Oil Majors Are Abandoning Venezuela
Chevron said on Wednesday that it evacuated executives from Venezuela following the imprisonment of two of its workers last week. The assets of Chevron are increasingly in peril, and the Continue Reading
PDVSA Bond Holders Prepare For Interest Payment
A group of investors holding part of a secured US$2.5-billion bond issued by Venezuela’s PDVSA and maturing in 2020 are organizing ahead of an interest payment due to be made Continue Reading
Chevron evacuates Venezuela executives following staff arrests
(Reuters) – U.S. oil major Chevron Corp has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state-owned oil company PDVSA, according to Continue Reading
PDVSA ordered to pay Conoco $2 billion for breaking Venezuela contracts: arbitration
An international arbitration court has ordered Venezuela’s state-run oil company PDVSA to pay ConocoPhillips $2.04 billion for early dissolution of two joint ventures for producing oil in the OPEC-member country, Continue Reading
Venezuelan schools emptying as Chavez legacy under threat
It is mid-morning on a weekday yet all that can be heard in the once-bustling corridors of the Orlando Garcia state primary school is the swish of palm trees outside Continue Reading
Colombia’s Migrant Crisis Worsens With Venezuela Nearing ‘Implosion’
The flow of migrants fleeing Venezuela’s collapsing economy is increasing every day, putting a strain on Colombia’s health and education systems and its jobs market, Colombian President Juan Manuel Santos Continue Reading
Shell holds tight to shale basin in Argentina
Royal Dutch Shell sheds assets in Argentina, including it’s retail operation, but will maintain it’s grip on one of the more promising shale basins in the world. Photo courtesy of Continue Reading
Exclusive: Arrested Chevron workers could face treason charge in Venezuela – sources
Two Chevron Corp. employees detained in Venezuela last week could be charged with treason for refusing to sign a parts contract for a joint venture with state-owned oil company PDVSA, Continue Reading
Halliburton remains committed to Venezuela
Oilfield services company Halliburton said it was still committed to the market in Venezuela, even as its Latin American segment saw quarterly revenue decline. Halliburton recorded revenue of $457 million Continue Reading
Brazil Poised For Historic Oil Boom
After being caught up in major corruption scandals and suffering from what some have claimed was its worst economic downturn in 100-years, Brazil has pulled itself back from the brink. Continue Reading