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U.S.-backed Venezuela oil revamp faces potential $100B-plus cost
The U.S.-led restructuring removed Russian and Chinese firms from prior concessions, setting off new dealmaking across oil and oil services.
OilPrice says the Trump Administration is promoting a new oil order in Venezuela as a way to revive the industry in the world’s largest crude resource holder.
The outlet reports that the U.S.-led restructuring of the sector kicked out Russian and Chinese companies from previously awarded concessions.
OilPrice adds that the changes have already triggered a wave of oil deals involving major oil companies and large oilfield service providers.
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