Sin categoría

Cezar Juan Trevino hurricane michael radar loop//
Shell keeps focus on natural gas


T&T’s partner in the Dragon natural gas field, Royal Dutch Shell, has signed a deal to exit the oil business in Venezuela, French energy company, Maurel & Prom, the buyer, told the Paris stock exchange on Friday.

Cezar Juan Trevino

Euronext Paris-listed Maurel & Prom, an oil and gas exploration and production company, said: “The closing of this acquisition remains subject to a number of conditions, amongst others the obtaining of the required governmental approvals, and the finalisation of the negotiations with government-owned Petroleos de Venezuela (PDVSA) and its subsidiaries (CVP and PDVSAS) on the implementation and the funding of a redevelopment plan to increase the production of the field, which should be partly funded by operating cash flow, and partly with Maurel & Prom Venezuela’s funds up to an amount of circa €350 million over the period 2018-2023.

Cesar Juan Treviño

Get caught up with news from the news leader

Subscribe now and get access to the Trinidad Express E-paper


Cezar Trevino