Last weekend, Venezuela completed the installation of the first floating oil platform by the Chinese company Concord Resources Corp. in Lake Maracaibo, Zulia state.

“The central infrastructure of the project is the Alula platform, a jack-up offshore unit flying the flag of São Tomé and Príncipe. The structure departed from the port of Zhoushan, China, and was guided by a tugboat under the Lake Maracaibo bridge toward Lagunillas.”

This project represents a $1 billion investment aimed at “reactivating production in the Lago Cinco and Lagunillas fields and reaching 60,000 barrels per day by 2026.”

CCRC operates under a 20-year production-sharing contract with Venezuelan oil company PDVSA and has deployed Chinese specialists to reopen at least 100 inactive wells.

It was learned that the goal of this project is to increase production in the Lago Cinco and Lagunillas fields “from the current 12,000 barrels per day to 60,000 bpd by the end of 2026,” following a plan to allocate light crude to PDVSA and export heavy crude to China.

M.Pino

Source: elnacional

(Reference image source: Marcus Oliveira on Unsplash)

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As a way to avoid US President Donald Trump’s tariffs, which also affect the technology sector, Apple announced a $100 billion investment in the country.

The initiative will also be aimed at boosting domestic production, the technology company said Wednesday, as it remains attentive to the launch of the American Manufacturing Program, “aimed at returning more of Apple’s supply chain to the US and turning the tech giant into a model or decoy to incentivize other companies to manufacture critical components in the country.”

The news of Apple’s multi-million-dollar investment is considered a “victory for our manufacturing industry that will simultaneously help relocate the production of critical components to protect U.S. economic and national security,” according to White House spokesperson Taylor Rogers.

The company’s investment will increase the technology company’s investment in the United States to $600 billion this year.

M.Pino

Source: elpais

(Reference image source: Kin Shing Lai on 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 X/Twitter and Instagram

La entrada Apple to make million-dollar investment in the US apareció primero en Bitfinance.