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
Keep exploring
Part of
US-backed privatization of Venezuela's oil industryAlso 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
- Companies including Petrobras, Cheniere, ConocoPhillips, Shell, and LNG Canada have announced new agreements regarding long-term LNG sales, venture deals, and capacity expansion.
- Houthis actions and Iran's geopolitical moves are elevating gas prices, prompting investors to rotate into safer, low-growth sectors.
Related events
- BP is undergoing significant corporate shifts, including leadership changes, market rivalries, and potential acquisition interest from companies like Shell.
- Venezuela's energy sector is opening, granting licenses to international firms like Shell and UCC for gas development in the Loran field.
- Jamnagar complex begins refining hard Venezuelan crude, following discussions between Trump, Rubio, and Mukesh Ambani.
- BP and ElbOil participated in an industry panel discussing the fuel market.
- Marco Rubio discusses oil development talks involving Venezuela and PDVSA, which operates in a country with large oil reserves.