BMI View: Indian companies are progressing with efforts to boost their participation in Venezuela’s oil sector-welcome news for the Latin American country, which has now stabilised oil production after registering declines in output in recent years. As Venezuela aims to both increase production and reduce its reliance on revenues generated from exporting to the US, Asian players stand to proft as the country’s poor operating environment causes many Western IOCs to keep their distance. However, PdVSA's ability to meet its long-term export commitments remains a signifcant downside risk.
展开▼
