Venezuela Suffers From Rig Shortages

Petróleos de Venezuela (PdVSA), the state-owned energy company, is struggling to attract oil rigs to the country following the imposition of social spending clauses in contracts, according to a report in Rigzone. The news comes as the state's investment profile is changing, with Western international oil companies (IOCs) increasingly squeezed, as the government builds ties with other national oil companies (NOCs).

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