Venezuela

Axios - Nobody knows exactly how much it will cost to rebuild Venezuela's broken-down oilfields, but everyone agrees it's a lot — and there's no guarantee that U.S. companies will be chomping at the bit.

"There is no quick and easy solution to the problems that accumulated over a quarter century," Raymond James analyst Pavel Molchanov said in a note.

Venezuela's crude output has dwindled to well under one million barrels per day after years of underinvestment, mismanagement, and sanctions — a far cry from around 3.5 mbd in the late 1990s.

Don't expect a huge boost unless and until there's a secure operating environment, clear fiscal regime, an easing of sanctions and more...

Researchers with Columbia University's energy think tank estimate that reaching around 2.5 mbd would take $80 billion to $90 billion of investment in oil infrastructure over six or seven years.

A new Rystad Energy analysis estimates an all-in cost of $183 billion needed to get north of 3 mbd over 15 years, split between state-owned PDVSA, national spending and private operators.  Full story