Venezuela Targets 105 Oil Deals in 2027
Venezuela aims to sign 105 oil contracts by the end of 2026 to increase production to 1.5 million barrels per day by 2027, with 61 contracts signed so far and 44 pending. The government seeks to strengthen the energy sector, develop new fields, and improve refining capacities, as it considers restarting the Cardón refinery after it was affected by a fire. The goal is to support economic growth and meet domestic fuel demand.
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