28-April-2026
Corporate News
 
Exclusive-Companies Dust off Oil Rigs in Storage in Venezuela as Contracts Are Overhauled
28-Apr-2026

Oilfield service companies that for years kept rigs and specialized equipment stored in Venezuela have begun removing them from warehouses for assembly and repair as the government advances a review of oil and gas contracts that could lead to fresh activity, four sources involved in the preparations said. Since a sweeping reform of Venezuela's main oil law was approved in January, foreign and local producers have been submitting required documentation while negotiating the ratification or amendment of their contracts.

News Source:- https://money.usnews.com/investing/news/articles/2026-04-27/exclusive-companies-dust-off-oil-rigs-in-storage-in-venezuela-as-contracts-are-overhauled