Italy’s Eni Expands Venezuela Push With Orinoco Oil Deal
An Eni gas station near the Eni headquarters in Rome.
Photographer: Giulio Napolitano/BloombergEni SpA agreed to restart an oil project in Venezuela’s Orinoco Belt, deepening its presence as US sanctions ease.
The Italian company signed an agreement with state-owned Petróleos de Venezuela SA to resume work at the Junín-5 venture, after a meeting between Chief Executive Officer Claudio Descalzi and interim President Delcy Rodríguez in Caracas, Eni said Tuesday.