The Daily Journal – A recent investigation by U.S. news outlet ProPublica has revealed critical details about a new energy agreement in the region. The oil deal promoted by U.S. President Donald Trump with Venezuela protects the interests of private businesspeople. Still, it does not explicitly require the payment of $209 billion in taxes and […]
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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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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 […]
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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.- 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 […]
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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 […]
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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 […]
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Exports fell to 1.08 million barrels per day in September The Daily Journal.- Venezuela’s oil exports fell nearly 9% in September to 1.08 million barrels per day, down from 1.19 million barrels per day the previous month. According to Reuters, rising maritime freight costs and traders’ demands for steeper discounts weighed on the country’s shipments. […]
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Series “Oil Under Control: The Nation, the State, the Industry and Oil Revenue in Venezuela” Grupo La Petrólia As efforts continue to institutionalize the country’s surrender of sovereignty over its main natural resource and greatest source of wealth, it is worth remembering that this crisis has deep roots. In this six-part series, we will analyze […]
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