The Italian oil company Eni presented a report last week reflecting a debt of $3.3 billion owed by Venezuela’s state-owned PDVSA to the firm. This comes amidst negotiations between Venezuela and the United States regarding oil and the easing of sanctions in this sector.

Eni’s annual report, which includes data up to the end of 2025, also includes “approximately $1 billion in accrued interest.”

To put this information in context, it’s important to note that Eni and the Spanish company Repsol produce gas at their jointly owned Perla offshore field — the only active offshore gas project in Venezuela — whose production is purchased by PDVSA primarily for national electricity generation.

PDVSA has not made the corresponding payments for these gas volumes, accumulating a multimillion-dollar debt with Eni and Repsol, who were unable to receive in-kind payments from PDVSA due to the tightening of US sanctions.

Although the situation has improved since the beginning of this year, the debt persists. However, Eni has indicated that it is in talks with US authorities regarding its potential participation in the reactivation of the Venezuelan oil sector.

M.Pino

Source: eleconomista

(Reference image source: WORKSITE Ltd. on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Venezuela’s debt to Italian oil company Eni reaches $3.3 billion apareció primero en Bitfinance.

In its annual report on world oil prospects until 2050, the Organization of the Petroleum Exporting Countries (OPEC) announced the extension of its forecasts for crude oil demand in the medium and long term.

The organization foresees an increase in consumption, “led by India, Africa and the Middle East,” which will boost demand for crude oil worldwide.

In the report entitled “World Oil Outlook 2024,” released on Tuesday, September 24 in Brazil, OPEC believes that “demand will grow for longer than other analyses, such as BP and the International Energy Agency (IEA), which consider that crude consumption will peak this decade.”

According to the projections, global oil demand would reach 118.9 million bpd in 2045; about 2.9 million bpd more than expected in the 2023 report.

But there is more. The OPEC report “extends its horizon to 2050 and foresees demand reaching 120.1 million bpd by then.” For its part, “BP expects oil consumption to peak in 2025 and fall to 75 million bpd in 2050. Exxon Mobil expects demand to remain above 100 million bpd until 2050, a level similar to the current one.”

M.Pino

Source: finanzasdigital

(Reference image source: Getty Images for Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada OPEC raises its forecasts for world demand in the medium and long term apareció primero en Bitfinance.