Venezuela’s heavy oil project reserves will be left stranded as international players divest their interest, according to GlobalData. Venezuela’s heavy oil project reserves will be left stranded as international players divest their interest. That’s what GlobalData said in a statement sent to Rigzone on Friday, which highlighted that TotalEnergies and Equinor had recently divested their respective interests in Petrocedeno to the state-owned Petróleos de Venezuela S.A (PDVSA) company. According to GlobalData, this means that due to high risks and the unstable deteriorating economy in the country, international players no longer see an upside in Venezuelan projects. GlobalData noted that with less investments supplied from the private sector, Venezuela will not be able to sustain its oil and gas industry for long, as its own cash resources are “extremely limited”. “Petrocedeno is a critical project in Venezuela’s portfolio and the largest upgrader in the country with a capacity to process […]