Petrocedeño interests transferred to PdVSA

Equinor and TotalEnergies are to transfer their respective 9.67% and 30.32% interests in the Petrocedeño project onshore Venezuela to Corporación Venezolana del Petróleo (CVP), a PdVSA company, making the state-owned company the project’s sole owner.

Petrocedeño upgrades extra-heavy crude oil into lighter crude from the Orinoco Belt area onshore Venezuela.