BP Returns to Venezuela with Oil Cargo and Gas Project

M&A · PartnershipCommodity

โดย Bloomberg·

Summary · why it matters

BP has become the latest foreign company to enter the Venezuelan oil trade, loading 400,000 barrels of heavy fuel oil from state-owned PDVSA aboard the tanker Monte Lema. The move places BP among a select group including Trafigura and Vitol with direct access to Venezuelan oil. BP also recently partnered with two other firms to develop the second phase of the Loran gasfield, one of the first large-scale foreign investments in Venezuela since Nicolás Maduro's ouster earlier this year. The consortium has secured the official exploration and production license, though the project remains in the pre-FID phase. Venezuela holds the world's largest proven crude oil reserves, about 17% of the global total, but nationalized major heavy oil projects in 2007.

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