Venezuelan troops guard Lake Maracaibo oil wells

Venezuela has deployed troops to guard hundreds of shut-in oil wells in Lake Maracaibo in anticipation of reactivating them, Argus has learned. The Venezuelan Navy's Fourth Marine Infantry Brigade, based in the Lagunillas district of Zulia state, is guarding the 1,500 mature wells, which new military oil, gas and mining company Camimpeg plans to revive in its first foray into the oil business. The project represents a significant departure for the military, and relegates state-owned oil company PdV to a supporting role. The shallow-water wells have been shut in by PdV, but have not been abandoned, the military says. More…