“Increase Production Or Leave The Country” Warns Venezuela's Ministry Of Oil To Foreign Oil Companies

“Increase Production Or Leave The Country” Warns Venezuela’s Ministry Of Oil To Foreign Oil Companies

Written by Roberta Souza

Published on 21/01/2021 at 16:03

Produção de petróleo da Venezuela

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The Purpose of Venezuela’s Announcement Is to Ensure an Increase in Oil Production

Venezuela, a country with the largest oil reserves in the world, warned the foreign oil companies Chevron and Repsol to help increase production, in order to prevent them from stopping exploration in the country. Petróleos de Venezuela and the Ministry of Oil of Caracas sent a letter last month to all 19 joint venture partners whose contracts will expire in 2026, to inquire about their exploration intentions.

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According to the letter, all oil companies had until January 15 to respond, and the companies could still request a contract renewal with the country.

Venezuela will seek new partners if the current ones do not respond and help to reactivate the collapsed oil industry, after years of mismanagement and sanctions from the United States.

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“Increase Production Or Leave The Country” Warns Venezuela’s Ministry Of Oil To Foreign Oil Companies

The Purpose of Venezuela’s Announcement Is to Ensure an Increase in Oil Production

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“Increase Production Or Leave The Country” Warns Venezuela’s Ministry Of Oil To Foreign Oil Companies

The Purpose of Venezuela’s Announcement Is to Ensure an Increase in Oil Production

See Also Other News of the Day:

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

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Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

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