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02.09.26 - 18:30
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Energy Secretary Wright Says Venezuela Could More Than Double Oil Production (ZeroHedge)
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Energy Secretary Wright Says Venezuela Could More Than Double Oil Production
Venezuela's crude oil production rate could double in the next few years thanks to new deals set to be signed with U.S. and other foreign energy companies, U.S. Energy Secretary Chris Wright has said.
“The investment in these deals will massively grow available oil production, which will give downward pressure on oil prices, but the biggest kink right now in gasoline and diesel prices is refining capacity,” Wright said during a one-day visit to Caracas, as quoted by OilPrice.
Venezuela's peak oil production rate was about 3 million barrels daily, but that was in the late 1990s. Since then, amid U.S. sanctions and underinvestment, production has dropped to 1.25 million barrels daily this year. Exports are running slightly above 1 million barrels daily, with the biggest portion going to U.S. refiners along the Gulf Coast.
Last week, news broke that the U.S. federal government was negotiating a direct ownership ...
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02.09.26 - 16:54
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Italy′s Eni Plans Major Increase in Venezuela Oil Production (Bloomberg)
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Italian energy producer Eni SpA aims to eventually boost production from its Venezuelan operations to more than 1 million barrels a day, a figure that includes volumes from state-owned Petróleos de Venezuela SA, according to people familiar with the matter, a potentially significant boost to US President Donald Trump's effort to revive the country's battered crude industry....
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02.09.26 - 16:42
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Chevron bestätigt Ausbau in Venezuela (Cash)
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US-Ölkonzern - Wenige Tage nach der Ankündigung von US-Präsident Donald Trump über einen Öldeal in Venezuela hat der US-Ölriese Chevron eine Ausweitung seiner Geschäfte in dem Land bestätigt....
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02.09.26 - 14:01
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Chevron announces deal to expand its oil production in Venezuela (The Hill)
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Chevron announced early Wednesday that it has reached an agreement to expand its oil production in Venezuela. Chevron said that it has been assigned additional acreage in the Orinoco Belt, where it has an established position. Joint venture plans include investing more than $7 billion over the next five years and increasing production to approximately......
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