Nabep expands Orinoco Belt operations with new equipment, self-funded

Venezuelan state-linked energy firm Nabep is expanding drilling and maintenance in the Junín block of the Orinoco Belt, funded by reinvested net income rather than external loans. This signals continued domestic investment in Venezuela's heavy-oil region despite broader sanctions and underinvestment. The move may modestly support Venezuelan oil output, but scale and timeline remain unclear.

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