Eni and Repsol Plan to Launch Venezuelan Gas Exports by 2031

Eni and Repsol are advancing plans to export Venezuelan gas by 2031, while oilfield services giant Halliburton is accelerating its operational readiness following the easing of U.S. sanctions. CEO Jeff Miller confirmed that the company's local facilities are in better condition than previously expected, prompting Halliburton to begin recruiting engineers and technicians for its potential return. This operational shift is supported by 2026 Brent price forecasts jumping to $89 per barrel, enhancing the economic viability of Venezuelan projects. Regional government revenues are expected to surge by $43 billion this year, underscoring the critical role of hydrocarbons in South American public finance. While definitive agreements with PDVSA are pending, $100 oil could unlock an additional 2.1 million bpd of supply by the mid-2030s. Analysts view the transition from facility inspections to active recruitment as a pivotal step in validating the long-term recovery of the sector.