Japan’s Inpex sells Venezuela oil and gas assets to local group -sources By Reuters – Investing.com

Japan’s Inpex sells Venezuela oil and gas assets to local group -sources By Reuters – Investing.com

By Luc Cohen

(Reuters) -Japanese oil company Inpex Corp sold two Venezuelan oil and gas assets to Caracas-based Sucre Energy Group, three people familiar with the transaction said, as multinational firms retreat from the crisis-stricken OPEC nation.

Sucre, a privately-held exploration and production firm focusing on improving mature fields in Latin America, purchased Inpex's 70% stake in the Gas Guarico partnership with state oil company PDVSA, as well as its 30% stake in the Petroguarico oil joint venture, said the people, who spoke on the condition of anonymity because the deal was not yet public.