2023-10-20 14:29:01
The largest oil services company, SLB, plans a rapid return to Venezuela’s oil fields following the general easing of U.S. sanctions on the country’s oil industry, its chief executive said Friday.
The United States on Wednesday lifted most of the six-month restrictions imposed on Venezuela’s oil industry to produce, sell and export oil. The measure temporarily suspended sanctions imposed since 2019 on the OPEC country’s oil and gas industry.
“We will react and mobilize as quickly as possible the resources and equipment that are there to respond and participate in this reopening,” said SLB general manager Olivier Le Peuch during a conference call with investors.
Mr Le Peuch cautioned that it was too early to say what SLB might achieve in the short term. “But its potential is huge if you have (facilities in place). Indeed, it’s great,” he said.
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