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NTSB finds evidence that bird strikes occurred before fatal New York helicopter crash
The National Transportation Safety Board announced Thursday that it had 'found evidence of bird strikes before a tourist heli smashed upside down in the Hudson River, 'New York City,?April 2025 killing all six passengers. Agustin Escobar was the CEO of Rail Infrastructure for Siemens Mobility, a train transportation division of Germany's Siemens, and he died in this accident. The NTSB confirmed that evidence had been found of a bird'strike' on the Bell 206L-4 helicopter. At least two dozen helicopter operators are listed on the tour website Viator. They offer tourists a bird’s eye view of Manhattan. Many operators offer shuttle helicopter services to area airports. This was the eighth tourist flight of the day. It flew from the Statue of Liberty over to the George Washington Bridge and then turned south to fly over the Hudson River. Witnesses reported hearing loud "bangs and pops" before the helicopter broke apart and fell into the Hudson River. A witness also reported that, just minutes before, she had seen a large flock take off near the Newport lighthouse, Jersey City, New Jersey. The NTSB report stated that "when the helicopter banged, I immediately believed it was a Bird Strike." Five passengers on a helicopter in New York died when it crashed into the East River. The pilot, however, survived. The helicopter was on charter flight with an open door that allowed passengers to take photos of the skyline. After 67 people were killed in a crash between an American Airlines regional plane and an Army helicopter near Reagan National Airport, Washington D.C. in January 2025, regulators focused on helicopter safety. The FAA has restricted helicopter traffic in the vicinity of that airport permanently and also imposed restrictions on helicopters around the country. David Shepardson, David Gaffen and David Shepardson contributed to this report.
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Ontario asks for federal assistance to evacuate remote Canadian towns as wildfires ravage them
Canada is experiencing more wildfires now than in mid-July of the previous two years, and the area that has been burned has increased compared to the year 2025. The majority of fires are located in remote parts of central provinces such as Manitoba, Saskatchewan, and Ontario. In recent years, wildfires have affected remote indigenous communities disproportionately. Indigenous Services Canada reported that 1,600 people had been evacuated due to fires in First Nations communities as of July 15, 2015. CBC News reported that the Namaygoosisagagun First Nation in northwestern Ontario, also known by its former name Collins First Nation was evacuated Monday following a rapid-moving fire which swept through an area near 'Armstrong', located more than 500 km (310 miles), north of Toronto. Video showed community members going door-to-door to warn residents. Then, as the flames approached their homes, more than 20 people and their pets escaped on boats. Helen Paavola, chief of the community in question, told CBC that it was all destroyed within an hour. According to Ontario's Aviation Fire and Emergency Services, the wildfire that affected the Armstrong area, which included Namaygoosisagagun?and Whitesand First Nation nearby, had reached more than 350,000 ha by Thursday. Jill Dunlop said, "In response?to the significant threat of wildland fire activities in northern Ontario, Ontario has issued a Request for Assistance. The province is prepared to expedite deployment of federal resources that will support evacuations." She added that the Canadian Armed Forces were among those who would be able to help. Prime Minister Mark Carney stated that the federal government will continue to work closely with its provincial and municipal counterparts, and provide any additional assistance needed. According to the government, there were 859 fires burning across the country as of Thursday. 113 were deemed out-of-control. 2.384 hectares (5.89 acre) of land have been burned so far. Carney stated on Wednesday that "the wildfire situation in Canada has deteriorated dramatically over the past three weeks, particularly in Northwestern Ontario." "Thousands of people were forced to leave their communities because they didn't know if their houses would survive." Canadian National Railway?said that employees and residents in the town of Armstrong had been evacuated Monday night following a viral video posted on social media showing a CN Train surrounded by a?fire? in the surrounding area. CN announced that it had temporarily suspended rail operations in the vicinity of Armstrong due to a?wildfire'. Fury Gold Mines, based in Vancouver, announced on Wednesday it had suspended exploration and drill at its Eau Claire Project in northern Quebec following the evacuation of all personnel because of a nearby forest fire. Green Technology Metals is an Australian-listed company that focuses on lithium exploration. It has a mine near Armstrong. Green Technology Metals did not reply to an email asking if it evacuated staff. The majority of gold mines in northern Ontario are located away from the fires. Thunder Bay is the largest city in Northwest Ontario and has many wildfire evacuees.
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Carney: Canada won't share bridge tolls until US debt is repaid.
