Petróleos de Venezuela (PDVSA, Venezuela’s publicly owned petroleum company) signed a memorandum of understanding with a Texas oil corporation to operate 3,000 wells in the Orinoco Oil Belt over an 18-month period. PDVSA signed a memorandum with the Texas company Sunergon Oil aiming to recover 80% of Venezuela’s production capacity over the next three years. … Continue reading PDVSA Will Partner with Texas Oil Company to Restore Venezuela’s Oil Production