OSLO (Jan 7): Equinor does not plan a return to Venezuela, after leaving the country in the early part of this decade, the Norwegian oil and gas company's CEO told Reuters on Wednesday. "At the moment, that's not on the table," Anders Opedal said on the sidelines of a business conference. "We pulled out of Venezuela because we wanted to reallocate capital." Equinor entered Venezuela's oil and gas industry in the mid-1990s, investing billions of dollars onshore and offshore and identifying the country as a core part of its operation, but ultimately pulled out after some 25 years. Equinor's Opedal said rebuilding Venezuela's oil industry to extract more of the country's heavy oil will demand huge investment.

Source: The Edge Markets January 07, 2026 11:27 UTC