Venezuela expands gas agreement with Repsol and Eni

Venezuela's interim president, Delcy Rodriguez, signed an agreement, on Thursday, with Spain's Repsol and Italy's Eni to expand a gas project in which both companies have been participating since 2009. Speaking on state-run television, acting President Delcy Rodriguez said the agreement will allow for gas production at Cardon IV, which is a 50-50 joint venture between Repsol and Italy’s Eni.

A government statement added that Venezuela is committed to seeking agreements with global investors in oil and gas. Venezuela holds one of the largest oil reserves in the world but has dilapidated energy infrastructure.