Venezuela's oil revival hopes threatened by prolonged power cuts in Cabimas

Al Jazeera English5 hours ago2:17

Business owners in Venezuela's oil hub of Cabimas are hoping renewed drilling activity will revive their fortunes, with hotelier Aníbal Landaeta investing in upgrades for expected foreign executives. Venezuelan firm Suelopetrol has reportedly proposed investing $600m in nearby fields through 2039. But residents face power cuts lasting up to 12 hours daily and wages that fail to cover basic needs, raising questions over whether any recovery can be sustained. Al Jazeera's Noris Argotte Soto reports from Cabimas, Venezuela. Subscribe to our channel: http://bit.ly/AJSubscribe Follow us on X: https://X.com/AJEnglish Find us on Facebook: https://www.facebook.com/aljazeera Check our website: http://www.aljazeera.com/ Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/ Download AJE Mobile App: https://aje.news/AJEMobile #Venezuela #Cabimas #VenezuelaOil #OilIndustry #Zulia #PowerCuts #VenezuelaEconomy #OilProduction #ElectricityCrisis #Suelopetrol #TiaJuana

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Venezuela's oil revival hopes threatened by prolonged power cuts in Cabimas | PiQ Markets