11 May 2026
11 May 2026
Rich in resources, Venezuela has the potential to be the world’s largest oil producer, but uncertainty and political volatility stand in the way.
At 09:02 GMT, Brent had gained $2.70 to reach $103.99/bbl, while WTI had risen $2.24 to $97.66/bbl.
The company posted net income of SR122bn ($32.5bn) for Q1 2026, up from SR97.5bn a year earlier.
The new entity will be headquartered in Houston, Texas, US, and continue to maintain a significant presence in Oklahoma City.
The Mako field, which is fully appraised, lies within the Duyung PSC in the Natuna Sea.
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