Intelligence Series - Oil & Gas

Venezuela's Oil Sector: Are We at The Turning Point?

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Intelligence Series Oil & Gas

Spurred by deficits and US sanctions, Venezuela's state oil company PDVSA has been giving a greater role to its JV partners in selling crude. The key question for the future of the sector is whether this process will also lead to greater flexibility in the control and operation of the fields. For some analysts, those changes are already happening in practice. Within that framework, PDVSA is also looking to revive old projects with new allies.

Figure - Venezuela: Monthly Oil Production in 2019

Table of contents

  • Introduction
  • Stabilization After the Collapse
  • Changes in the Rhythm of the Crisis
  • Opportunities for Risk Takers
  • How Far Will the Changes Go?
  • Conclusion

Companies and projects related to this report

  • Rosneft
  • Repsol S.A.
  • Chevron Brasil
  • Halliburton Co.
  • Pluspetrol S.A.
  • Citgo Petroleum Corporation
  • Organization of the Petroleum Exporting Countries / Organización de Países Exportadores de Petróleo
  • Harvest Natural Resources, Inc.
  • Reliance Industries Limited
  • Petróleos de Venezuela S.A.
  • ExxonMobil Corp.
  • Eni S.p.A.
  • ConocoPhillips Co.
  • China National Petroleum Corp. (CNPC)
  • Petrosur S.R.L.
  • Baker Hughes Inc.
  • Weatherford International Ltd.
  • Schlumberger Ltd.
  • Wood Mackenzie Ltd.
  • Junín 10 Block


Gustavo Stok

Laura Superneau

Pages (English Version)