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 […]
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Delcy Rodríguez linked the investments to recently signed agreements and said the bilateral deal with the United States includes drilling operations involving 250 rigs across 17 oil fields. The Daily Journal — Venezuela expects to attract approximately $76 billion in investments in its oil sector over the next five years through a series of recently […]
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The Daily Journal – Petróleos de Venezuela (PDVSA) has set a target of ending 2026 with national oil production of 1.3 million barrels per day (bpd), up from its currently reported 1.24 million bpd, according to an announcement by the state-owned company’s president, Héctor Obregón Pérez, during the Energy, Oil and Gas Conference (CEPEG 2026) […]
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The Daily Journal.- Spanish energy company Repsol continues to produce around 580 million cubic feet of natural gas per day from the Cardón IV field, which it operates alongside Italy’s Eni in Venezuela, a company source said Wednesday during the Venezuela International Oil and Gas Summit. Production has remained unchanged since March, when the government […]
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After securing the license for the Loran project, Upstream head Erik Keskula said the company is looking for opportunities “across all sectors” The Daily Journal.- Qatar-based producer UCC Oil and Gas Holding confirmed that it is holding talks over a potential entry into new oil and gas fields in Venezuela as it seeks to expand […]
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They warned that the power system represents the biggest obstacle, with a deficit of more than 1,500 MW and prolonged blackouts The Daily Journal.- Executives from major international oil companies warned this week that Venezuela’s power supply represents the biggest obstacle to their projects, citing a deficit of more than 1,500 megawatts (MW) and blackouts […]
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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 […]
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The Daily Journal. — The international oil industry is once again turning its attention to Venezuela, with an agenda focused on new investment opportunities, particularly in the natural gas sector, as environmental commitments and the cleanup of longstanding environmental liabilities emerge as major challenges for the energy industry. Some 650 delegates from 30 countries are […]
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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 […]
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The Daily Journal. — The Colombian government is evaluating several alternatives to offset the natural gas supply deficit in its domestic market amid the effects of the El Niño climate phenomenon, including importing gas from Venezuela, Minister of Mines and Energy María Nohemí Arboleda said. Speaking at a forum organized by the National Association of […]
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