Venezuela signed oil-related contracts with two US companies as the government of the South American country seeks to attract investment and boost crude production, a report said.
Industry leaders discussed Venezuela’s oil and gas reserves, emphasizing the importance of international partnerships, technology, and infrastructure development to unlock resource potential to help meet future global energy demand. Venezuela used an energy industry gathering in Houston on Aug. 19 to promote investment opportunities for US oil and gas companies, independent operators, service companies, technology […]
Venezuela is opening more of its oil and gas sector to private investment as the country seeks capital to rehabilitate mature fields, rebuild aging infrastructure and ultimately increase crude production toward 3 MMbpd, government and PDVSA officials said Aug. 19. Speaking at an industry event in Houston, Venezuelan Hydrocarbons Minister Paula Henao said recent regulatory reforms have […]
XRG is making one of the most significant new foreign investments yet aimed at unlocking Venezuela’s vast offshore natural gas resources for international markets, taking a stake in the 4 Tcf-plus Loran field as the country looks to establish a more direct path for its gas into the global LNG trade.
XRG, ADNOC’s international energy investment company, is entering Venezuela through an interest in the offshore Loran gas license, expanding its Latin American gas portfolio alongside bp and UCC.
Venezuela exported 1.16 million barrels of crude oil daily last month, a slight decline from June’s 1.2 million barrels daily, on lower withdrawals from storage, Reuters has reported, noting that exports to the United States during that month increased.
With Venezuela introducing sweeping reforms to its hydrocarbons sector and renewed international interest gathering pace, the Venezuela Energy Week London Industry Showcase will bring together policymakers, investors and industry leaders on July 30 to examine how the country’s evolving investment landscape is reshaping opportunities across the oil and gas value chain.
The African Energy Chamber (AEC) is calling on international operators, investors and technology providers to expand their presence in Venezuela as the country advances reforms aimed at reopening its oil and gas sector and attracting new upstream investment. The organization said Venezuela’s regulatory changes, including reduced fiscal burdens, expanded production-sharing mechanisms, stronger arbitration protections and increased operational […]
Venezuela is attracting renewed interest from global oil majors after sweeping reforms opened its energy sector, but rebuilding its corroded infrastructure will require more than $100 billion and at least a decade, OilPrice.com reported.
Venezuela signed five agreements with Shell on Thursday to advance oil and gas projects, including the first phase of development of the mothballed Loran offshore gasfield.