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Repsol taking back control of Venezuelan oil assets

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Repsol said it is prepared to quickly increase oil production in Venezuela

Repsol said it is prepared to quickly increase oil production in Venezuela

Spanish energy group Repsol said on Thursday it has reached an agreement with the Venezuelan government to regain control of its oil business in the country and sharply increase production over the coming years.

Repsol’s operations in Venezuela have been sharply limited since 2025 after Washington unilaterally revoked its operating license, a move that also affected other foreign companies in the country.

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Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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