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IRAN Energy News Agency
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel

Venezuela’s Rig Count Is at a 14-Year Low

Venezuela lost the top spot to Brazil amid triple-digit inflation, unpaid debts to oil-service companies and lack of investment.

The number of active oil rigs in Venezuela is heading for a second annual decline, Baker Hughes Inc. data published Tuesday showed. That means lower output and a drop in the much-needed dollars the country requires to service its debt. Once Latin America’s largest oil producer, Venezuela lost the top spot to Brazil amid triple-digit inflation, unpaid debts to oil-service companies and lack of investment.

 

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Parvin Faghfouri Azar
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Venezuela’s Rig Count Is at a 14-Year Low

Venezuela lost the top spot to Brazil amid triple-digit inflation, unpaid debts to oil-service companies and lack of investment.
Parvin Faghfouri Azar
The number of active oil rigs in Venezuela is heading for a second annual decline, Baker Hughes Inc. data published Tuesday showed. That means lower output and a drop in the much-needed dollars the country requires to service its debt. Once Latin America’s largest oil producer, Venezuela lost the top spot to Brazil amid triple-digit inflation, unpaid debts to oil-service companies and lack of investment. 
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