GAGE VENEZUELA HOLDINGS LLC (“GAGE”), a recently created partnership between Amos Global Energy Management LLC (“AGE”) and Gramercy Funds Management LLC (“Gramercy”) announced today that it has entered into a joint venture with Inepetrol, S.A., a subsidiary of Inelectra S.A. (“Inelectra”).  The joint venture would seek to target and develop oil and gas interests in the Gulf of Paria area offshore Venezuela by participating in Empresas Mixtas Petro Güiria and Petro Paria. Full Text -> PRNews

Traducción de cortesía -> GAGE VENEZUELA HOLDINGS LLC (“GAGE”), una sociedad recientemente creada entre Amos Global Energy Management LLC (“AGE”) y Gramercy Funds Management LLC (“Gramercy”) anunció hoy que ha entrado en una empresa conjunta con Inepetrol, S.A., una subsidiaria de Inelectra S.A. (“Inelectra”). La empresa conjunta buscaría apuntar y desarrollar intereses de petróleo y gas en el área del Golfo de Paria en alta mar en Venezuela participando en Empresas Mixtas Petro Güiria y Petro Paria.

Latin America’s oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana and the Andean region that are expected to attract bids from major oil firms despite a global call to end fossil fuel development. By Marianna Parraga and Sabrina Valle. Full Text -> Metro.US

Traducción de cortesía -> Las fronteras petroleras de América Latina vuelven a ser el centro de atención con las próximas subastas en Brasil, Guyana y la región andina que se espera atraigan ofertas de las principales empresas petroleras a pesar de un llamado global para poner fin al desarrollo de combustibles fósiles.

Smaller players are eager to recommence talks with Venezuela over its crude oil opportunities before the majors start their attack. The eventual easing of sanctions on Venezuelan oil under President Joe Biden’s Administration could allow Venezuela to once again take centre stage in Latin American oil.  President Maduro recently stated on national television, “I want to tell investors from the U.S. and around the world that Venezuela’s doors are open for oil investment”. By Felicity Bradstock. Full Text -> OilPrtice

Drawn by promises of privatization and more autonomy to tap the world’s biggest crude reserves, they’re meeting with the Nicolas Maduro regime and state-owned Petroleos de Venezuela SA to best position themselves when doing business there is possible again. Bigger producers like Chevron Corp., France’s Total SE and Italy’s Eni SpA would probably wait until U.S. sanctions are lifted, but smaller players might get started whenever new rules opening up the industry for private enterprise take effect. By Fabiola Zerpa and Ben Bartenstein. Full Text ->FinancialPost

Venezuela is opening up to foreign investment in its oil industry, President Nicolas Maduro said this week, in a bid to reverse a catastrophic drop in its output under the weight of U.S. sanctions. Jorge Jraissati reported for Anadolu Agency this week that Maduro said in its annual accountability speech that Venezuela will aim to pump 1.5 million barrels of oil daily, which will need help from foreign partners. By Charles Kennedy. Full Text-> OilPrice