energy investment Archives - The Daily Journal

Venezuela’s power grid generates less than 40% of its installed capacity, expert says

October 21, 2026October 21, 2026Tatiana Da GamaLeave a Comment

Venezuela has an estimated installed capacity of 34 gigawatts (GW) but generates approximately 13 GW against demand of 16 GW. Underinvestment, infrastructure failures, and the loss of skilled personnel are hindering the country’s industrial recovery. The Daily Journal – Venezuela’s electricity system generates approximately 13 gigawatts (GW), less than 40% of its estimated installed capacity […]

Zulia’s oil production rises to 370,000 barrels per day

October 20, 2026October 20, 2026Tatiana Da GamaLeave a Comment

Delcy Rodríguez said oil output in the western state climbed from 70,000 barrels per day to its current level and announced plans to expand natural gas production and exports. The Daily Journal — Oil production in Zulia state has increased from 70,000 to 370,000 barrels per day, with output expected to reach 400,000 barrels per […]

KEO Energy takes over PetroUrdaneta operations

October 19, 2026October 19, 2026Tatiana Da GamaLeave a Comment

KEO Capital’s U.S. subsidiary will manage the joint venture’s technical operations in the Lake Maracaibo Basin. Julio A. López, Editor-in-Chief — KEO Energy, the U.S. subsidiary of KEO Capital specializing in oil and gas, is expanding its presence in Venezuela’s oil industry through an agreement with Petróleos de Venezuela (PDVSA) to manage PetroUrdaneta. This joint […]

NABEP opens registration for Venezuelan technical professionals and suppliers for Lake Maracaibo operations

October 17, 2026October 17, 2026Tatiana Da GamaLeave a Comment

The Daily Journal – North American Blue Energy Partners (NABEP) announced the opening of a registration process for Venezuelan professionals, technicians, and suppliers, aiming to incorporate them into its operations in western Venezuela. The company announced this during the 2026 Energy, Oil and Gas Conference (CEPEG 2026), held at the Tibisay Hotel on the shores […]

Venezuela increases oil production to 1.15 million barrels per day

October 13, 2026October 17, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Venezuela increased its oil production to 1.15 million barrels per day in September, according to the monthly report that the Organization of the Petroleum Exporting Countries (OPEC) released on Tuesday. OPEC data show steady growth over the past three months. Production rose from 1.125 million barrels per day in July to 1.133 […]

Maurel & Prom produces more than 8,300 barrels per day in Venezuela

October 13, 2026October 17, 2026Tatiana Da GamaLeave a Comment

The French oil company holds a stake in the Urdaneta Oeste field in Lake Maracaibo and continues its well rehabilitation program. Julio A. López, Editor-in-Chief.- French oil company Maurel & Prom (M&P) maintains its presence in Venezuela’s oil sector through its 40% stake in Petroregional del Lago. This joint venture operates the Urdaneta Oeste field […]

Cristina Tovar: Venezuela must review its tax burden to compete for oil investment

September 29, 2026September 29, 2026Tatiana Da GamaLeave a Comment

The Daily Journal. — Venezuela needs to review the tax burden on its hydrocarbon industry to compete for international investment, according to Cristina Tovar, executive president of the Venezuelan Hydrocarbons Association (AVHI), who noted that the sector once operated under a government take of as much as 93%. “We came from a flat 93% government […]

OFAC expands licensing framework for oil and electricity operations in Venezuela

September 29, 2026September 29, 2026Tatiana Da GamaLeave a Comment

The Daily Journal. — The United States updated on Monday the licensing framework governing certain commercial and investment activities related to Venezuela’s oil, gas, petrochemical, and electricity sectors through General Licenses 46E, 48D and 49B issued by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC). The new provisions replace previous versions of those […]

Halliburton signs agreements with Eneva and WESCA to evaluate new oil and gas projects in Venezuela

September 22, 2026September 22, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.— Halliburton signed memorandums of understanding with Brazil’s Eneva and WESCA to evaluate oil and gas development opportunities in Venezuela as international companies seek to position themselves in the country’s energy sector. The agreements cover asset evaluation, development planning, and subsurface analysis. However, the companies have not announced any investments, committed capital amounts, […]

Ali Moshiri denies Bloomberg report on deal to operate Venezuelan oil field

September 18, 2026September 18, 2026Tatiana Da GamaLeave a Comment

Julio A. López, Editor-in-Chief. Veteran oil executive Ali Moshiri said he has not signed any memorandum of understanding (MOU) with the Venezuelan government. “The information published by Bloomberg is incorrect,” Moshiri told this publication. The clarification comes just hours after Bloomberg published a report claiming that Moshiri’s team in Caracas had already signed a memorandum […]