Mark Carney, the Prime Minister, said that Canada would not share toll revenue with the United States until Canada had recovered its initial investment. The delay in opening the Gordie-Howe bridge, which was paid for by Canada has caused tensions between the United States, and Canada. This is at a time when the two countries are trying to update their trade agreement. Donald Trump, the U.S. president, said last week that he had negotiated "a better deal" with Canada to enable the U.S. bridge's July 27 opening. Carney was criticized by political opponents for caving in to the U.S., after American officials claimed that they had "gone from receiving no revenue" to a significant amount of revenue. Carney told a Thursday press conference that the agreement between Michigan and Canada on the Gordie-Howe bridge was unchanged since 2012, when Canada agreed pay for the bridge. According to the deal, Canada had the right to keep all toll revenues until it recovered its bridge investment costs. Carney said that any sharing of?toll revenues will not happen until the entire debt has been repaid. Carney added that Canada and the U.S. would share net revenues during the first fifteen years, after operating costs such as maintenance and snow removal. He said that he expected net revenues to be modest for the first couple of years after these costs. "When the splitting starts, all the portions that are going to the U.S. Government will be reinvested?into economic development." Details of the agreement reached between Canada and the U.S. are not public. Two sources said that a deal was reached last week, and the U.S. It would receive 50% of the toll revenue profit and be able veto any toll increase that is 10% higher than current tolls. Fen Hampson is a professor at Carleton University who specializes in international affairs. He said that the deal represented a win for Canada. If you do the math on when Canada will split the revenues, it won't leave much to?split." Carney said that it was in Carney's interest that Americans thought they forced a Canadian concession. It's better for Trump to think that he has won, or else he could be vindictive. Shuvaloy Majumdar, a Conservative Member of Parliament from the opposition, called it "a terrible?deal" in a letter he sent to government last week. Majumdar wrote: "Canadians are entitled to the complete agreement, an accounting of all costs and a clear explanation about what was given."
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US networks are faced with a dilemma about whether or not to broadcast Trump's speech on election security
U.S. TV networks are considering whether or not to broadcast a planned address by President Donald Trump on Thursday, who will reportedly?focus his remarks on the security of elections, four months before?critical midterm election. Most of these speeches have been broadcast on television because they are considered to be important for the public. Reports on Wednesday said that the White House was considering using the speech as a way to reveal sensitive intelligence about China's intent or ability to influence the 2020 U.S. elections. Some Trump officials are concerned this could be misleading. Karoline Lavitt, White House Press secretary, said during a press briefing on Thursday that it is "also very likely" that Trump will address the current economic situation and Iran at the beginning of his speech. She said it is "all the more reason" that the networks should broadcast the speech in real time and Americans should tune in. Trump has spent many years sowing doubts over the outcome of elections, falsely claiming that his loss to Democrat Joe Biden in 2020 was rigged. Trump has claimed, without any evidence, that mail-in votes are rife in fraud and voting machines can be manipulated. Non-citizens voting is also widespread. Democrats such as U.S. Rep. Alexandria Ocasio Cortez have asked networks to not air the speech. They claim Trump will likely?repeat false claims. The three?major U.S. television networks - ABC, CBS, and NBC - did not answer questions regarding whether or not they would be broadcasting the speech live. CNN and Fox News did not reply to requests for comment. Refusing to broadcast the speech could anger an administration which has already put unprecedented pressure on major broadcast networks. Walt Disney's ABC faces two pending Federal Communications Commission inquiries, one of which examines whether the daytime talk show 'The View' violated equal time rules by interviewing Democratic Senate candidate in Texas. Trump has attacked NBC, and Comcast (which he calls "Concast"), repeatedly. He stormed out last month of an interview with NBC's political reporter Kristen Welker, after calling it "a one-sided crooked" network. Comcast?announced plans to split into 2 publicly traded companies by a spinoff NBCUniversal Sky. Analysts?have stated that the move could'make NBCUniversal a takeover target. The takeover of Paramount, by David Ellison - whose billionaire dad Larry is an ally of Trump - has caused a stir in the CBS newsroom, and led to the departure of senior staffers from "60 Minutes". Several employees have claimed that political influence was used to make editorial decisions. The network has denied this claim. Ellison now awaits FCC approval of Paramount's purchase of Warner Bros. Discovery could allow him to control CNN, which Trump has long criticized as unfair. Last month, the?Antitrust Division of the U.S. Justice Department approved this deal. The ?conservative-leaning cable news network Fox News, owned by Rupert Murdoch, generally carries all of Trump's speeches but may also be wary of this one. The network was ordered to pay $787 million in 2023 to settle a lawsuit for defamation over false claims it made about the 2020 elections. (Reporting Helen Coster, Additional reporting Edmund Lee; Editing Alistair Bell).
