Venezuela has awarded BP a licence to develop the offshore Loran gas field alongside state-backed partners from the UAE and Qatar, marking the British company's return to a country whose energy sector has been reopening to foreign investors since US forces captured Nicolás Maduro.
Published on
14/08/2026 - 10:54 GMT+2
BP is going back into Venezuela.
The agreement signed in Caracas on Thursday gives the company operatorship of Loran phase two, an offshore gas project holding more than four trillion cubic feet of proven gas resources, with Abu Dhabi's XRG, Qatar's UCC Oil and Gas Holding taking equal stakes beside it.
It is the clearest signal yet that the opening of Venezuela's energy industry to foreign capital, underway since Maduro's removal, is gathering pace.
BP torna in Venezuela con partner del Golfo: accelera l'apertura energetica post-Maduro
BP torna in Venezuela con partner del Golfo mentre accelera l'apertura energetica post-Maduro
BP to develop offshore gasfield in Venezuela with firms linked to Trump administration
Venezuela firmó acuerdos con tres empresas extranjeras para la búsqueda y producción de gas natural
Venezuela abre el juego al capital privado y firma nuevos acuerdos de gas con los gigantes internacionales BP, XRG y UCC
BP e XRG vão explorar campo de gás na Venezuela em retorno cauteloso das petrolíferas ao país
Venezuela inks gas deals with BP, two other foreign companies - Latest News
Il Venezuela concede le licenze per il gas a tre imprese straniere
Abu Dhabi's XRG enters Venezuela with offshore natural gas licence award | The National
BP to sell 20% stake in Venezuela's Cocuina gas field to Trinidad's NGC, sources say
Il Venezuela ha dato a BP una licenza per sviluppare il giacimento di gas offshore Loran con partner di Emirati e Qatar, segnando…
Il Venezuela ha concesso a BP una licenza per sviluppare il giacimento di gas Loran con partner di Emirati e Qatar, segnando il…
Move will be one of first large-scale foreign investments in country since US ousted leader Nicolás Maduro in January
El otorgamiento de permisos a British Petroleum, XRG de Emiratos Árabes Unidos y UCC de Qatar busca reactivar un sector…
El gobierno interino otorgó nuevas licencias para avanzar en la exploración del campo Lorán, una zona con siete yacimientos de…
Venezuela has granted Shell a licence to explore and export gas from the long-idle Loran field, a concrete step in its US-backed…
