela After Maduro Capture
International oil majors, Chevron and Shell, are nearing agreements to expand oil and gas production in Venezuela, marking the first major deals since the US capture of President Nicolás Maduro in January, five so ...
