Brazil's Petrobras Specialists in Venezuela
Brazil's state-run oil company Petrobras sent specialists to Venezuela at Maduro's request, following Biden's oil and gas sanctions relief. The collaboration continues despite threats to reinstate sanctions. Major oil companies are betting on Biden refraining from sanctions to keep oil prices down for his reelection campaign.
Key Points
- Brazil's Petrobras specialists visit Venezuela at Maduro's request
- Collaboration continues despite Biden's threats to reinstate sanctions
- Major oil companies betting on Biden refraining from sanctions for oil price stability
- Venezuela expected to see increase in oil export revenue in 2024
- Maduro regime violates terms of agreement regarding 'free and fair' election promises
Pros
- Potential increase in oil export revenue for Venezuela
- Restoration of Venezuela's oil industry with international support
Cons
- Maduro regime's continued human rights violations
- Violation of terms by Maduro regime regarding 'free and fair' election promises