Oil gear reaches Venezuela after 15 years
New oil equipment has been delivered to Venezuela for the first time in over 15 years, in a step aimed at rehabilitating the country's oil industry and supporting increased production. The equipment includes drilling rigs and 11 well-rehabilitation platforms, enhancing the country's ability to improve its oil investment. This occurs amid a drastic decline in the number of platforms—from over a hundred twenty years ago to just two currently—due to corruption and U.S. sanctions. This development comes as part of an agreement between the United States and Caracas that grants Washington a 20% share of Venezuelan oil production, aiming to support the national economy and achieve production targets.
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