Venezuela external new energy group

Will the Bahamas agreement reopen Venezuela's energy reserves to international oil companies?

The Bahamas Agreement, named after the Caribbean island where it was negotiated, was the latest step towards reopening Venezuela’s prodigious energy reserves to international oil companies (IOCs). As of December 2023, oil flows from Venezuela were up 70% from their average level in 2022.

Will Chevron improve Venezuela's oil output in 2023?

At stake is the strong improvement in Venezuelan oil output over the course of 2023, led by Chevron — which resumed operations in Venezuela in late-2022 under its joint-venture (JV) agreement with state oil monopolyPetroleos de Venezuela (PDVSA).

When did LNG energy group acquire Lewis energy Colombia?

On 15 Aug. (the “ Closing Date ”), LNG Energy Group completed the acquisition of Lewis Energy Colombia, Inc. and the financial and operational results are measured from the Closing Date to 31 Dec. “With the acquisition of Lewis Energy Colombia, in August of 2023, LNG Energy Group established itself as producer and operator in Colombia.

How much oil is coming from Venezuela in 2023?

As of December 2023, oil flows from Venezuela were up 70% from their average level in 2022. US oil major Chevron now plans to add a further 65,000 b/d in output from the South American nation by year’s end, up from 135,000 b/d at present. Other IOCs have looked to follow suit, specifically replicating the Chevron model of operations in Venezuela.