Qatari

Caracas, August 14, 2026 (venezuelanalysis.com) – The Venezuelan government has granted an offshore natural gas concession to a consortium of British multinational BP, the United Arab Emirates’ XRG, and Qatar’s UCC.

Acting President Delcy Rodríguez held an agreement-signing ceremony and press conference on Thursday alongside executives of the three corporations on Wednesday.

“I salute this historical moment and thank you for setting up this consortium to achieve such an important agreement for Venezuela and the global energy community,” she said. 

Rodríguez emphasized Caracas’ decision to prioritize natural gas ventures to supply the domestic market and boost exports. However, state energy company PDVSA is not a stakeholder in the project.

The multinational consortium was granted rights to drill in the so-called second phase of the Loran field, in the Deltana Platform off Venezuela’s Atlantic coast, with reserves estimated at 4 trillion cubic feet (Tcf). Loran shares its deposits with the Manatee field in the territorial waters of Trinidad and Tobago. They hold 7.3 and 2.7 Tcf of natural gas, respectively.

The first phase of Loran’s exploration was granted to Shell, which is also operating on the Manatee side and expects to produce 4.4 Tcf from the two fields. Both phases are to be developed concurrently. Shell has additionally secured a concession to run the 4 Tcf Dragon field.

“The award of the Loran Phase 2 license […] builds on the strong collaboration we have established with the government of Venezuela and our partners and reflects the progress we have made together,” BP CEO Meg O’Neill stated during the televised event.

The London-headquartered multinational has aggressively pursued Venezuela natural gas opportunities. BP is also set to operate the 1 Tcf Cocuina-Manakin field alongside Trinidad and Tobago’s National Gas Company (NGC). BP recently sold 20 percent of its stake in the Cocuina-Manakin project to the NGC.

BP, Shell, and NGC hold respective 45, 45, and 10 percent shares in Atlantic LNG, a major liquefied natural gas project in Trinidad that is expected to process most of the output from the ventures in Venezuelan waters.

On Thursday, BP also signed a memorandum of understanding (MoU) with Venezuelan authorities to explore opportunities in the Carúpano East block, which belongs to the Mariscal Sucre offshore natural gas project.

XRG, the international arm of the UAE’s state-owned Abu Dhabi National Oil Company (ADNOC), has been expanding overseas investments and recently secured a stake in Argentina’s Vaca Muerta development. 

For its part, the UCC is a privately owned Qatari conglomerate with close ties to the royal family. Originally focused on construction and infrastructure, it has gradually expanded its portfolio to energy and mining ventures. The arrival of Qatari and Emirati firms in the South American country reflects Venezuela’s geopolitical realignment since the January 3 US military strikes and kidnapping of President Maduro. During the previous two decades, the Chávez and Maduro governments pursued an eastward-looking policy, deepening ties with Iran, Russia, and China in energy and other strategic sectors while maintaining a predominant state role.

In recent months, energy majors have flocked to Venezuela to strike new deals or renew existing ones following a pro-business overhaul to hydrocarbons legislation. A reformed Hydrocarbon Law slashed royalties and taxes, granted foreign partners control over operations and sales, and subordinated contracts to international arbitration bodies.

Despite the opening to transnational corporations, Venezuela’s oil output has stagnated since May. The latest OPEC monthly report placed the Caribbean nation’s July production at 1.117 million bpd, roughly one percent above the June figure, according to secondary sources.

PDVSA reported an output of 1.200 million bpd, up from 1.187 million bpd the prior month. Direct and secondary measurements have historically differed over disagreements on the inclusion of condensates and natural gas liquids.

Edited by Lucas Koerner in Philadelphia, USA.

WASHINGTON — President Trump on Wednesday took his maiden voyage on a new Air Force One — a retrofitted Boeing 747 worth $400 million gifted by Qatar that embeds his personality more deeply into the institution of the American presidency.

Gone is the trademark light blue hull that helped Air Force One blend into the sky. The refurbished jet is painted to Trump’s preferred color scheme of a navy blue belly and red and gold stripes. It has the luxury features that the president believes a commander-in-chief’s entourage should have — plush carpets, lie-flat seats, wood paneling and a presidential seal on the seat belts, according to reported tours of the plane.

Trump told reporters that he was proud of the luxurious plane. “You can do two things: You can low-key it, or you can show it,” he said.

Reporters are generally not permitted to take photos on the plane unless Trump is present. But on Wednesday, Trump administration staffers posted images of the plane’s interior on social media.