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New York's hydropower line outage irks governor who championed the project
The administration of New York Governor Kathy Hochul on Wednesday condemned an "ongoing outage" on the Champlain-Hudson Power Express transmission line. She had championed the $6 billion project to reduce the use of dirty oil-fired power plants and increase the razor-thin'state grid's buffer against unforeseen events. According to the latest transmission outage calendar from grid operator New York ISO, the?1,250 megawatt Champlain Hudson Power Express is expected to remain offline until July 31. New York ISO's data previously indicated that CHPE would not be in service until the end of this week. New York ISO didn't respond to a request for comment. Ken Lovett is Hochul's spokesperson and he said that the CHPE outage was unacceptable. "On the Governor's instruction, administration officials are in daily contact with developers to help identify and solve the problem." CHPE is able to deliver as much as 20% of New York City’s electricity. Hydro-Quebec said on Monday that it is currently offline because of a cable problem. Hydro-Quebec stated that the current cable problem on the U.S. end of the line has nothing to do with the shutdown on July 1. Blackstone Inc. and Hydro-Quebec jointly developed the project. Hochul said last month that CHPE would help replace the lost power with the?closure of the Indian Point nuclear facility. Since then, New York City is relying more on fossil-fuel generators and this has increased pollution in the downstate area. According to the NYISO, this month, with temperatures reaching 100 degrees Fahrenheit,?oil-fired-generators have been ramped up in order to meet a surge in energy demand due to increased air conditioning usage. The power line runs 339 miles (546 km) along the length of New York State from the Canadian border, to the converter station in Astoria Queens where the energy enters the New York City grid. New York ISO announced earlier this week that it would not be relying upon CHPE for this summer's grid, despite the fact that grid reserves were "extremely low."
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Ontario seeks federal assistance for evacuations due to wildfires, as the smoke spreads
Ontario asked for federal assistance on Thursday to evacuate people from remote northern communities that were ravaged by wildfires. Smoke brought poor air quality to Toronto and the Northeastern U.S. Canada now has more active fires than in the previous two years, and has a larger burned area compared to the year 2025. The majority of fires are located in remote parts of central provinces such as Manitoba, Saskatchewan, and Ontario. Jill Dunlop said that Ontario's Minister of Emergency Preparedness, Jill Dunlop stated on X, "In response the the significant threat of wildland fires in the north of Ontario, the Province has issued a formal request for assistance to the Government of Canada. We are prepared to expedite deployment of federal resources as support to evacuations." She said that the Canadian Armed Forces were among those who would be able to help. In prepared remarks, Prime Minister Mark Carney stated that the federal and provincial governments are in constant communication and will provide assistance as required. In recent years, wildfires have mostly affected'remote indigenous community. Indigenous Services Canada reported that?1,600 people had been evacuated due to fires in First Nations communities this season as of July 15th. According to the government, there were 859 fires burning across the country as of Thursday. Of those, 113 were considered uncontrollable. So far, 5.89 million acres (2.384 million hectares) of land have been burned. Carney said on Wednesday that the wildfire situation had gotten worse in the past three weeks, especially in Northwestern Ontario. "Thousands of people were forced to leave their homes, not knowing whether they would survive." Canadian National Railway announced that employees and residents in the town of Armstrong had been evacuated Monday night following a viral video posted on'social media showing a CN train engulfed in fire. CN announced that it has suspended rail operations in the area of Armstrong, which is more than 500 km (310 miles), north of Toronto. This was done as a precaution because wildfires were raging. Fury Gold Mines, based in Vancouver, announced on Wednesday that they had temporarily suspended exploration and drill at their Eau Claire project located in northern Quebec. This was after the company evacuated all its personnel because of a forest fire nearby. The Australian-listed 'Green Technology Metals', which focuses primarily on lithium exploration, operates a mine near Armstrong. Green Technology Metals did not reply to an email asking if it evacuated staff. The majority of gold mines in northern Ontario are located away from the current fires.
