Venezuela Appoints New Gas Vice President at State Company PDVSA
(Reuters) — Venezuela has appointed a new vice president at PDVSA who will lead the state company's gas operations, a key move as the South American country negotiates licenses with foreign companies to develop its mostly untapped natural gas reserves.
Luis Gonzalez Nuñez was appointed PDVSA's new gas vice president, according to a decree published in official gazette, seen by Reuters on Wednesday. The position was previously held by Juan Santana.
Decades of insufficient investment, contract changes, mismanagement at PDVSA and — more recently — U.S. sanctions have limited the development of Venezuela's gas sector, which could become a large source of revenue for the cash-strapped nation.
Oil Minister Pedro Tellechea, who is also PDVSA's CEO, last month said talks with companies interested in gas projects were progressing, but some terms needed to be finalized so licenses could be issued later this year.
In a separate decree, the government also created a data bank that will handle information about oil and gas activities and reserves and will be able to sell seismic data packs to interested parties.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Boardwalk Approves 110-Mile, 1.16 Bcf/d Mississippi Kosci Junction Pipeline Project
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says
- Polish Pipeline Operator Offers Firm Capacity to Transport Gas to Ukraine in 2025
Comments