Repsol regains control of Venezuelan oil assets after new deal
Spanish energy company Repsol has reached an agreement with the Venezuelan government and state oil company PDVSA to regain operational control of its oil assets in Venezuela.The deal includes a payment mechanism through oil shipments and aims to significantly expand production, with plans to triple output within three years.Repsol's Executive Managing Director of Exploration and Production, Francisco Gea, confirmed the company's commitment to Venezuela, where it has operated continuously since 1993.The agreement marks a reversal of previous operational constraints caused by US sanctions on Venezuela's energy sector.The new framework is expected to provide Repsol with greater financial security and help... [Continue Reading]
360LiveNews | 16 Apr 2026 13:32 LONDON
