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Latin Times
Latin Times
World
Demian Bio

Texas billionaire announces deal with Venezuelan state-run company after U.S. sanctions reimposed

Oil facility of Venezuela's state oil company PDVSA (Credit: Reuters)

A company closely linked to Texas billionaire Rod Lewis announced a deal with Venezuelan state-run oil company PDVSA to rehabilitate five aging oil fields, The Associated Press reported.

The announcement comes days after the Biden administration reinstated sanctions against the sector given the Maduro government's lack of progress on electoral concessions in the South American country.

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