(Bloomberg) -- Venezuela has an opportunity to resuscitate the linchpin of its economy — oil — now that punishing US sanctions have been relaxed. The...
-- Venezuela has an opportunity to resuscitate the linchpin of its economy — oil — now that punishing US sanctions have been relaxed. The surprise move on Oct. 18 allows international companies to apply the full weight of their expertise and technology to crude fields and infrastructure that atrophied amid years or underinvestment, civil turmoil and international isolation.
“We are a constructive presence in Venezuela, where we have dedicated investments and a large workforce,” Chevron said in an email. “We remain committed to the safety and wellbeing of our employees and their families, the integrity of our joint venture assets, and the company’s social and humanitarian programs.”The Russian giant may have the most to lose because the US measure prohibits American companies from cooperating with or providing financing for Rosneft’s assets in Venezuela.
-- The pandemic officially ended months ago, allowing a weary public to get back to normal living. That was great news for large swaths of the economy.
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