French oil company Maurel & Prom says Venezuela teams are fully mobilized
The teams in Venezuela are completely mobilized and ready for the next phases of development, said the CEO of oil company Maurel & Prom on Thursday, after the United States added the French oil producer to a list of companies authorized to expand operations in the country. Reuters M&P's exports from [...]
TL;DR
- Maurel & Prom (M&P) is ready for development phases in Venezuela after being added to a US-authorized list.
- The company's CEO stated that teams are fully mobilized and operations can proceed with confidence under the new regulatory framework (GL 50A).
- M&P suspended exports in the second quarter of last year but anticipates resuming them.
- The company had previously applied for renewed authorization and noted a significant increase in identified reserves in Venezuela.
- M&P's shares rose 6% on the Paris Stock Exchange following the announcement.