Oil production

Why Venezuela’s ‘very dense, very sloppy’ increase in oil production could harm the environment

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Why Venezuela’s ‘very dense, very sloppy’ increase in oil production could harm the environment

BOGOTA, Colombia (AP) — Environmental experts warn that U.S. efforts to modernize and boost Venezuela’s vast oil reserves could worsen decades of ecological damage and increase pollution from global warming in a country already struggling with the legacy of a declining oil industry. The warnings come as Washington has stepped up pressure on Venezuela following … Read more

Trump pushes for $100 billion oil investment in Venezuela, while Exxon and others say it’s currently “uninvestable” without major reforms

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Trump pushes for 0 billion oil investment in Venezuela, while Exxon and others say it’s currently “uninvestable” without major reforms

President Donald Trump has said that US oil companies, as well as some European players, will spend at least $100 billion in Venezuela to “rebuild very quickly. [its] dilapidated oil industry” and creating great wealth during a meeting with top oil executives on January 9 at the White House. But the CEOs of ExxonMobil, ConocoPhillips … Read more