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14.07.26 - 22:51
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Venezuela′s Oil Revival Faces A Critical Services Bottleneck (ZeroHedge)
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Venezuela's Oil Revival Faces A Critical Services Bottleneck
Authored by Rystad Energy via OilPrice.com,
Venezuela could increase crude production by about 194,000 bpd by late 2028, with most growth coming from existing producing fields rather than new discoveries.
International oil companies led by Chevron are expected to deliver nearly two-thirds of the forecast production increase through brownfield investments.
The biggest obstacles are operational, including drilling rigs, diluent supplies, infrastructure upgrades, and a competitive fiscal regime capable of attracting long-term investment.
Venezuela's upstream industry has entered a new phase. Following sweeping hydrocarbon reforms and broader geopolitical developments in early 2026, the conversation has shifted from whether the country can reopen its oil sector to whether it can successfully execute a meaningful production recovery. The country's resource potential has never been in doubt. The greater challenge now lies i...
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