BP Wins Offshore Licence in Post-Maduro Venezuela
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British company BP has secured an offshore licence in Venezuela, marking its return to the country less than nine months after the US government ousted former president Nicolás Maduro. This move aligns BP with other major oil companies re-entering the Venezuelan market following the political changes in Caracas.
The decision reflects a broader trend among Big Oil firms to capitalize on opportunities in Venezuela's oil sector, which has been largely dormant due to years of sanctions and political turmoil. BP's involvement is seen as a significant step in revitalizing the country's oil production capabilities.
Sources
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“British company among winners of offshore licence less than nine months after US toppled Caracas strongman”
FT — BP joins Big Oil return to post-Maduro Venezuela