bp and the Government of the Bolivarian Republic of Venezuela have signed agreements to advance offshore gas development, including the award of an exploration and production licence for Phase 2 of the Loran field in the Plataforma Deltana area.
Venezuela signed oil-related contracts with two US companies as the government of the South American country seeks to attract investment and boost crude production, a report said.
bp and Venezuela have signed agreements to advance offshore gas development, including an exploration and production licence for Phase 2 of the Loran field in the Plataforma Deltana area, which holds an estimated 4 trillion cubic feet of recoverable gas resources.
XRG, the international energy investment company of Abu Dhabi National Oil Company (Adnoc), has entered Venezuela through the award of the offshore Loran licence and the transfer of an interest from PDVSA Gas, expanding its gas and LNG footprint in Latin America.
Venezuela will host its largest international energy investment summit from October 26–29 in Caracas, bringing together US, Venezuelan and international oil companies, investors, financiers and technical service providers to advance near-term investment opportunities across the country’s reopening energy sector.
Rescue teams continued to search through the rubble of collapsed buildings across Venezuela on Thursday after two powerful earthquakes struck near the capital, Caracas, leaving at least 235 people dead and thousands injured.
High casualties are feared after two powerful earthquakes struck Venezuela's northern coast within less than a minute on Wednesday, collapsing buildings, damaging infrastructure and prompting the government to declare a state of emergency.
Venezuela’s government and General Electric have signed a memorandum of understanding to modernise the national power grid, officials said. The plan targets 1 GW of added capacity within 24 months and more than 5 GW over four years, as authorities move to urgently formalise the agreement.
SLB has signed a long-term framework agreement with Petróleos de Venezuela (PDVSA) to modernise the oil and gas sector, covering exploration, production, digital enablement, and workforce training, strengthening cooperation in field development and operational efficiency.
Qatar Airways has affirmed its expansion in the Americas with the launch of new flight operations to Caracas, Venezuela, and Bogotá, Colombia, commencing from July 22, 2026.
