Event Brief
UPDATED May 15, 2026 at 4:10 PM ET
May 13, 2026 at 4:04 PM ET
PDVSA circulates drilling contract model to restart oil
By The BriefBrief
PDVSA circulated a model contract outlining conditions to restart wells, drill new ones, and market production.
WHO: Petróleos de Venezuela (PDVSA)
WHAT: Circulated a model drilling contract for restarting existing wells, drilling new ones, and marketing production
WHEN: May 15, 2026 at 3:17 PM ET
WHERE: Venezuela
WHY: Venezuela’s National Assembly approved the legal framework for restarting the oil sector, prompting PDVSA to circulate the contract model.
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