White House communications director Steven Cheung posted a photo of aides gathered around a circular table that had off-white place mats and leather captain’s chairs. Monica Crowley, the chief of U.S. protocol, posted a picture of herself perched on a leather couch between a pair of Air Force One throw pillows. Mounted on the wall behind her was a framed photo of the Thomas Jefferson Memorial.

The jet carried Trump to North Dakota to see the Theodore Roosevelt Presidential Library, its first official visitor ahead of its opening on the nation’s 250th anniversary.

The gift from the Middle Eastern power raised ethical concerns, but Trump saw the plane as a necessary replacement to the 35-year-old planes that had previously ferried him as president.

“This is a gift from a country that has treated us very well,” Trump said.

The new jet will only temporarily be in the nation’s service, as Boeing is expected to deliver in 2028 long-delayed planes that will permanently serve as Air Force One. Trump, a Republican, has said in the past that the Qatar plane would end up in a presidential library.

The Air Force has said that it did little to change the cabin layout of the plane and that it spent less than $400 million on security upgrades.

Nikhinson and Boak write for the Associated Press.

JOINT BASE ANDREWS, Md. — President Trump on Friday showed off the new Air Force One, a formerly Qatari-owned — and much debated — jumbo jet that has been converted into the official U.S. presidential aircraft.

The new plane — gifted from the Qatari government, raising a host of legal, ethical and security questions — will take on a new look, eschewing the Kennedy-era robin’s egg blue exterior in favor of white on the top half, its underbelly navy blue with a red stripe above it.

“This plane was transformed into a flying White House at a level of luxury that nobody has ever seen before,” Trump said from inside the massive Joint Base Andrews hangar, as a couple of hundred assembled Air Force personnel looked on. He spoke after stepping off the new plane in a dramatic flourish, as his signature tune “God Bless the USA” played.

He confirmed that he would be taking the new jet to the North Atlantic Treaty Organization summit in Ankara, Turkey, next month and indicated that he would be returning to China “at some point,” presumably a reference to the Asia-Pacific Economic Cooperation summit that China is hosting in November. His return from the Group of 7 summit in France this week was the last planned trip aboard the old Air Force One, he said.

“Now, when we land at airports in London and in Germany and different places, nobody tops this one, and that’s the way we have to have it for our country,” Trump said, noting that the colors and the design were to “my taste, I will say.”

He added that the new Air Force One will do a flyover during the July 4 celebrations next month.

The gift from Qatar is serving as a so-called bridge aircraft to carry the president until new planes ordered directly from Boeing arrive. That is currently slated for 2028.

The administration formally accepted a luxury Boeing 747 jet from Qatar last year to be used as the presidential airplane, despite questions about security and the ethics and legality of accepting such an expensive gift from a foreign government. Trump has claimed in the past that he would not fly around in the Qatari jet once he leaves office and said it would instead be donated to a future presidential library.

Trump on Friday said the U.S. was in a “little bit of a logjam” as it awaited the delivery of the new jets directly from Boeing, which had originally been scheduled for 2024 but have been delayed. He recalled asking the emir of Qatar for the use of one of their planes.

“See, a normal president wouldn’t do this. A normal president wants to stay away from aircraft,” Trump said Friday. “But our country has to be represented properly.”

Members of Congress and others have questioned the cost and effort that would be needed to make security modifications to an aircraft from a foreign government.

The Air Force said in a news release Friday that any plane deemed Air Force One “must meet rigorous security requirements” and that the Qatari plane “was modified under a disciplined engineering approach that prioritized these exact core capabilities above all else.” The Air Force also said “much of the previous head of state interior layout” of the plane was kept intact.

The Air Force has said in the past that security modifications to the jet would cost less than $400 million.

Trump’s efforts to reimagine the presidential airplane date back to his first administration, when he directed that an incoming fleet of new jets would adopt a color scheme that was nearly identical to that of his personal airplane. Then-President Biden reversed the decision in March 2023 as an Air Force review suggested that the darker colors could increase costs and delay delivery of the new jets, but once Trump returned to office, he returned to his desired colors for the plane.

Other government jets that carry other top administration officials will use a similar red, white and navy color scheme, the Air Force said earlier this year.

An Air Force spokesperson, who spoke on condition of anonymity to discuss sensitive plans, told the Associated Press that the two current planes, known as VC-25As, will not be retiring. Instead, they will remain in the fleet until the new Boeing planes, referred to as VC-25Bs, come into service, the spokesperson said.

It is unclear how the older jets will be used but the spokesperson said that both the Qatari jet as well as the VC-25As will be available for use and “the Presidential Airlift Group will select the appropriate aircraft for each mission based on operational requirements.”

Kim and Ceneta write for the Associated Press. Kim reported from Washington. AP writer Konstantin Toropin contributed to this report from Washington.