August 20, 2026 [Storage Terminals Magazine]- Hunt Oil Company has entered into a new agreement with Petróleos de Venezuela, S.A. (PDVSA) aimed at supporting the expansion of Venezuela’s oil and gas production, positioning the Dallas-based company among the first US companies to take such a step.

The agreement is intended to contribute to the revitalisation and growth of Venezuela’s hydrocarbons sector, which holds some of the world’s largest oil resources and has a workforce with extensive industry experience.

Hunter Hunt, CEO of Hunt Oil Company, said Venezuela’s skilled hydrocarbons workforce and significant petroleum resources provide a strong foundation for renewed production growth. He added that the company intends to play a constructive role in supporting the development of the country’s oil and gas sector.

As part of its approach to the partnership, Hunt Oil Company has highlighted its commitment to developing local talent through training and professional advancement. The company also said environmental protection and preservation, alongside delivering long-term benefits to host communities, will remain key priorities.

Founded in 1934 and headquartered in Dallas, Texas, Hunt Oil Company has an international operating history spanning multiple continents. The company has drilled wells on every continent except Antarctica and maintains operations across North America, South America, the Middle East and North Africa.

The agreement with PDVSA marks a new step in Hunt Oil Company’s international activities and its involvement in Venezuela’s efforts to increase oil and gas production.