Energy companies heading to Venezuela are being told to bring their own power plants to run their oil and natural gas operations and shield them from frequent blackouts on the nation’s ill-maintained electricity grid.
Oil rigs in Cabimas, south of Lake Maracaibo, Zulia State, Venezuela, in January. Photographer: Maryorin Mendez/AFP/Getty Images
The Trump administration amended its Venezuela licenses to loosen US-related legal provisions as it seeks to facilitate investment in the country’s oil and other natural resources.
A mural depicting an oil pumpjack on a Venezuelan flag in Caracas. Photographer: Pedro Mattey/AFP/Getty Images
In a reversal of fortune, oil companies in Colombia, where outgoing president Gustavo Petro has all but barred exploration for the last four years, are scoping out Venezuela.
A rusted oil pumpjack on the shoreline of Lake Maracaibo in Cabimas, Venezuela.
Venezuela’s National Assembly debated a reform that would open the country’s electricity sector to private investment, allowing companies to generate, distribute and sell power under government concessions after more than 15 years of state control.
Power lines run through transmission towers at the Caujarito electrical substation in Maracaibo, Zulia state, Venezuela.
Argentina’s Impsa SA is in talks with the Venezuelan government to restart manufacturing and repairs on turbines for the Andean nation’s sprawling Guri dam complex, according to the company’s top executive.
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