Venezuela

Venezuela has awarded two out of three of the licences on offer in the Carabobo heavy oil licensing round to two consortia. A Repsol YPF-led consortium has been granted rights to... 2010-02-11

French major Total announced on February 9 that it will invest US$70mn to drill a natural gas exploration well at its Incahuasi Block in southern Bolivia.

The long-awaited Carabobo heavy oil licensing round in eastern Venezuela has attracted bids from two well-heeled consortia, raising the country's socialist government's hope of finally... 2010-01-29

Italy's Eni and Venezuela's state-owned Petróleo de Venezuela (PdVSA) have signed three strategic agreements: a contract for the development of the Junín 5 block in the... 2010-01-27

The finalisation of a deal that would see Venezuela's state-run Petróleos de Venezuela (PdVSA) acquire a 49% stake in the 34,000 barrel per day (b/d) Haina refinery in the Dominican... 2010-01-25

A report by the US Geological Survey (USGS) has claimed that Venezuela's Orinoco oil belt could hold a mean volume of 513bn barrels (bbl) of technically recoverable oil.

Following the disappointing news that Venezuela's offshore Mariscal Sucre gas project failed to attract a single bid, it has been announced that the country's Carabobo heavy oil licensing... 2010-01-20

International oil companies (IOCs) interested in developing the Mariscal Sucre gas project offshore Venezuela were due to submit their offers on January 15. The much-delayed Mariscal... 2010-01-18

The managing director for Chevron in Latin America, Wes Lohec, has said he believes that the amended terms for the Carabobo ultra-heavy oil auction, which were released by the Venezuelan... 2009-12-04

The Venezuelan government delivered the final terms for the long-awaited Carabobo ultra-heavy oil auction on December 1. While the terms include several regulatory sweeteners intended... 2009-12-02