Venezuelan intelligence agents have detained Roberto Marrero, chief of staff to opposition leader Juan Guaido, as well as opposition legislator Sergio Vergara, Guaido’s press team said on Thursday. The agents Continue Reading
India’s Reliance Industries is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar U.S.-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Continue Reading
U.S. crude imports from Venezuela dropped to zero last week, for the first time on record, preliminary data from the Energy Information Administration showed on Wednesday. Imports from Venezuela, historically Continue Reading
Venezuela has suspended crude oil exports to India, one of its key markets until very recently, Reuters reported on Tuesday, citing a statement from the energy ministry of Azerbaijan, where Continue Reading
Venezuela’s largest steelmaker Sidor shut all operations after the country’s energy blackout March 8, sources within the mill said Tuesday. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
This nation’s slums have been the backbone of the leftist government for decades, and one of few remaining bulwarks for President Nicolás Maduro. They are now turning on the embattled Continue Reading
Venezuela may divert oil originally bound for the United States to Russian oil company Rosneft or other destinations due to U.S. sanctions, Venezuelan oil minister and president of state-run oil Continue Reading
Venezuela has suspended oil exports to India, the Azeri energy ministry said in a statement following a meeting with the Venezuelan oil minister and president of state-run oil company PDVSA, Continue Reading
An oil and gas field off Guyana’s coast and owned by Tullow, Total and Eco Atlantic has about 3.9 billion barrels of oil equivalent, a third more than announced in Continue Reading
President Nicolás Maduro’s government convened an urgent meeting of 12 technicians in February 2016 at the giant El Guri hydroelectric complex after rolling blackouts had hit Venezuela. Despite the presence Continue Reading
When Venezuela’s opposition leader Juan Guaido earlier this week said he had decreed the suspension of all crude oil shipments to Cuba, he explained the move with the massive power Continue Reading
Frontline WTI futures settled at a fresh four-month high Thursday as an ongoing crisis in Venezuela exacerbated supply concerns. NYMEX April WTI settled up 35 cents at $58.61/b while ICE May Continue Reading
Until recently, Venezuela’s oil production had stabilized at about 1.2 million b/d. However, the country’s recent electricity crisis has paralyzed it for substantial periods of time. In its Oil Market Continue Reading
A nationwide power failure in crisis-stricken Venezuela could trigger “serious disruption” to the oil market, the International Energy Agency (IEA) warned on Friday, but OPEC kingpin Saudi Arabia should have Continue Reading
The U.S. special representative for Venezuela said on Friday that Venezuela’s oil exports have been dropping steadily by roughly 50,000 barrels per month and production is likely to dip below Continue Reading
US sanctions on Venezuela are driving freight rates for clean oil products heading across the Atlantic to the country to enormous premiums, according to shipping reports. The Torm Lotte, a Continue Reading
Fires within Venezuela’s heavily-fortified El Guri hydroelectric complex could have triggered the massive blackout that plunged the nation into darkness last week, according to an analysis of thermal conditions along Continue Reading
Venezuela’s worsening crisis, including power outages crippling its oil sector, present a likely “challenge” to the oil market, the International Energy Agency warned Friday. In its monthly oil market report, Continue Reading
Gazprombank, Russia’s third-biggest lender by assets, has sold its indirect stake in the Petrozamora joint venture in Venezuela, a source at the bank said on Thursday. Gazprombank, in a written Continue Reading
The neighbors were fed up. For days, they’d had no electricity or running water because of a massive national blackout. So one morning this week, they piled logs and garbage Continue Reading
At the end of 2015, managers at Rosneft, the Russian state-controlled oil firm, sounded the alarm to their bosses about the company’s investments in Venezuela. Rosneft’s local partner, Venezuelan state Continue Reading
Crews attempting to deal with black-starting a frail and brittle grid like the one in Venezuela also face major safety considerations, like explosions. Venezuela’s massive, nationwide power outages, which began Continue Reading
Opinion editorial Enlarge Image Venezuelans line up to get drinking water after the water supply was disrupted due to power outages. Power is being restored in some parts of Venezuela, Continue Reading
The U.S. Treasury on Thursday gave U.S. refiner Citgo Petroleum Corp a further 18 months to buy crude and make debt payments while under sanctions against its parent, Venezuelan state-run Continue Reading
Venezuela’s main oil export terminal, Jose, has resumed operations and a shipment of crude for export left its docks for the first time since a blackout halted its main activities Continue Reading
