New Market Report: Venezuela Oil & Gas Report Q3 2013
The death of Hugo Chavez underscores an uncertain and potentially precarious outlook for Venezuela's oil sector. Despite sizable hydrocarbon potential, underscored by the world's third largest oil reserves, above-ground risks will cause the oil sector to continue to perform below potential without substantial reform. While new projects will come online to boost output, delays in payment, poor terms and chronic underinvestment in infrastructure remain sizable risks to the downside. Although with a far narrower than expected margin, at the time...
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