US seeks quick repairs to lift Venezuela oil output, Bloomberg News reports

The US is in talks with Chevron, other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela’s crude production, Bloomberg News reported on Saturday, citing senior administration officials.

Officials have discussed deploying, Halliburton and Baker Hughes  to repair and replace outdated equipment, and refresh older drilling sites, the report said.

Reuters could not immediately verify the report. The White House, Chevron, SLB, Baker Hughes and Halliburton did not immediately respond to Reuters’ requests for comment.

With limited investment, Venezuela could boost production by several hundred thousand barrels over the short term, the report said, adding that modern U.S. equipment and techniques could revitalise existing wells and bring new production online within months.

U.S. President Donald Trump said on Friday that U.S. oil companies will soon start drilling for oil in Venezuela. Trump has been clear about his desire to boost oil production in Venezuela following the capture of the country’s leader, Nicolas Maduro.

Venezuela has received $300 million in funds from oil sales, acting president says

Venezuela’s interim president Delcy Rodriguez said that the country has received $300 million from oil sales, the first proceeds from US. President Donald Trump’s announced 50-million-barrel oil supply deal with Caracas, following the capture of President Nicolas Maduro earlier this month.