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
Type: Reuters Best
Sectors: Commodities & Energy
Win Types: Exclusivity
Story Types: Exclusive / Scoop