TotalEnergies Close to Finalizing New Energy Sector Contracts with PDVSA, According to Bloomberg
French company TotalEnergies announced that it is "close to signing" hydrocarbon commercial contracts with the state-owned Petróleos de Venezuela S.A. (PDVSA). Patrick Pouyanne, CEO of TotalEnergies, stated at a company results conference that they are "close to signing some commercial contracts with Venezuela, with PDVSA."
TL;DR
- TotalEnergies is nearing the signing of commercial hydrocarbon contracts with PDVSA.
- These contracts could grant TotalEnergies direct access to Venezuelan oil.
- The plan involves shipping Venezuelan crude to TotalEnergies' Port Arthur refinery in Texas.
- BP has signed a memorandum of understanding with Venezuela for offshore gas exploration.
- BP has also opened an office in Venezuela, signifying its return to the country.