14 August 2026
BP to develop offshore gasfield in Venezuela with firms linked to Trump administration
Move will be one of first large-scale foreign investments in country since US ousted leader Nicolás Maduro in January BP has answered Donald Trump’s call for oil companies to help rebuild Venezuela’s fossil fuel industry with new plans to develop a large offshore gasfield. BP will partner with two oil firms with close links to the Trump administration to develop the second phase of the Loran gasfield, in one of the first large-scale foreign investments in Venezuela since the US ousted its leader Nicolás Maduro in January.
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