Venezuela expects to sign licenses by year-end for developing the nation's vast natural gas reserves, oil minister Pedro Tellechea said on Friday, even amid U.S. sanctions, according to Reuters.
Most of the South American country's gas reserves remain undeveloped after decades of insufficient investment, contract changes and - in recent years - U.S. sanctions to oust President Nicolas Maduro. But new officials running the oil ministry and PDVSA want to encourage new investment and unfreeze projects.
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Source: Reuters
