financetom
Business
financetom
/
Business
/
Venezuela signs deal with Repsol, Eni for gas production
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Venezuela signs deal with Repsol, Eni for gas production
Mar 13, 2026 9:48 AM

March 13 (Reuters) - Venezuela has signed "strategic

agreements" on gas production with energy groups Repsol

of Spain and Italy's Eni, the government of the South

American country said on Thursday.

Speaking on state-run television, acting President Delcy

Rodriguez said the deals would allow for gas production at the

Cardon IV field, a 50-50 joint venture between Eni and Repsol.

She saidthey would also pave the way for the expansion for

exports.

"I am very pleased that this is being done hand in hand with

two European companies that stayed in Venezuela, that believed

in Venezuela and did not turn their backs on our people,"

Rodriguez said.

A spokesman for Eni said on Friday that the agreement laid

the groundwork for the group to restart exports of natural gas

and liquids from Venezuela, "after obtaining the necessary legal

and regulatory authorizations."

This would strengthen "Venezuela's position as a potential

regional exporter," the spokesman added.

Venezuela has accumulated more than $7 billion in debt

towards Eni and Repsol as previous U.S. sanctions blocked the

possibility for the two European groups to lift products from

the country and sell them abroad.

Venezuela's government said on Thursday it was committed to

seeking agreements with global investors in oil and gas.

After the United States captured President Nicolas Maduro in

January, it eased sanctions on Venezuela's energy sector,

issuing general licences that allow global energy companies to

operate oil and gas projects in the OPEC country.

Venezuela holds one of the largest oil reserves in the world

but has dilapidated energy infrastructure.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Why DoorDash Stock Is Down Thursday Afternoon
Why DoorDash Stock Is Down Thursday Afternoon
Mar 12, 2026
DoorDash Inc ( DASH ) shares are trading lower Thursday afternoon as investors react to fresh geopolitical turmoil in the Middle East, a development that matters more to the delivery company than it would to many pure software names. Here’s what investors need to know. DoorDash ( DASH ) stock is facing resistance. Why are DASH shares declining? U.S. Plans...
U.S. customs agency says tariff refunds system between 40% and 80% complete
U.S. customs agency says tariff refunds system between 40% and 80% complete
Mar 12, 2026
March 12 (Reuters) - The U.S. government's four-part system for refunding $166 billion in illegal tariff payments with interest is between 40% and 80% complete, according to a court filing on Thursday from a top customs official. Brandon Lord, an official with U.S. Customs and Border Protection, said the agency is developing a four-part system it calls CAPE that will accept...
Update: Petco Health & Wellness Shares Surge After Q4 Loss Narrows, Revenue Beat Estimates
Update: Petco Health & Wellness Shares Surge After Q4 Loss Narrows, Revenue Beat Estimates
Mar 12, 2026
03:09 PM EDT, 03/12/2026 (MT Newswires) -- (Updates to include the stock movement in the headline and the first paragraph.) Petco Health & Wellness (WOOF) shares surged nearly 37% in Thursday trading after the company reported a narrower fiscal Q4 loss and revenue that exceeded analysts' expectations. The company reported fiscal Q4 net loss late Wednesday of $0.01 per diluted...
Archer-Daniels-Midland Insider Sold Shares Worth $3,424,000, According to a Recent SEC Filing
Archer-Daniels-Midland Insider Sold Shares Worth $3,424,000, According to a Recent SEC Filing
Mar 12, 2026
02:43 PM EDT, 03/12/2026 (MT Newswires) -- Gregory A Morris, Senior Vice President, on March 10, 2026, sold 50,000 shares in Archer-Daniels-Midland ( ADM ) for $3,424,000. Following the Form 4 filing with the SEC, Morris has control over a total of 300,852 common shares of the company, with 300,122 shares held directly and 730 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/7084/000122520826003578/xslF345X05/doc4.xml...
Copyright 2023-2026 - www.financetom.com All Rights Reserved