🇻🇪Asdrúbal Oliveros
Two relevant pieces of news for Venezuela this week: the memorandum with ExxonMobil, which opens the possibility of new investments to increase oil production, and the progress of the electricity reform, which seeks to expand private participation and facilitate investment in the sector.
Both initiatives point to two strategic and interdependent sectors: oil growth requires a reliable electricity supply, while the recovery of the electricity system is essential to raise the productivity of the economy as a whole.
These are positive signs, but their impact will depend on how these advances are translated into projects, financing, and sustainable improvements in the operation of both sectors.
We’ll see...
🇮🇱Israeli energy company NewMed negotiates purchase of 60% of a Venezuelan oil company
Backed by a historic prior gas export agreement valued at 35 billion dollars and reported by Forbes Middle East, the company shows the financial muscle needed to carry out this strategic acquisition and enter the Venezuelan oil industry in full.
This operation represents the company's first concrete step to expand into South America and diversify its hydrocarbons portfolio beyond its successful management of the Leviathan offshore gas megafield in the eastern Mediterranean.
#Israel #venezuela #EEUU #Exxon #ExxonMobilVenezuela $CL $BZ $XOM
Two relevant pieces of news for Venezuela this week: the memorandum with ExxonMobil, which opens the possibility of new investments to increase oil production, and the progress of the electricity reform, which seeks to expand private participation and facilitate investment in the sector.
Both initiatives point to two strategic and interdependent sectors: oil growth requires a reliable electricity supply, while the recovery of the electricity system is essential to raise the productivity of the economy as a whole.
These are positive signs, but their impact will depend on how these advances are translated into projects, financing, and sustainable improvements in the operation of both sectors.
We’ll see...
🇮🇱Israeli energy company NewMed negotiates purchase of 60% of a Venezuelan oil company
Backed by a historic prior gas export agreement valued at 35 billion dollars and reported by Forbes Middle East, the company shows the financial muscle needed to carry out this strategic acquisition and enter the Venezuelan oil industry in full.
This operation represents the company's first concrete step to expand into South America and diversify its hydrocarbons portfolio beyond its successful management of the Leviathan offshore gas megafield in the eastern Mediterranean.
#Israel #venezuela #EEUU #Exxon #ExxonMobilVenezuela $CL $BZ $XOM
