BP to Develop Offshore Gasfield in Venezuela with Firms Linked to Trump Administration The news that British Petroleum (BP) is partnering with firms tied to the Trump administration to develop an offshore gasfield in Venezuela has sparked a mix of reactions, from optimism among those eager to see the country's oil industry revived to skepticism about the motives behind this sudden interest.
The deal marks one of the first major foreign investments in Venezuela since the US ousted President Nicolás Maduro in January. BP's involvement in Venezuela is driven by a desire to tap into new markets and resources.
Meg O'Neill, the company's chief executive, noted that BP has "a longstanding presence in the region and deep experience developing major gas resources.