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Venezuelan state oil company Petroleos de Venezuela last month sent letters to joint venture partners asking if they wish to maintain stakes in their various projects once they expire, four people familiar with the matter said on Wednesday. Contracts for many of the ventures expire in 2026, with the option to renew for 15 years. The negotiation period for the potential renewal begins five years before the expiration date, said the people, who described the communications as procedural. Full Text -> Regina Leader Post
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