BP, Shell, and ConocoPhillips are actively involved in the revival of Venezuela's oil industry, including BP's investment in gas fields and corporate competition for licenses.
4 reports, 2 independent
Updated Aug 18
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What happened
BP, Shell, and ConocoPhillips are actively involved in the revival of Venezuela's oil industry, including BP's investment in gas fields and corporate competition for licenses.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- CVX, represented by CEO Mike Wirth, plans to double production to 600,000 bpd as part of the oil industry revival in Venezuela.Sub-event
- U.S. companies, including ConocoPhillips, are reportedly circling Venezuela's oil fields.Sub-event
BP, Shell, and ConocoPhillips are actively involved in the revival of Venezuela's oil industry.1 source
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Part of
Oil majors, including ExxonMobil and ConocoPhillips, are seeking to restart production and secure durable contracts for Venezuela's vast oil reserves.Also in this story
- A conference is underway in Caracas, the capital city, involving NJ Ayuk and the national oil company PDVSA.
- Oil companies are negotiating with Venezuela's acting government, urging $100 billion in investment under a U.S. Treasury debt recovery program.
- Venezuela is sending 10 million barrels of oil to the US, pending Trump's final approval for a deal.
The entities involved
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Venezuela
Country in Latin America
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BP
British multinational oil and gas company
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ConocoPhillips
American oil and gas company
Related events
- A new company is seeking oil reserves and market influence in Venezuela, challenging established market leaders.
- BP is undergoing significant corporate shifts, including leadership changes, market rivalries, and potential acquisition interest from companies like Shell.
- Trump announced a deal on Venezuelan oil reserves, confirmed by Delcy Rodriguez, involving major refiners like Chevron and ExxonMobil.
- Oil flows to U.S. reserves via government demand, alongside plans to invest $7 billion in Venezuelan oil production.
- Marco Rubio discusses oil development talks involving Venezuela and PDVSA, which operates in a country with large oil reserves.