HOUSTON/BENGALURU (March 5): Oil major Shell inked several oil agreements with the Venezuelan government on Thursday that span offshore natural gas and onshore oil and gas opportunities, the company said in a statement. It also signed several technical and commercial agreements with Venezuelan engineering company VEPICA, as well as with KBR and US oil services firm Baker Hughes. Shell has had a long-running offshore gas project in Venezuela called Dragon that has experienced setbacks in recent years as US policy towards Venezuela shifted. In February, Shell said that general licences for oil and gas exploration issued by the US will allow the company to move forward with the project. Atlantic LNG is owned by Shell, BP and Trinidad's National Gas Company.

Source: The Edge Markets March 06, 2026 01:29 UTC