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The Guardian - UK
The Guardian - UK
Business
Jillian Ambrose Energy correspondent

BP to develop offshore gasfield in Venezuela with firms linked to Trump administration

British Petroleum Venezuela Oil Donald Trump Ivanka Trump Nicolás Maduro United States Meg ONeill ExxonMobil
The BP logo at a petrol station
BP’s decision comes after Donald Trump called for foreign oil companies to invest ‘at least $100bn’ to help rebuild and tap Venezuela’s resources. Photograph: Arnd Wiegmann/Reuters

BP has answered Donald Trump’s call for oil companies to help rebuild Venezuela’s fossil fuel industry with new plans to develop a large offshore gasfield.

BP will partner with two oil firms with close links to the Trump administration to develop the second phase of the Loran gasfield, in one of the first large-scale foreign investments in Venezuela since the US ousted its leader Nicolás Maduro in January.

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