President in Charge highlights signing of the license for gas production in Phase 2 of the Loran Field

Published at: 13/08/2026 07:08 PM

The President of the Republic, Delcy Rodríguez, highlighted the importance of signing an agreement to exploit a gas field located in waters bordering Trinidad and Tobago, after 23 years of unsuccessful negotiations between the parties involved.

“We celebrate a new alliance that opens up opportunities for Venezuela. The companies British Petroleum (BP), XRG, from the United Arab Emirates, and UCC Holding, from Qatar, are joining the promotion of gas production by signing the license for Phase 2 of the Loran Field, an important step in strengthening energy development in our country,” stressed the president in charge.

He also recognized that this alliance will consolidate our path as a gas-exporting country and will strengthen national economic development by boosting domestic supply.

Mazo News Team