Venezuela Signs Loran Gas Deal

Venezuelan officials signed an agreement to develop the Loreano offshore gas field, in collaboration with the British energy companies BP and XR Energy, the investment firm owned by the UAE's Adnoc, as well as the oil and gas unit of the Qatari U.C.C Group. The agreement aims to boost gas production in the field, contributing to the support of the nation's energy sources and reflecting Venezuela’s efforts to develop its oil sector following previous declines in exports and production.

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