Repsol, a Spanish company, regained control of oil assets in Venezuela.

Spanish energy giant Repsol announced on the 16th that it has reached an agreement with the Venezuelan government to regain control of the company's oil assets in Venezuela and is prepared to significantly increase production in the coming years. Repsol said in a statement that it plans to increase its total oil production in Venezuela by 50% within 12 months, and if "necessary conditions are met," it could double production in three years. Its current daily production is around 45,000 barrels.