Eni Deepens Venezuela Ties to Recover Debt
Italian energy company Eni has signed a new oil project deal in Venezuela to help recover more than two billion dollars in outstanding debt. The agreement on the Junin 5 project secures a key role for Eni in reviving the nation's oil sector.
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ENI SPA signed a deal on Wednesday to develop the Junin 5 heavy oil project in Venezuela, bolstering its bid to recover $2.3 billion in outstanding debt. The move deepens Italy's footprint in South America amid broader U.S.-led efforts to revive the nation's energy sector.
