Brazilian executive aims for 20,000 barrels of oil per day after purchase of field in Venezuela
Paulo Mendonça, leading the Swedish energy company Maha Capital, plans to increase oil production from 2,000 to 20,000 barrels per day at the PetroUrdaneta field in Venezuela after acquiring a significant stake in the joint venture with PDVSA.
Striking After American Sanction Easing – Entering a Venezuela Project
A Brazil-based investor has secured a 24% stake in Venezuela's PetroUrdaneta oil project following recent easing of U.S. sanctions.