BP to develop offshore gasfield in Venezuela with firms linked to Trump administration

<p>Move will be one of first large-scale foreign investments in country since US ousted leader Nicolás Maduro in January</p><p>BP has answered Donald Trump’s call for oil companies to help rebuild Venezuela’s fossil fuel industry with new plans to develop a large offshore gasfield.</p><p>BP will partner with two oil firms with close links to the Trump administration to develop the second phase of the Loran gasfield, in one of the first large-scale foreign investments in Venezuela since the <a href="https://www.theguardian.com/world/2026/jan/03/explosions-reported-venezuela-caracas">US ousted its leader Nicolás Maduro</a> in January.</p> <a href="https://www.theguardian.com/business/2026/aug/14/bp-offshore-gasfield-venezuela-donald-trump">Continue reading...</a>