Venezuela’s energy sector is entering a period of significant commercial change, with a reworked hydrocarbons framework beginning to translate into new agreements with international energy companies. Venezuela is moving from regulatory reform toward implementation. In January 2026, the country enacted a reform of its Organic Hydrocarbons Law, introducing new contractual mechanisms for primary hydrocarbon activities […]
Halliburton has signed memorandums of understanding (MoUs) with Eneva and WESCA to pursue oil and gas development opportunities in Venezuela, expanding its involvement as companies evaluate new projects in the country.
Continental Resources has signed a memorandum of understanding (MOU) with Venezuela’s state-owned PDVSA to operate and develop the Ayacucho 2 block in the Orinoco Oil Belt, marking the U.S. independent’s entry into Venezuela. The 126,000-acre block in Anzoátegui state is estimated by Continental to contain approximately 30 billion barrels of oil resource in place. Continental […]
Venezuela is deploying officials to a Group of 20 summit of energy chiefs in Texas this week, underscoring the rapid rapprochement between Washington and Caracas. The Venezuelan authorities are attending the G20 energy ministerial that started Monday in Houston at the invitation of the Trump administration, according to a White House official who asked […]
Chevron Corp. is finalizing a deal that will significantly expand its operations in Venezuela by adding two giant oil fields in the Orinoco Belt, part of a push by U.S. President Donald Trump to ramp up production in the South American country. The Texas oil company has negotiated operating rights to the fields in the Carabobo […]
The US is close to reaching a deal with Venezuela to establish a stake in 17 oil fields, potentially worth 90 billion barrels of the country’s vast reserves, reported Axios on Thursday.
The U.S. is in talks with Venezuela to take a large stake in its oil fields, a dramatic move by the Trump administration to extend its influence on the post-Maduro government and the nation’s vast energy reserves. Negotiators from both countries are discussing the plan, according to people familiar with the matter who asked not […]
Trump administration officials are working on a deal to secure long-term access to a portion of Venezuela’s crude reserves, sources with knowledge of the negotiations said on Thursday, a move that could ultimately lower the cost of oil imports. The agreement, which could be signed and made public soon, is expected to operate in a […]
A contract that SLB (SLB.N), opens new tab and Venezuela’s state-run PDVSA signed last week has granted the U.S. oil services and technology company access to oilfield data from the country with the world’s largest crude reserves, three sources close to the negotiations said.The deal will allow SLB to organize and upgrade PDVSA’s vast but outdated databases […]
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.