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U.S. networks are faced with a dilemma about whether or not to broadcast Trump's speech on election security
U.S. TV networks are considering whether or not to broadcast a planned address by President Donald Trump on Thursday, which is scheduled to be centered around election security. This comes four months before the crucial midterm elections. Most of these speeches have been broadcast on networks because they are deemed to be 'information of public interest. Reports on Wednesday said that the White House is considering using the speech as a way to reveal sensitive intelligence about China's ability or intention to interfere with the 2020 U.S. elections. However, some Trump officials are concerned this could lead to misleading information. Trump has spent many years spreading doubts about the outcome of elections, falsely claiming that his loss to Democrat Joe Biden in 2020 was rigged. He also said without any evidence that voting machines were vulnerable to manipulation, and that non-citizens were voting in large numbers. Some Democrats, such as U.S. Rep. Alexandria Ocasio Cortez, have asked networks to not air the speech. They claim that Trump will likely repeat false claims. The three major U.S. television networks -- ABC, CBS and NBC - did not answer questions regarding whether or not they would be broadcasting the speech live. CNN and Fox News did not reply to a comment request. The refusal to broadcast the speech could anger an administration which has already put unprecedented pressure on major broadcast networks. Walt Disney's ABC faces two pending Federal Communications Commission inquiries, one of which examines whether the daytime talk show 'The View' violated equal time rules by interviewing Democratic Senate candidates in Texas. Trump has attacked NBC, and Comcast (which he calls "Concast"), repeatedly. He stormed out last month of an interview with NBC's political reporter Kristen Welker, after calling it "a one-sided crooked channel." Comcast announced last month plans to split NBCUniversal into two publicly-traded companies via a spinoff. Analysts said that the move would make NBCUniversal a desirable takeover target. CBS's?takeover of Paramount by David Ellison - whose billionaire dad Larry is a Trump supporter - has?roiled its newsroom, and led to the departure of several senior staffers from "60 Minutes". The network denied allegations that political influence was involved in the editorial decisions. Ellison now awaits FCC approval of Paramount's purchase of Warner Bros. Discovery could allow him to control CNN, the network Trump has long criticised for its unfair coverage. Last month, the U.S. Justice Department Antitrust Division approved?the deal. Fox News is a conservative cable news network owned by Rupert Murdoch. They usually carry all of Trump's speech, but they may be wary about this one. The network was ordered to pay $787 million in 2023 to settle a lawsuit for defamation over false claims it made about the 2020 elections. (Reporting Helen Coster, Additional reporting Edmund Lee, Editing Alistair Bell).
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Ireland passes law lifting Dublin Airport passenger limit
Ireland's Transport Minister lifted a passenger cap at Dublin Airport on Thursday after President Catherine Connolly signed a new law. The government is under pressure to lift its 32 million passenger limit per year, which has been suspended in anticipation of a ruling from the European Court. Last year, the airport exceeded its limit by four million passengers. Irish Transport Minister Darragh O'Brien welcomed Connolly's signing of the law and expressed his hope that an order would be issued to "amend or repeal the cap" as soon as possible after an environmental assessment. He said, "I intend to immediately begin the relevant provisions of the Act." This will now enable the sustainable development at Dublin Airport. O'Brien said in May that his hope was for the bill to become law by July. Planners in 2007 set a limit of 32 million passengers for Ireland's major airport, in part to prevent local traffic congestion. Local residents are in favor of limiting the number of passengers at the airport. The airport carries 80% or more of the country's air traffic. Environmental groups warned that its removal could weaken the oversight of an industry with high emissions. Irish airline chiefs have warned that the measure would harm the economy of the country. U.S. Airlines have also criticized the 'cap. Their representative body, as well as 'Irish carriers', warned that the U.S. Government could retaliate by restricting transatlantic flights out of Dublin if it is not scrapped quickly. Conor Humphries wrote the article, Sam Tabahriti edited it.
Oil companies compete for projects that will boost Venezuelan production quickly. A real grind is in store
A rig that drills wells in shallow water completed its long journey from China to Venezuela’s oil-producing Lake Maracaibo region. Residents and workers were excited to see the passage of a big old rig called Alula, which passed just inches below a bridge that connects Maracaibo with the oilfields on the eastern shore of Lake Maracaibo. This was due to U.S. sanctioned.
