Venezuela Proposes Allowing Private Companies to Operate Oil Fields -Sources

So far, companies showing interest in the new deals are relatively small, according to three of the people, who spoke on the condition of anonymity.

RIO DE JANEIRO, BRAZIL - (Reuters) Venezuelan officials have met in recent months with small domestic oilfield contractors to propose letting them operate fields owned by state-owned Petroleos de Venezuela (PDVSA) and receiving part of the proceeds, according to six people with knowledge of the talks.

President Nicolas Maduro, facing a collapse in crude output and U.S. sanctions aimed at ousting him, is seeking to attract investments to the OPEC nation by offering even sweeter terms than a 2018 plan that walked back elements of the country’s nationalist oil industry platform.

It was unclear whether any companies have . . .

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