-- British energy major Shell and Trinidad and Tobago's National Gas Company are nearing an agreement to credit a $1 billion investment by Venezuela's state-run oil firm in a gas field, which the three want to jointly develop, Reuters reports citing four people close to the discussions.

-- The move could accelerate development of the offshore field, which has long been stalled due to a U.S. demand that the gas project exclude payments to Venezuela or its state companies, according to Reuters.

-- Shell didn't immediately reply to a request for comment.

Full story: http://tinyurl.com/t3bsmzbk

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

September 05, 2023 08:17 ET (12:17 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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