The rig struck an oil pipeline while it was passing through the lake, and also over the metallic spaghetti that was 20,000 kilometers worth of pipes below the water. The oil leaked out for several months before repairs were made. It was only last year that the rig was installed in the polluted water. Since then, the crude production has increased only modestly.
The Alula's story is a cautionary one for foreign energy companies, such as U.S. major oil company Chevron, that want to expand quickly in Venezuela and undertake short-term projects to boost the country's output of oil. Every step forward brings with it a whole new set of challenges.
Maurel&Prom, ENI of Italy, Spain's Repsol and China National Petroleum Corp. are also foreign companies that have a foothold in the country.
Donald Trump has asked American companies to invest $100 billion in rebuilding the oil industry, which was neglected for 20 years by socialist presidents Hugo Chavez & Nicolas Maduro. Washington has eased sanctions since its early January military invasion to snatch Maduro by issuing a few general licenses to energy companies that allow them to invest, export, and import oil and gas in the OPEC-member.
Two executives of companies with assets in the country said that early expansion could result in a crude oil output increase by as much as half a million barrels per day (bpd). The current production is 1,000,000 bpd.
The U.S. Secretary for Energy Chris Wright stated this month that he expected to receive a positive response from Venezuela.
"dramatic increase"
Venezuelan production is expected to increase in the next few months.
Houston, the U.S. capital for oil, and Venezuela's oil regions are a buzz, mobilizing to take part in the largest repair job ever undertaken by the energy sector. This is a massive undertaking comparable to the work undertaken to increase Iraq's oil production following the second Gulf War, or to restore the Kuwaiti oilfields that Saddam Hussein had set ablaze. According to a half dozen industry workers and oil employees who have experience in Venezuela, as well as executives planning to move there, along with numerous industry experts, analysts and other industry professionals interviewed for this article, the first phase of the project in Venezuela will involve relatively simple projects that can increase oil production quickly. These include refurbishing dilapidated oil wells, upgrading crude oil upgraders which are not working at full capacity, and repairing the ports and pipelines owned by the state oil company PDVSA. Even the "easy" projects, according to the experts, are difficult, and the rest of the work will be even more challenging. A reporter touring the Lake Maracaibo region in early February saw oil industry junk. Tanks overflowing with oil, abandoned oilfields. Blackened shorelines. And long lines of cars waiting to buy gasoline near storage terminals. The squalor and soiled shorelines, abandoned oilfields, tanks overflowing with crude, and long lines of vehicles waiting to buy gasoline near storage terminals or PDVSA operational sites were visible reminders that much work remains, even for what could be considered the "low-hanging fruits" in a region which is home to Venezuela’s oldest production facilities, as well as having the second largest output capacity.
The first step that companies anticipate is to implement projects such as the one planned by China Concord Resources Corp., which brought the Alula drilling rig to Venezuela in 2017. The company wants to increase the combined light and heavy oil output from two fields from 16,000 bpd to 60,000 bpd this year through a $1billion program. This would require refurbishing up to 875 inactive rigs before drilling new wells. A source with the project stated that the company is currently addressing many unplanned problems, including insufficient gas supply to maintain pressure on wells and the loss of technical data.
After Trump stated that companies from U.S. political rivals - China and Russia - are no longer welcomed in Venezuela, it is not clear if the project will go ahead. Companies from these countries were the only ones willing to work in Venezuela under sanctions.
Chevron, on the other hand, has been the sole U.S. oil major to produce crude in the United States for many years and is now in a prime position?to make early gains. The company is in a race with its rivals for supplies of the light crude produced by China Concord.
Energy companies in Venezuela are able to make a profit by importing fuels and light oil that can be used to dilute Venezuelan tar-like crude oil. The country's vast reserves of extra-heavy crude oil cannot be exported or transported without expensive upgraders and diluents. Foreign oil companies are more interested in producing barrels that are relatively simple to produce than those produced by PDVSA, who has ignored these regions for decades to focus on the Orinoco Belt and its heavy-oil wealth. Former employee of the Venezuela operations said that oil from Maracaibo would be more cost-effective for Chevron, as it doesn't need to be treated prior to export. This is especially true when crude prices are low. The former employee stated that other options included reopening wells closed due to lack of power or specialized equipment, reconditioning wells with low output to increase production, and drilling new ones.
Chevron stated that it has "been a part in Venezuela's history and remains committed to work in partnership for the future of Venezuela." It also added that it welcomed recent U.S. licensing and legal reforms.
