24 Hrs
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المشهد العربي
Venezuelan Oil Projects Lack Global Support
The Venezuelan oil industry has faced significant challenges due to the lack of foreign guarantees, despite international drilling companies signing investments in the country and oil production rising to 3 million barrels per day, a level not seen in around 15 years. However, financial stability and sustainable yield services remain at risk because of a long history of nationalizations and political turmoil, raising doubts about the companies' ability to achieve profitable returns in the Venezuelan market.
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