Shell (RDS.A, RDS.B) is in negotiations with France's Maurel
& Prom for the sale of its 40% stake in Petroregional del Lago, the energy
company's joint venture with Venezuelan counterpart PDVSA, Reuters reported,
citing sources. Petroregional operates from the western state of Zulia near
Colombia, an area that has been plagued with rampant equipment theft and
near-daily power cuts. A source said that the Anglo-Dutch major has grown
frustrated by delays in receiving dividends from PDVSA. It has also opposed a
ban on minority partners independently exporting production, a move that
deprived Petroregional of much-needed income. More… 
Monday, October 15, 2018
Shell Reportedly Taps Maurel & Prom for Venezuela JV Stake Sale
Shell (RDS.A, RDS.B) is in negotiations with France's Maurel
& Prom for the sale of its 40% stake in Petroregional del Lago, the energy
company's joint venture with Venezuelan counterpart PDVSA, Reuters reported,
citing sources. Petroregional operates from the western state of Zulia near
Colombia, an area that has been plagued with rampant equipment theft and
near-daily power cuts. A source said that the Anglo-Dutch major has grown
frustrated by delays in receiving dividends from PDVSA. It has also opposed a
ban on minority partners independently exporting production, a move that
deprived Petroregional of much-needed income. More… 
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