News Release
Fast output recovery of oil and gas still challenging with easing of US sanctions on Venezuela
Addressing the US Treasury Department’s partially lifted sanctions on Venezuela’s oil and gas sector, Adrian Lara, principal research analyst, Latin America Upstream Oil and Gas for Wood Mackenzie said, “Although still conditioned by a subsequent renewal, this new easing of sanctions can certainly be considered a positive move towards the recovery of the Venezuelan oil and gas sector. However, it does not guarantee a rapid or permanent recovery of production, given the required investment needed to deal with current infrastructure repairs and bottlenecks.”
