Repsol aims to triple its oil production in Venezuela in the next three years
The Spanish energy company Repsol will take direct control of oil operations in Venezuela 'in the coming days', announced the company's CEO, Josu Jon Imaz, this Monday, which will allow them to meet the commitment to triple their gross production in the Latin American country in the next three years. Imaz, who [...]
TL;DR
- Repsol will take direct control of its Venezuelan oil operations in the coming days.
- The company aims to triple its gross oil production in Venezuela within three years.
- Repsol has secured all necessary licenses and support from the U.S. government to operate in Venezuela.
- A recent agreement will increase natural gas production in Venezuela, supplying 50% of the country's electricity generation.
- Repsol is also launching the Pikka oil project in Alaska, expected to significantly impact the region's oil history.
- The company has a long-standing presence and investments in oil, gas, and renewables in the U.S.