PDVSA and the oil ministry of Venezuela did not respond to requests for comments. China Concord was not immediately available for comment.
HEAVIER ORINOCO CRUDDE Oil companies with stakes in projects and oil contracts across the country are vying for access to specialized machinery already present. There are up to 14 drilling rigs that have been in storage for years in Venezuela and are owned by Houston-headquartered SLB, one of the top global oil service providers, three sources with knowledge of its assets said. SLB is the main service provider for Chevron, since 2024 when it started its latest drilling program in Venezuela as part of an earlier U.S. wide license. SLB, like the U.S. giant, has a long history in Venezuela. SLB's rigs in Venezuela were used for PDVSA-related projects before the U.S. sanctions of 2019. U.S. companies, and those who adhered to U.S. sanctioned, could no longer operate rigs in Venezuela.
SLB says it has operational facilities, staff and equipment in Venezuela and is "in the early stages of collaboration" on next steps with customers. We are confident we can quickly ramp up operations under the right conditions.
The vast Orinoco Belt is in dire need of drilling and workover rigs, as the output usually involves clusters of wells. Diluents for blending with extra-heavy crude may be needed more urgently to reduce oil inventories that have accumulated over the past few months and to boost exports. Chevron, along with other PDVSA partners, is focused on securing the drilling equipment and access to crude upgradingrs as well as light oil and naphtha for blending. The U.S. firm would also have to renovate PDVSA-owned infrastructure, such as the Bajo Grande Export Terminal. It would also have to dredge a shipping channel on Lake Maracaibo, which hasn't been done for years due to sanctions that prevented companies from hiring dredges. Chevron would need to overhaul its Petropiar Project's upgrader in order to increase production at Orinoco. This converts the extra-heavy crude into exportable grades. Two Chevron sources also said that the facility hasn't been fully repaired in years.
Five projects, out of more than 40 joint ventures between PDVSA, foreign and local companies and other oil companies in Venezuela, have upgraded or blended the Orinoco extra heavy crude. This region holds over 80% of Venezuela's estimated 303 billion barrels worth of crude reserves. Without upgraders, companies would be forced to import expensive diluents in order to export barrels. This would lower their profits and also present logistical problems due to Venezuelan limitations on discharging and transporting them.
North American Blue Energy Partners has been working on repairing a PDVSA rig for the Orinoco Petrocedeno Project for several months. The company has close ties with American asphalt magnate Harry Sargeant. Two sources said that completing the repairs would allow the equipment to be brought online quickly.
North American Blue Energy Partners didn't immediately respond to a comment request.
Thomas O'Donnell is an independent energy analyst who says that many Venezuelan oilfields which are written off as being depleted still have significant production capacity.
"Many of the plants that were said to have died or been depleted are not actually depleted." He said that PDVSA lacked the skills or equipment to continue running these fields and cherry-picked them.
O'Donnell pointed out mature fields, where seismic surveys using 2D technology were last conducted in the early 1990s and the late 2000s. He said that companies could make substantial gains if they brought up-to-standard fields which were already in operation. This could result in "maybe a 50 or 100 percent increase over what is coming out currently."
LEGAL RISK REMAIN
A Venezuelan oil company executive, who spoke on the condition of anonymity and has worked there, stated that the country's overall production could reach 1.5 million bpd in less than a calendar year, if oil producers obtain the necessary licenses.
Venezuelan oilfields, he said, are "very forgiving. You can increase production a great deal," referring the abundant reserves. The executive did add that there are still supply chain problems and security issues, especially around Maracaibo.
Executives also pointed out that there was still legal uncertainty, since it is not possible to guarantee that agreements made now will be honored by future governments. Venezuela's National Assembly approved in January a comprehensive oil reform that gave autonomy to foreign companies. However, some new contract models, which had been initially promoted by Maduro without much success, are still seen as risky by potential investors. The legitimacy of the passed reform is also questioned from a constitutional perspective. The U.S. and other countries have refused to recognize the results of the rigged parliamentary and president elections in the past.
Investors should also be aware of the possibility that future U.S. government may ease pressure on Caracas and allow it to regain control over oil exports and revenues.
According to a worker who has worked in the area for 22 years, the amount of investment needed will be huge. The worker stated that many companies have the ability to fix the problem, but the willingness to do so will depend on how they react once they see the disaster.
(source: Reuters)