The South American country has natural gas that could be extracted and exported quickly, but U.S. sanctions, which are now being eased, have stymied development.
Category: Petroleos de Venezuela SA
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Venezuela’s Oil Industry: A Timeline of Key Events
The country’s oil industry has undergone major shifts and two waves of nationalization since its first well started pumping in 1914.
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Oil Firms Say Venezuela Owes Them Billions, Complicating Trump’s Plan
Companies like Exxon Mobil and ConocoPhillips say that Venezuela owes them billions of dollars for confiscating their assets two decades ago.
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Top Bidder for Citgo Is Elliott Management, Court Master Says
The sale, which requires a judge’s approval, would help compensate foreign companies owed billions of dollars by the government of Venezuela, which owns Citgo.