Yahoo Finance | EN590 Commodities
EN590 Commodities GroupCrude Oil 2026-08-29T02:15:36+00:00
A Bloomberg report on August 19 revealed that Venezuela has signed oil-related agreements with SLB NV (NYSE:SLB) and Hunt Oil as part of its efforts to attract investment and boost its crude production. One of the contracts is tied to the development and production enhancement of two oil fields, while the other is a framework agreement with SLB for services related to integrated reservoir studies throughout the country. The oilfield services giant expects to reactivate up to 15 oil rigs that are currently in the South American country. The deal follows an earlier long-term agreement that SLB signed with Venezuela's state oil company PDVSA to help modernize and revive the country's oil and gas sector. The MoU covered cooperation across exploration, field development, and production. The
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