Billionaire Texas oilman inks deal with Venezuela's state
Time:2024-05-21 16:24:13 Source:politicsViews(143)
MIAMI (AP) — A company started by a Texas billionaire oilman announced a deal Wednesday with Venezuela’s state-owned oil company to rehabilitate five aging oil fields, days after the Biden administration put a brake on sanctions relief over concerns about the fairness of the country’s upcoming presidential election.
LNG Energy Group is a publicly traded company listed in Canada that produces natural gas in Colombia. It was created last year as a result of a merger with a company owned by Rod Lewis, a legendary Texas wildcatter who Forbes Magazine once called the “only gringo allowed to drill in Mexico.”
As part of the deal announced Wednesday, LNG was awarded contracts by state-run PDVSA to take over production and develop two oil fields in eastern Venezuela that currently produce about 3,000 barrels of crude per day.
LNG said the deal was executed within the framework of sanctions relief announced by the U.S. government last year in support of an agreement between President Nicolas Maduro and his opponents to hold a competitive presidential election this year. Last week, the Biden administration reimposed sanctions as hopes for a democratic opening in Venezuela fade.
Previous:Socialite Jasmine Hartin enjoys beach snuggle with electrician hunk
Next:Liverpool confirms Arne Slot as Jurgen Klopp's replacement
You may also like
- A warrant for Netanyahu’s arrest was requested. But no decision was made about whether to issue it
- Xi in My Eyes
- Xi Says China to Work with Pakistan to Build CPEC into Exemplary Project of High
- Members of Chinese Olympic delegation arrive in Tokyo
- Company wins court ruling to continue development of Michigan factory serving EV industry
- International flight launched between Karachi, Islamabad, Beijing
- China's sees 11.81 mln inbound, outbound trips during Golden Week
- Xi Focus: Key Takeaways from Xi's Diplomacy at Chengdu FISU World University Games
- Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons