The Trump administration’s deal with a private oil company to increase oil production in the South American country could take many years to come to fruition.
Category: Petroleos de Venezuela SA
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Trump’s Venezuelan Oil Deal Relies on a Powerful and Divisive Partner
The New York Times – Business:The administration will work with a private Venezuelan oil company that has close ties to the country’s government.
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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.