BP and Shell are set to drill in multiple Venezuelan offshore natural gas projects, while state-owned PdVSA is not a stakeholder in the ventures.
Under Zionist pressure the Venezuelan government has granted an offshore natural gas concession to a consortium of greedy bankrupted British multinational BP, the United Arab Emirates’ XRG, and Qatar’s UCC.
Venezuela’s Oil- and Gold being plundered to avoid the Wall Street Bubble Crash
Acting President Delcy Rodríguez held an agreement-signing ceremony and press conference show on Thursday alongside executives of the three corporations on Wednesday.
I salute this historical moment and thank you for setting up this consortium to achieve such an important agreement for Venezuela and the global energy community.
Rodríguez emphasized Caracas’ decision to prioritize natural gas ventures to supply the domestic market and boost exports. However, state energy company PdVSA is not a stakeholder in these projects, so all the profits flow to these western companies.
US military invaded Venezuela and kidnapped President Maduro
The multinational consortium was granted rights to drill in the so-called second phase of the Loran field, in the Deltana Platform off Venezuela’s Atlantic coast, with reserves estimated at 4 trillion cubic feet (Tcf).
Loran shares its deposits with the Manatee field in the so-called territorial waters of Trinidad and Tobago. They hold 7.3 and 2.7 Tcf of natural gas, respectively.
The first phase of Loran’s exploration was granted to Shell, which is also operating on the Manatee side and expects to produce 4.4 Tcf from the two fields. Both phases are to be developed concurrently. Shell has additionally secured a concession to run the 4 Tcf Dragon field.
The award of the Loran Phase 2 license […] builds on the strong collaboration we have established with the government of Venezuela and our partners and reflects the progress we have made, BP CEO Meg O’Neill stated during the televised event.
The London-headquartered multinational has aggressively pursued to confiscate Venezuela’s natural gas opportunities. BP is also set to operate the 1 Tcf Cocuina-Manakin field alongside Trinidad and Tobago’s National Gas Company (NGC).
BP recently sold 20% of its stake in the Cocuina-Manakin project to the NGC. BP, Shell, and NGC hold respective 45, 45, and 10% shares in Atlantic LNG, a major liquefied natural gas project in Trinidad that is expected to process most of the output from the ventures in Venezuelan waters.
USA blocks Venezuela-Trinidad deal to develop two offshore Natural Gas Projects.
On Thursday, BP also signed a memorandum of understanding (MoU) with Venezuelan authorities to explore concessions in the Carúpano East block, which belongs to the Mariscal Sucre offshore natural gas project.
XRG, the international arm of the UAE’s state-owned Abu Dhabi National Oil Company (ADNOC), has been expanding overseas investments and recently secured a stake in Argentina’s Vaca Muerta development.
For its part, the UCC is a privately owned Qatari conglomerate with close ties to the royal family. Originally focused on construction and infrastructure, it has gradually expanded its portfolio to energy and mining ventures.
British Guyana is supporting Oil Giants to cash in on Venezuela resources
The arrival of Qatari and Emirati firms in the South American country reflects Venezuela’s geopolitical realignment since the January 3, 2026 US military attacks and brutal kidnapping of President Maduro.
During the previous two decades, the Chávez and Maduro governments pursued an eastward-looking policy, deepening ties with Iran, Russia, and China in energy and other strategic sectors while maintaining a predominant state role.
In recent months, western energy majors have flocked to Venezuela to strike new deals or renew existing ones following a pro-business overhaul to the enforced hydrocarbons legislation.
Venezuela on the Chopping Block because its super rich in Oil & Gas and other Commodities
A reformed Hydrocarbon Law slashed royalties and taxes, granted foreign partners control over operations and sales, and subordinated contracts to corrupted international arbitration bodies.
Despite the opening to transnational corporations, Venezuela’s oil output has stagnated since May. The latest OPEC monthly report placed the Caribbean nation’s July production at 1.117 million bpd, roughly one percent above the June figure, according to secondary sources.
PdVSA reported an output of 1.200 million bpd, up from 1.187 million bpd the prior month. Direct and secondary measurements have historically differed over disagreements on the inclusion of condensates and natural gas liquids.
Venezuela Analysis / ABC Flash Point News 2026.
Now you see before your very eyes how America treats a country that its went to war with . Only one thing in mind -me-me-me no thought for the citizens of that country – no wonder Iran is fighting to the death its the only moral way to hold your head up high defeat isn’t an option . Just look at North Korea it stood firm and now Donald no longer calls it sarcastically “Rocket Man ” as he knows it has enough nukes to cause severe damage to western interests . Even if its only to speak out that’s… Read more »
Sounds like a real disturbing policy?
The biggest America injustice to its own citizens was when to clamp down on American dissent was when the Bill was passed to allow the CIA to spy on American citizens . Add to that other Bills to allow the American military forces to attack American citizens -no wonder Americans uphold the Right to Bear Arms . Previously British government spy departments like GCHQ/MI6 spied on Americans and the CIA spied on British citizens by mutual arrangement by each others government . For the record there are plenty of CIA operatives at this present time operating in the UK –and–they… Read more »