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…
BP, the London-listed oil company, has announced plans to develop a large offshore gasfield in Venezuela with two firms linked to the Trump administration. The partnership comes as the U.S. ousted Venezuelan leader Nicolás Maduro in January, and marks one of the first large-scale foreign investments in the country since the ouster.
BP will collaborate with a Qatari company owned by the Al-Khayyat brothers, who worked with Ivanka Trump and her husband Jared Kushner on a controversial resort in Albania. The company will also work with the overseas investment arm of the UAE's national oil company, run by industry minister Sultan Al Jaber. Despite rival Shell securing a license to develop the first phase of the Loran field earlier this summer, BP's involvement in the country's fossil fuel industry represents progress.
BP's chief executive, Meg O'Neill, described the license as "an important step forward" in the company's collaboration with Caracas.
Written by urgent.news from The Guardian's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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