Venezuela removed eight tonnes of gold from the central bank’s vaults last week, and the cash-strapped socialist state is expected to sell the bullion abroad as it seeks to raise Continue Reading
Two of Venezuela’s four crude oil upgraders, which are necessary to process the country’s extra-heavy crude into exportable grades, have restarted after halting activities due to blackouts in March, according Continue Reading
Argentina’s state-led YPF is preparing a shipment of light crude from Vaca Muerta, a trend the federal government expects to gain as production increases from the shale play, Argentinian Energy Continue Reading
Venezuela’s government has signed an agreement with Russia under which the iron, steel, mining and agriculture industries will receive Russian investment and other participation, Venezuela’s official press said Tuesday. The Continue Reading
Recent hiccups for Brazilian oil supply call into question the growth projections for the country, with implications for the global oil market. Brazil’s oil production slipped by 65,000 bpd in Continue Reading
New US sanctions on ships and freight companies that transport Venezuelan oil to Cuba will exacerbate the island’s chronic fuel shortages and power outages, two Caribbean diplomats in Havana tell Continue Reading
Venezuelan PDVSA expects a sharp decline in oil production this month with the four upgraders operating in the country running a lot lower than capacity, Reuters reports citing company documents Continue Reading
The US will sanction 34 vessels owned or operated by PDVSA and two companies that move Venezuelan crude to Cuba, Vice President Mike Pence said Friday. Receive daily email alerts, Continue Reading
Vice President Mike Pence announced that the United States will add 34 PDVSA owned or operated vessels to the sanctions list on Friday, according to Reuters. The announcement came during Continue Reading
Washington — Attempts by Venezuela’s creditors to use the US court system to auction off Citgo assets for repayment of old debts should be blocked, lawyers for the administration of Continue Reading
Power failures that plunged Venezuela into darkness for much of March also briefly slashed the country’s crude production by half, according to people familiar with the situation. Rolling blackouts across Continue Reading
Photo: Orinoco basin map, Venezuela. CARACAS (Bloomberg) — Rolling blackouts across much of the country that started on March 7 paralyzed most of the country’s oil wells and rigs, which Continue Reading
FILE PHOTO: U.S. Vice President Mike Pence listens as President Donald Trump meets with Fabiana Rosales, wife of Venezuelan opposition leader Juan Guaido, in the Oval Office at the White Continue Reading
The Supreme Court of Canada on Thursday dismissed claims attempting to force Chevron Corp’s Canadian unit to pay a $9.5 billion judgment handed down in Ecuador against the U.S. oil Continue Reading
Venezuelan state-owned oil company PDVSA expects its crucial crude upgraders to operate well below capacity this month, according to industry sources and documents seen by Reuters, as U.S. sanctions and Continue Reading
Jakeline Moncada had faith that her household reserves would hold out until Venezuela’s water service was restored. But two nationwide blackouts and now the rationing of electricity have kept the Continue Reading
Chevron Canada has emerged victorious from a bitter battle over a decades-old court case in which thousands of Ecuadorian residents collectively sued Chevron for alleged water and soil contamination. The Continue Reading
(Reuters) – Backstory is a series of reports showing how Reuters journalists work and the standards under which they operate. Locals gather at a street food cart during a blackout Continue Reading
Exxon Mobil Corp and Colombia’s state-run oil company Ecopetrol SA have each signed joint contracts with Spain’s Repsol SA to explore for oil in offshore blocks in the Caribbean, the Continue Reading
Venezuela exported a little over 980,000 bpd on average in March despite a string of severe blackouts, Reuters reported , citing documents from state oil company PDVSA and its own Continue Reading
Venezuela’s state-run energy company, PDVSA, kept oil exports near 1 million barrels per day in March despite U.S. sanctions and power outages that crippled its main export terminal, according to Continue Reading
Washington — Global oil prices are not deterring the White House from considering additional sanctions against Venezuela, US Vice President Mike Pence said Tuesday. Receive daily email alerts, subscriber notes Continue Reading
Venezuela’s president Nicolas Maduro announced 30 days of electricity rationing after a third blackout hit the struggling South American country. The Associated Press quotes Maduro as saying on Sunday the Continue Reading
U.S. President Donald Trump is considering imposing sanctions on companies from other countries that do business with Venezuela to cut off revenues to President Nicolas Maduro, Trump’s national security adviser Continue Reading
The White House on Friday warned Russia and other countries backing President Nicolas Maduro against sending troops and military equipment to Venezuela, saying the United States would view such actions Continue Reading
