Venezuela considers allowing private firms to operate state oilfields
The Opec nation's crude output has plunged to the lowest level in decades
14 January 2021 - 22:00
Venezuelan officials have met in recent months with small domestic oilfield contractors to propose letting them operate fields owned by state-owned Petroleos de Venezuela (PDVSA) while pocketing part of the proceeds, according to six people with knowledge of the talks.
The talks show President Nicolas Maduro, facing a collapse in crude output and US sanctions aimed at ousting him, is seeking to attract investments to the Opec nation by offering even sweeter terms than a 2018 plan that walked back elements of the country's nationalist oil industry platform...
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