BP Plc and Venezuela agree offshore natural gas exploration deal

11 articles · Updated · Bloomberg · Apr 29

The agreement follows the US capture of Nicolas Maduro and marks a memorandum of understanding between BP and Caracas, announced Wednesday.
Venezuela's state oil company, Petroleos de Venezuela SA, also confirmed the pact, which identifies potential areas for cooperation in gas and future exploration.
This deal signals renewed international engagement in Venezuela’s energy sector as the country seeks to revive its oil and gas industry after recent political changes.

With energy revenues in U.S.-managed accounts, how will Venezuela’s new government fund its recovery?

If a new law governs oil, what unknown rules control BP's massive offshore gas project in Venezuela?

As BP, Shell, and Eni return, is a new 'scramble for Venezuela' among energy giants beginning?

Why are energy giants prioritizing Venezuela's gas over its vast oil reserves for a quicker comeback?

Can new U.S. licenses truly protect BP from Venezuela’s history of asset seizure and political turmoil?

Is this gas deal a regional 'win-win' or mainly a lifeline for Trinidad's LNG industry?