Venezuela ‘Massive Opportunity’ for Oil Sector, Weatherford Says

Weatherford International Plc, one of the world’s biggest oil service providers, called Venezuela a “massive opportunity” for the industry following the US capture of the Caribbean nation’s leader, Nicolás Maduro.

“It’s the most interesting development that’s happened in our industry in a long period of time,” Weatherford Chief Executive Officer Girish Saligram told investors Tuesday at the Goldman Sachs Energy, CleanTech & Utilities Conference in Miami. “It’s a huge market.”

His comments are among the first from major oil executives expressing interest in returning to the Venezuela, which has the world’s largest crude reserves, since a US operation ...