BP and NGC Secure License to Develop Cocuina-Manakin Gas Fields [Yahoo! Finance]
Marathon Petroleum Corporation (MPC)
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Source: Yahoo! Finance
Treasury Department, per a Reuters report. This license will allow them to negotiate and develop the Cocuina-Manakin gas fields in partnership with Venezuela, Trinidad's Energy minister Stuart Young announced on Wednesday. The new license has enabled BP and NGC to embark on a project involving an offshore reservoir containing approximately 1 trillion cubic feet (tcf) of gas reserves. This reservoir straddles the maritime boundary between Venezuela and Trinidad. Young, in a media briefing in Port of Spain, highlighted the strategic importance of this initiative and its potential to bolster Trinidad's energy supply. The authorization marks the second such license issued by the U.S. government for energy projects between Venezuela and Trinidad. In 2023, Shell plc SHEL and NGC received a similar license for the Dragon gas field in Venezuela, a project that is set to export gas to Trinidad and has recently had its license extended through October 2025. Young clarified that the terms
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MPC
Earnings
- 4/30/24 - Beat
MPC
Sec Filings
- 5/13/24 - Form 8-K
- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- MPC's page on the SEC website