Overview
- About a dozen oil companies are expected at the White House on Friday to discuss reactivating Venezuela’s hydrocarbon production, according to Bloomberg.
- Repsol and India’s Reliance are the only non-U.S. firms reported among the invitees, alongside Chevron, Exxon Mobil and ConocoPhillips.
- Bloomberg reports Repsol intends to file its license application in the coming days to resume exports of Venezuelan crude.
- The administration’s initiative aims to channel future investments through selected majors to restart output in the country.
- Repsol is one of the few foreign operators still active in Venezuela, with gas-heavy production at the Perla field with ENI and about 39,000 barrels per day of oil, while carrying roughly €1 billion in unpaid receivables and €330 million in asset exposure.