Overview
- Bloomberg reporting cited by Mint says U.S. officials are negotiating with Chevron and other producers and weighing the use of SLB, Halliburton, and Baker Hughes to revive fields and modernize infrastructure.
- SLB said it can rapidly scale activity in Venezuela if licensing, safety, and compliance conditions are met, and it noted it is currently the only international service provider operating there under Chevron’s license.
- Halliburton said it aims to re-enter once commercial and legal terms are resolved, has posted Venezuelan job openings, and says it can move equipment quickly to restart work.
- President Donald Trump said U.S. oil companies will soon begin drilling and claimed the U.S. is processing seized Venezuelan crude in domestic refineries after intercepting seven vessels and taking 50 million barrels.
- Chevron remains the only U.S. major producing in the country at about 240,000 barrels per day through PDVSA joint ventures, and an analyst at Stifel said SLB and Halliburton are well positioned to benefit from new investment.