oil investment Archives - The Daily Journal

Multinational oil companies step up hiring in Venezuela’s oil fields: Weatherford, Baker Hughes, Halliburton and SLB lead the return

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

The Daily Journal – Multinational oilfield services companies are taking their first steps toward deploying personnel, equipment, and machinery in Venezuela. Specifically, Weatherford International, Baker Hughes, Halliburton, and SLB are advertising dozens of job openings in the country on their websites. This development offers an early sign that a Washington-backed plan to rebuild Venezuela’s energy […]

Venezuela expects to attract $76 billion in oil investments over the next five years

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

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 […]

PDVSA aims to end 2026 with oil production of 1.3 million barrels per day

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

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) […]

NABEP deploys 11 new workover rigs and adds two drilling rigs in Venezuela

October 15, 2026October 17, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- North American Blue Energy Partners (NABEP) has begun deploying 11 new oil well maintenance rigs (workover rigs) in Venezuela, along with two 1,500-horsepower drilling rigs that arrived in the country on October 7, the company announced in a statement. According to NABEP, this marks the first time in more than 15 years […]

Venezuela negotiates 44 new oil agreements

October 9, 2026October 9, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.— Acting President Delcy Rodríguez announced Thursday that her government is negotiating 44 additional agreements in the oil sector, which would add to the 61 already signed by state-owned Petróleos de Venezuela (PDVSA), bringing the total to 105 agreements so far this year. “In addition to the 61 agreements that PDVSA has already […]

Pacific Coast Energy plans $3.5 billion investment to boost heavy crude production in Venezuela

October 9, 2026October 9, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.— U.S.-based Pacific Coast Energy Company (PCEC) plans to invest $3.5 billion over the life of its contracts with Petróleos de Venezuela (PDVSA) to reactivate and develop oil fields in the Delta and Cabimas blocks, the company said. PCEC, a California-based company specializing in heavy crude production, took over operations at the fields […]

Wright links U.S. presence in Venezuela’s oil business to lower risk for investors

October 2, 2026October 17, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- U.S. Energy Secretary Chris Wright said the U.S. government’s participation in oil projects in Venezuela could help reduce political risk for investors and provide a measure of stability in the event of future changes in government. Wright made the remarks during an interview with Charlotte Howard, U.S. editor of The Economist. His […]

The Angolan experience: Attracting oil investment requires clear rules and more efficient bureaucracy

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

The Daily Journal. — Improving regulatory efficiency and separating the functions of the state-owned oil company from those of the regulatory agency played a decisive role in expanding investment in Angola’s hydrocarbon sector, according to Geraldine Geraldo, Commercial and Strategy Director at Corcel PLC. During the panel “Attracting Upstream Investment in a Competitive World: Global […]

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 […]