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Shell could earn billions of dollars from new Venezuelan gas projects following Donald Trump’s ousting of Nicolás Maduro.

The British oil company wants to target the rich gas fields lying between Venezuela and the neighbouring offshore islands of Trinidad and Tobago but has faced years of delay linked to US sanctions.

Mr Trump’s intervention means a potential acceleration of the massive Dragon gas field project, which lies in Venezuelan waters. The project could generate an estimated $500m (£370m) in revenues annually for up to three decades, amounting to a multi-billion dollar opportunity.

The Dragon field holds an estimated 120 billion cubic metres of gas, or around three times as much as the UK uses in a year. Far larger deposits sit in fields nearby.

Development of the project has stalled amid wrangling with US authorities over licencing but Shell is expected to renew its focus on Venezuela following Mr Trump’s intervention.

The US president has called on oil companies to invest in the country to boost oil and gas production and improve infrastructure – though he has specifically called for US businesses to lead the way, suggesting Shell may need to seek a partner.

Ashley Kelty, of investment bank Panmure Liberum, said: “The big winners are going to be the US majors, Chevron in particular because it is already active in Venezuela.

“The European majors will get locked out of the best stuff but will get invited in afterwards because American companies will want joint ventures to spread the risk – and companies like Shell and BP will be first choice.”

Shell declined to comment.

BP also has a smaller interest in the region that may be revived. BP won an exploration and production licence for the Manakin-Cocuina field in 2024 but its US approvals were revoked by the Trump administration in April last year. BP has been lobbying for them to be reinstated.

Oil companies have so far avoided saying publicly whether they will invest in Venezuela amid uncertainty around its future. Chevron, which already operates there under government supervision, is the only global supermajor to have commented.

A spokesman said: “Chevron remains focused on the safety and wellbeing of our employees, as well as the integrity of our assets. We continue to operate in full compliance with all relevant laws and regulations.”

However, Venezuela represents a huge investment opportunity. The Latin American country sits on the world’s largest oil reserves but ranks just 20th in the world in terms of production.

While the opening up of Venezuela is a boost for Western companies, it is a disaster for Opec, the cartel of oil producing nations.

The bloc, led by Saudi Arabia, aims to control production and so ensure members get the best price for their oil, especially from western Europe, the US and China.

However, Mr Trump’s promise to ramp up Venezuelan production threatens to undermine Opec’s already-we

Excellent -Fingers crossed!

Shell could earn billions of dollars from new Venezuelan gas projects following Donald Trump’s ousting of Nicolás Maduro. The British oil company wants to target the rich gas fields lying between Venezuela and the neighbouring offshore islands of Trinidad and Tobago but has faced years of delay linked to US sanctions. - Telegraph

That's the good thing about these bulletin boards, we have some very smart people! Some of them can read - and some of them can write. Then there's the few REALLY clever people. They can both read AND write.....

James21 - Makes more sense, but the message at the top of the page says Friday..

https://www.marketindex.com.au/asx/ggp?src=search-all

@TheSnorkler - MarketIndex informs that ASX re-opens on Friday. I guess we'll all get more sleep tonight..

I struggled to get past 'nanipulation'. Sounds like something from an elder gentleman's 'specialist' website :p

I've got SILG.L in my sights now. I'm very poorly researched on silver, so this seems to make sense. Several catalysts for physical silver developing recently, not least the '9 hour charge ss battery', so despite the mid xmas/NY market weirdness I'm intending to make some space tomorrow. Miners even revising to $60 stand to be in for some substantial margin increases in the coming year.

Funny - I've just finished watching this vid, and guessed by the thread title to what the link referred :))))

Larus -Yes, that was my guess, without trying to go through the numbers.

Has anyone researched or even calculated according to our major holdings, the extent to which we are exposed to silver?

Speedy - "Shorting financial stock/ bonds will also be a good call".

Are you referring to the likes of M&G and LGEN coming under pressure? What do you see as the effect on banks, specifically HSBC and BARC, where I also have some funds parked presently?

I sincerely hope he treated himself, his family and maybe some friends to the fruits of his minor top-slice and is enjoying a holiday break from some of the less educated and intellectually-challenged f*ckwits on this BB.

@Element1 - Huh??

@holt - Hear hear! Great post. Thank-you!

@AutumnLeaves - As you have noted, Bamps' experience and expert knowledge lies in geology, not in precise execution of the English language, and as such he doesn't instinctively write his pieces with perfect grammar or deeply considered phraseology. Those members here whom possess the ability to read and write pay no mind to this and rightly focus on his considerable expertise in geology and mining operations. Conversely, there's a significant contingent here whom are demonstrably borderline illiterate and as such are liable to misinterpret or misconstrue certain comments from someone widely appreciated for their technical insight.

This cohort would do well to always bear in mind 'caveat emptor/venditor' before making investment decisions.

I for one would consider Bamps' exit from this board a significant loss and resent that he might be persuaded to quit due to the actions of a handful of sneering morons either unable or unwilling to think for themselves.

Sorry to hear your recovery is proving difficult. I remember when my mum had a hip replaced, she was pleasantly surprised at the relatively low discomfort. Having had extensive orthopaedic surgery myself over the years (mostly motorbike related) I couldn't decide whether she was being stoic or lucky... Anyway, wishing you all the best for a speedy improvement. FWIW, my personal experience is that the pain and general discomfort retreats pretty quickly at some point , that is, from being 'teeth gritting' to OK over a couple of days.

With respect to PANR, I'm with you. In for the long-run. I can handle the opportunity cost mid-term and even a total loss is not going to see me on the streets.

Seasons greetings to you and wishing you a swift and complete recovery :)

Unfortunately, my geography/geology education formally stopped post 'A' levels, but something has been bugging me. During the course of the war in Ukraine, there has been much speculation that were Ukraine able to strike and disable certain Siberian wells, causing them to be shut-off, then due to ambient temperatures (especially during winter), re-establishing flows would be somewhere between very difficult and impossible. So since the beginning of our clean-up at Duhbe-1, to what extent will the low winter temperatures affect or even impinge on both the speed and efficiency of the operation? Presumably, quite close to the surface, the production will be substantially cooled, slowing the progress of liquid HCs, but not significantly affecting the gas and condensate production - which is what we are experiencing. Are we to some extent victims of seasonal timing with this appraisal?

I'd really appreciate some expert knowledge on this!

With the recent history of POG and the state of fiat currencies, added to the significantly bolstered prospects for GGP in its own right, ironically, I see far more discussion on top-slicing than topping-up? Am I alone in contemplating adding, both by re-jigging my current ISA and then in April with respect to a part of the new allowance?

Cool! Similar, but not quite as generous ;)