The U.S. administration is trying to pressure foreign commodity traders and refiners to suspend their trades with Venezuelan oil in the latest push against the Maduro government. The information comes Continue Reading
Walking for hours, making oil lamps, bearing water. For Venezuelans today, suffering under a new nationwide blackout that has lasted days, it’s like being thrown back to life centuries ago. Continue Reading
The Red Cross said it had received Venezuelan government approval to begin a major medical aid program in a bid to ease Latin America’s worst humanitarian crisis ever. President Nicolás Continue Reading
After two Russian military planes landed near Caracas this month, the Trump administration issued stark warnings over President Nicolás Maduro’s ties to the Kremlin. But a vessel that arrived in Continue Reading
Venezuela’s largest oil export terminal is has resumed operations and is now operating at 100 percent capacity after a blackout took it offline earlier in the week, according to Reuters Continue Reading
Venezuela’s main oil export terminal of Jose has restarted operations after a blackout earlier this week paralyzed crude shipments, the lifeblood of the OPEC nation’s economy, according to three sources Continue Reading
Russian Energy Minister Alexander Novak said on Friday he planned to discuss with his Venezuelan counterpart ways to increase oil exports from Venezuela. He did not give any further details. Continue Reading
The United States has instructed oil trading houses and refiners around the world to further cut dealings with Venezuela or face sanctions themselves, even if the trades are not prohibited Continue Reading
Chinese refiners yet to fully secure Venezuelan crude supply for Q2 Basrah spot differentials rally amid tight heavy crude supply Independent refiners also eye heavy sour Canadian grades Singapore — Continue Reading
Citgo Petroleum, the U.S.-based unit of Venezuelan state-run oil firm PDVSA, said on Thursday it raised $1.2 billion through a five-year term loan to cover operating expenses and to refinance Continue Reading
(Reuters) – The U.S. Environmental Protection Agency granted an additional 2017 small refinery waiver from the nation’s biofuel laws, bringing the tally to 35, the agency disclosed on Thursday. The Continue Reading
Venezuela’s largest oil-exporting terminal Jose is not working after a power outage that happened on Monday. Reuters reports the port has yet to resume normal operations, noting the last vessel Continue Reading
Activity at Venezuela’s main oil port of Jose, operated by state-run company PDVSA, was halted following a massive power blackout on Monday, according to two oil industry workers and a Continue Reading
Meeting in Brazil this week, auto executives from Toyota to GM talked up traditional fuel sources like ethanol, natural gas, and diesel, underlining how South America’s protected auto market is Continue Reading
Venezuela is once again finding itself in the dark in another massive power outage, according to Aljazeera , weighing further on the South American country that is struggling to maintain Continue Reading
Two Russian planes with 100 troops landed in Venezuela this weekend, Reuters reports , citing media reports and flight tracking websites. The move is the latest signal of strengthening ties Continue Reading
Two Russian air force planes landed at Venezuela’s main airport on Saturday carrying a Russian defense official and nearly 100 troops, according to media reports, amid strengthening ties between Caracas Continue Reading
U.S. sanctions on Venezuela’s oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are Continue Reading
India’s Reliance Industries, operator of the world’s largest oil refining complex, on Friday, said in a statement it was not breaching U.S. sanctions against Venezuela. The company said that its Continue Reading
Venezuelan state-owned PDVSA is seeking to extend the contracts of three petroleum tankers, and hire five additional tankers, to compensate for the loss of vessels due to US sanctions, according Continue Reading
The opposition-led National Assembly of Venezuela this week voted to suspend crude oil shipments to Cuba after its president, Juan Guaido, slammed these exports as “funding dark purposes” in a Continue Reading
U.S. Republican Senators Ted Cruz and John Cornyn on Thursday pressed Venezuelan President Nicolas Maduro to release six executives from Houston-based oil company Citgo Petroleum that have been in jail Continue Reading
“The situation is critical,” says Nancy Rodríguez, who runs a produce stand at the Quinta Crespo market in Caracas. (Mary Beth Sheridan/The Washington Post) CARACAS, Venezuela — The lights are Continue Reading
Citigroup Inc plans to sell several tons of gold placed as collateral by Venezuela’s central bank on a $1.6 billion loan after the deadline for repurchasing them expired this month, Continue Reading
Colombia has shelved two environmental licensing requests made by oil companies ConocoPhillips and Canacol Energy Ltd for fracking projects in northern Cesar province, two sources with knowledge of the matter Continue Reading
