Reported about 14 hours ago
Venezuelan state-run oil company PDVSA reported $17.52 billion in oil sales abroad for 2024, benefiting from increased exports due to U.S. licenses that permitted foreign partners to operate within the country despite sanctions. The rise in exports is significant, with crude and fuel exports averaging 805,500 barrels per day, marking a 15% increase over the previous year. While Venezuela possesses vast oil reserves, production has been hampered by years of mismanagement and sanctions, though recent efforts toward recovery have shown improved figures.
Source: YAHOO