Reuters reported exclusively that Venezuelan state oil company PDVSA is letting some joint venture partners take over the day-to-day operation of oilfields as its own capacity dwindles due to sanctions and a lack of cash and staff. Crude production by PDVSA and its joint ventures has fallen to about a third of its peak 20 years ago.
Reuters exclusively reports PDVSA cedes oilfield operations to foreign firms
03 January 2020, 12:00 am. 1 minute
Article Tags
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Americas
Win Types: Exclusivity
Story Types: Exclusive / Scoop
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