US EditionUS Seeks Quick Repairs to Lift Venezuela Oil Output, Bloomberg News Reports
U.S. plans to deploy Chevron and major contractors for rapid repairs aiming to boost Venezuela’s oil output by several hundred thousand barrels within months, officials said.
- On Jan 24, the United States discussed plans with Chevron and oilfield service providers to quickly raise Venezuela's crude production, aiming to bring new output online within months.
- The plan is framed by administration officials as a way to swiftly increase crude flows after the U.S. capture of Nicolás Maduro and to generate cash to help rebuild Venezuela, while helping lower prices and expand U.S. flexibility versus Iran.
- Deploying contractors such as SLB Ltd., Halliburton Co. and Baker Hughes Co. would repair damaged equipment, while Chevron initially uses existing assets producing about 240,000 barrels per day with a 50% increase target.
- With limited investment, Venezuela could raise output by several hundred thousand barrels over the short term, creating a $10 billion market in drilling and completion spending for service providers.
- Years of underinvestment have left Venezuela's oil infrastructure neglected, including Lake Maracaibo and remote oil fields, while environmental liabilities, political risks, and worker safety persist as U.S. Treasury Department officials review license applications and companies seek guarantees.
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US seeks to lift Venezuela oil output
The US is in talks with Chevron, other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela's crude production, Bloomberg News reported on Saturday. Officials have discussed deploying SLB, Halliburton and Baker Hughes to repair and replace outdated equipment, the report said. With limited investment, Venezuela could boost production by several hundred thousand barrels, the report said, adding that modern …
US Pushes for Quickest Fixes to Boost Venezuela Oil Output
The US is in talks with Chevron Corp., other crude producers and the world’s biggest oilfield service providers about a plan to quickly revive output in Venezuela at a fraction of the estimated $100 billion cost for a complete rebuilding.
US seeks quick repairs to lift Venezuela oil output, Bloomberg News reports
The United States is in talks with Chevron , other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela's crude production, Bloomberg News reported on Saturday, citing senior administration officials.
US negotiating with Chevron, other oil firms for fast Venezuelan oil output: Report
According to the report, American officials are considering the deployment of SLB, Halliburton, and Baker Hughes to overhaul antiquated infrastructure and modernize long-standing drilling operations
U.S. Accelerates Plans to Boost Venezuela's Oil Output
U.S. Accelerates Plans to Boost Venezuela's Oil Output The United States is engaging in talks with major industry players like Chevron and oilfield service providers to expedite an increase in Venezuela's crude oil production, Bloomberg News reported on Saturday. Senior administration officials stated that these discussions highlight efforts to stimulate Venezuela's economically vital oil industry.Specifically, there are plans to deploy prominen…
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