XRG advances global gas strategy with entry into Venezuela
Aug 14, 2026
Abu Dhabi [UAE], August 14: XRG, ADNOC's international energy investment company, today announced its entry into Venezuela through the award of the offshore Loran licence by the Bolivarian Republic of Venezuela, and the transfer of interest in the license by PDVsA Gas. Subject to customary regulatory approvals, XRG will hold an interest in the licence alongside bp and UCC. The licence contains over 4 trillion cubic feet of proven gas resources and would add meaningfully to XRG's growing Latin America platform while enhancing its position in the Atlantic Basin.
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