US sanctions on PDVSA, which Trump administration officials estimate could cut oil Venezuelan output by roughly 600,000 by the end of 2019, were designed to prevent further damage to Venezuela’s Continue Reading
The Panama Canal Authority’s new maximum draft restriction of 45 feet, or 13.72 meters, could impede the transit of Aframaxes and Long Range 2 tankers through the Neopanamax Locks, as Continue Reading
Ordinary people in Venezuela are bearing the brunt of the ongoing power struggle in the country and last week’s blackout. While the power outage in the country which holds the Continue Reading
Venezuela’s interim government led by Congress head Juan Guaido is preparing new legislation to reverse late President Hugo Chavez’s energy industry nationalization, allowing private companies a bigger role in its Continue Reading
Russia’s largest crude producer Rosneft said Tuesday that its operations in Venezuela are legal and it will defend its rights in accordance with international law if it suffers damages in Continue Reading
China offered on Wednesday to help Venezuela restore its power grid, after President Nicolas Maduro accused U.S. counterpart Donald Trump of cyber “sabotage” that plunged the South American country into Continue Reading
Venezuelan congress head Juan Guaido is preparing a groundbreaking reversal of late President Hugo Chavez’s energy industry nationalization, allowing private companies a bigger role in its oilfields and shrinking state-run Continue Reading
Venezuelan opposition leaders said on Tuesday that the opposition-controlled congress was preparing to consider new energy legislation that would allow faltering oil production to recover with outside help. Ricardo Hausmann, Continue Reading
The United States is prepared to impose “very significant” additional sanctions against financial institutions over the situation in Venezuela in the coming days, U.S. special envoy Elliott Abrams said on Continue Reading
Venezuela ordered American diplomats to leave the country within 72 hours on Tuesday after President Nicolas Maduro accused U.S. counterpart Donald Trump of cyber “sabotage” that plunged the OPEC nation Continue Reading
The top U.S. buyers of Venezuelan oil are in the unusual position of trying to return millions of barrels of crude they need but cannot accept because of U.S. sanctions Continue Reading
Much of Venezuela, including parts of the capital Caracas, remained without power on Monday for a fifth day, crimping vital oil exports and leaving people struggling to obtain water and Continue Reading
Colombia’s government on Monday said it signed two exploration and production contracts with Shell in offshore areas of the Caribbean Sea that will require the company to make initial investments Continue Reading
Venezuela suffered a sweeping blackout last week, which threatens to cut off oil exports from the country. U.S. sanctions have already severely impacted oil operations, leaving cargoes stranded off the Continue Reading
The United States has pressed India to stop buying Venezuelan crude oil as a means of accelerating President Nicolas Maduro’s removal from office, which Washington has made its top priority Continue Reading
Secretary of State Mike Pompeo said the U.S. would withdraw all remaining staff from its embassy in Venezuela due to the “deteriorating situation” there after several days of power outages Continue Reading
Caracas (CNN)In a televised address Monday, Venezuelan President Nicolas Maduro said the recovery from power outages will be “little by little,” adding the outage was an “electronic coup” carried out Continue Reading
The top U.S. buyers of Venezuelan oil are in the unusual position of trying to return millions of barrels of crude they need but cannot accept because of U.S. sanctions Continue Reading
Venezuela watchers have been talking about the “collapse” of the country for a long time. They were mainly using the word metaphorically, applying it to statistical oddities such as fast Continue Reading
Sporadic looting and spontaneous protests. Desperate patients begging doctors to be kept alive. Residents bracing for wider attacks on markets and restaurants after the sun goes down. Sunday was the Continue Reading
At least 15 people have died as a result of a massive electricity outage that has crippled Venezuela, as doctors struggled to assist patients, telecommunications networks were wiped out and Continue Reading
The United States is pressing India to stop buying oil from Venezuelan President Nicolas Maduro’s government, Washington’s top envoy for Venezuela said, as the Trump administration this week threatened more Continue Reading
The narrative seemed to fit Venezuela’s authoritarian rule: Security forces, on the order of President Nicolás Maduro, had torched a convoy of humanitarian aid as millions in his country were Continue Reading
Crude oil production capacity in Iran and Venezuela will fall by a combined 1.76 million b/d if US sanctions on these countries remain in place, the International Energy Agency said Continue Reading
Venezuela must pay ConocoPhillips more than $8 billion to compensate for the 2007 expropriation of oil assets by the late socialist leader Hugo Chavez, the World Bank ruled on Friday, Continue Reading
