A person familiar with the plan says that the company will take over operational control of the facility this week during a visit by company and government representatives.
The Minister of Oil, Tareck El Aissami, will visit the Petropiar upgrader at the Jose Petrochemical Complex near Barcelona in northeast Venezuela on December 7, according to a person. The person asked for anonymity because the details have not been announced.
The government and the company did not respond to messages.
The facility will be used to process tar-like crude from Venezuela that will be shipped to US refineries in the Gulf of Mexico under a sanctions waivers granted by the Treasury Department. The first shipment is expected to arrive later this month.
The California-based driller will regain control of operations, financing and trading in joint ventures with the state oil company in Venezuela. The last major international firm still operating in Venezuela has the ability to increase production from the joint ventures to 200,000 barrels a day within a year.
All Rights Reserved © 2024
