Venezuelan President Reports Stable Growth in Oil Industry
Nicolas Maduro said that in the third quarter, oil and natural gas production in the republic increased by 12.99%, and also noted a “significant increase” in oil exports. Venezuela has achieved stabilization in the growth of the oil industry and an increase in hydrocarbon production. Venezuelan President Nicolas Maduro announced …
PDVSA and Gazprom Discuss Cooperation in Venezuela
Venezuelan PDVSA and Gazprom are discussing cooperation in new gas projects in the republic, the issue will be resolved in the coming weeks, Foreign Minister Ivan Gil Pinto said in an interview with RIA Novosti. “The Gazprom company has already been in Venezuela, already working on projects that were in …
Russia and Venezuela Want to Restore Daily Oil Production Levels
Russia and Venezuela want to restore the previous level of oil production per day, Foreign Minister of the Republic Ivan Gil Pinto said in an interview with RIA Novosti. “Joint oil production in Venezuela in recent years has reached 120-150 thousand barrels per day. Of course, the sanctions regime has …
Washington Allowed the Oil Service Company to Work with Caracas to Close Contracts
US authorities have allowed Halliburton, Schlumberger, Baker Hughes and Weatherford to carry out transactions in Venezuela until May 16, 2024 The US Treasury has extended until May 16, 2024 the licenses of four international oil service companies that must complete their work in Venezuela. This also applies to working with …
PDVSA and Maurel&Prom Signed an Agreement to Develop Oil and Gas Fields in Venezuela
The Venezuelan state oil company PDVSA and the French Maurel&Prom (beneficiary of the Indonesian Pertamina) signed an agreement aimed at increasing oil and natural gas production in the western region of Venezuela. This was stated by PDVSA General Director P. Tellechea. the companies have agreed to a contract that focuses …
Venezuela is Looking for Drillers
Caracas is actively working with oil service companies to increase oil production in Venezuela. After the easing of American sanctions, Venezuela began to revive its own oil production, starting with drilling new wells. International oilfield service companies with unused equipment in Venezuela include SLB, Evertson International and Nabors Industries. However, …
Oilfield Service Awaits the Opening of Venezuela
The world’s largest oil services company SLB plans to quickly return to the fields of Venezuela after the easing of US sanctions against the country’s energy industry, said the head of the company Olivier Le Peche. According to him, the company will try to mobilize resources and equipment to resume …
American Chevron is Ready to Drill New Wells in Venezuela
The American company wants to increase production in the Latin American country by another 65,000 bpd by the end of 2024 Currently, Chevron and Venezuela’s PDVSA together produce about 135,000 b/d. Washington’s permission to operate an American company in Venezuela is gradually raising the country’s oil production from its knees. …
Venezuela Cannot Service Its Oil Fields – no Funds
Due to problems in the preparation of extra-heavy Venezuelan oil for export, its volumes in August decreased by 38% compared to three-year figures for the same period. The state company PDVSA was unable to ensure the uninterrupted operation of facilities for the preparation of heavy oil produced in the Latin …
Oil Production in Venezuela Increased by 10.65 Percent in 2023
The average daily level of oil production in Venezuela increased from January to July 2023 from 732 to 810 thousand barrels per day – monthly statistics were published by the Minister of Oil and the head of the Venezuelan oil and gas PDVSA, Rafael Tellechea. “Oil production in Venezuela continues …