The Daily Journal.— The Donald Trump administration expects new investments and energy agreements between the United States and Venezuela to double Venezuelan oil production in less than five years, according to a U.S. Department of Energy fact sheet released Friday by the U.S. Embassy in Caracas. The document presents agreements signed this week with companies […]
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CARACAS — GE Vernova expects to bring one gigawatt of new, reliable power generation capacity online in Venezuela within the first 24 months of implementing its agreement to modernize and expand the country’s energy infrastructure, according to a fact sheet released Friday by the U.S. Embassy. The projection is part of a broader plan to […]
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The Daily Journal.— General Electric (GE) Vernova plans to create more than 1,000 local jobs as part of a strategic partnership signed Wednesday to restore and stabilize electrical infrastructure supporting Venezuela’s oil industry, a senior executive from the U.S. company announced during a ceremony at Miraflores Palace. GE Vernova Venezuela President Carlos Mousadi and Petróleos […]
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The Daily Journal. — Venezuelan company Primavera Infinita signed a Production Participation Contract with Petróleos de Venezuela (PDVSA) on Wednesday to develop the Budare-Elotes block, located between Anzoátegui and Monagas states, as part of a new round of agreements aimed at adding new areas to the country’s oil production portfolio. The parties signed the agreement […]
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The Daily Journal.— U.S. oil exploration company Aspect Holdings will develop several fields in eastern Venezuela over the coming years as part of a new exploration agreement with Petróleos de Venezuela (PDVSA), company President Alex Cranberg announced Wednesday. The parties signed the agreement “for a joint technical and economic feasibility study for the development of […]
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The Daily Journal.- Oil company GeoPark announced its strategic entry into Venezuela’s oil industry through the acquisition and development of the Bare block, located in the Orinoco Oil Belt, in a transaction that will make the Gilinski Group the company’s controlling shareholder. According to Bloomberg, the transaction includes a 25-year Production Participation Contract (CPP) with […]
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The Daily Journal.— The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued three new general licenses on Wednesday that expand authorized operations in Venezuela’s coal, gold and other mineral sectors, opening the door to trade, technology supplies and negotiations for future investments. The measures, identified as General Licenses 51D, 54C and […]
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The Daily Journal.— During U.S. Energy Secretary Chris Wright’s visit to Caracas, the Venezuelan government formalized new agreements for the hydrocarbons sector on Wednesday at a meeting with a Washington delegation at Miraflores Palace. The agreements include expanded participation by U.S.-based Chevron and Italy’s Eni in joint ventures operating in the Orinoco Oil Belt. Earlier […]
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The Daily Journal – The official exchange rate broke the 800-bolivar-per-dollar barrier on Wednesday, September 2, reaching Bs. 801.18, according to the rate published by the Central Bank of Venezuela (BCV). The U.S. dollar rose by 2.86 bolivars (0.36%) in a single day after closing Tuesday, September 1, at 798.32 bolivars. The euro also climbed […]
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The Daily Journal – Coinbase co-founder Fred Ehrsam is negotiating to gain control of at least three oil fields in Venezuela, according to sources familiar with the talks. Alvorada Heavy Industries Ltda currently operates the fields — Boca, Guico and Guara, located in the Orinoco Belt — while U.S. authorities review the company’s contracts and […]
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