The walking began before dawn: before the clouds broke against the mountaintops, before the trucks took over the highway, even before anyone in the town woke up to check the Continue Reading
Venezuela’s Oil Minister Manuel Quevedo, a former general appointed by Nicolas Maduro in late 2017 to lead Venezuela’s oil industry and state oil firm PDVSA, has said that a terrorist Continue Reading
President Trump on Monday delivered his sharpest warning yet to Venezuela’s military authorities in an increasingly tense showdown over that country’s crisis, proclaiming they would “lose everything” by remaining loyal Continue Reading
Venezuela’s opposition has no plans to use funds belonging to U.S. refiner Citgo, which is owned by state oil company PDVSA, despite having named a new board for the company Continue Reading
Russian lender Gazprombank has decided to freeze the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under Continue Reading
Russian lender Gazprombank has decided to freeze the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under Continue Reading
The United States ratcheted up pressure on Venezuelan President Nicolas Maduro on Friday by sanctioning some of his top security officials and the head of the state oil company, and Continue Reading
A Citgo Petroleum Corp refining unit in Aruba plans to dismiss workers following sanctions imposed by the United States on Venezuela’s state-run PDVSA, the parent company of the U.S. refining Continue Reading
Global commodities firm Trafigura has decided to stop trading oil with Venezuela due to U.S. sanctions on the OPEC nation’s energy sector, a source with direct knowledge of the matter Continue Reading
Due to the U.S. sanctions on Venezuela’s oil industry and state firm PDVSA, one of the world’s largest commodity traders, Trafigura, has decided to halt its oil trade with Venezuela, Continue Reading
Litasco, the international trading arm of Russia’s second-biggest oil producer Lukoil, stopped its oil swaps deals with Venezuela immediately after the U.S. imposed sanctions on Venezuela’s oil industry and state Continue Reading
The US Department of the Treasury on Friday added Venezuelan oil minister Manuel Quevedo to its list of sanctioned individuals blocked from the US financial system, calling him the “illegitimate” Continue Reading
Venezuela’s president Nicolas Maduro has declared that the country will increase its crude oil production by 1 million bpd along with production increases in other commodity sectors, TASS reports , Continue Reading
India will look into commercial considerations and related factors to determine the value of oil imports from any country, an Indian official said on Thursday, after a top U.S. official Continue Reading
Venezuela’s opposition-controlled congress named new temporary boards of directors to state-oil firm PDVSA on Wednesday, in an effort to wrest the OPEC nation’s oil revenue from increasingly isolated socialist President Continue Reading
Venezuelan oil company PDVSA is looking to double exports to India as U.S. sanctions hobble deliveries to the United States and Europe. The United States and most Western countries have Continue Reading
U.S. National Security Advisor John Bolton has warned countries and companies against buying crude oil from Venezuela, after the Latin American country’s Oil Minister Manuel Quevedo said during a surprise Continue Reading
Just over two weeks old, US sanctions on PDVSA, Venezuela’s state-owned oil company, continue to alter global crude and diluent flows and are accelerating the already historic collapse of the Continue Reading
Venezuelan oil production is expected to fall to 500,000 b/d by the end of the year, largely from the impact of US sanctions on PDVSA, the country’s state-owned oil company, Continue Reading
Democratic lawmakers on Wednesday said Congress would oppose U.S. military intervention in Venezuela and challenged the credibility of President Donald Trump’s special envoy, Elliott Abrams, over his past embrace of Continue Reading
Venezuela’s oil production could feasibly fall to just 500,000 barrels per day by year’s end, according to the US State Department’s Special Envoy to Venezuela in a Wednesday hearing on Continue Reading
Advisers to Venezuelan Congress head Juan Guaido have proposed appointing executives Luisa Palacios, Angel Olmeta, Luis Urdaneta and Edgar Rincon to a transitional board for U.S. refiner Citgo Petroleum Corp, Continue Reading
Venezuela’s oil exports have tapered off and shifted toward Asia since new U.S. sanctions began Jan. 28 as state-run oil company PDVSA seeks to replace deliveries to the United States Continue Reading
“China recognizes the increasing risk of a regime change and does not want to be on the bad side of a new regime,” said R. Evan Ellis, an expert on Continue Reading
The Venezuelan opposition led by Juan Guaido could soon become the owner of PDVSA’s U.S. refining business, Citgo, in what would only deepen the chaos surrounding the country’s state oil Continue Reading
In an oil market already tighter on heavy crude grades due to OPEC’s production cuts and U.S. sanctions on Iran’s oil, refiners now face an even tighter supply of heavy Continue Reading
The US Energy Information Administration sees more global oil supply and slightly lower demand this year and next, despite production cuts by OPEC and US sanctions on Venezuela creating a Continue Reading
Venezuelans on Tuesday fed a wave of discontent seeking to drive President Nicolás Maduro from office, turning out into the streets in massive protests. But even as the opposition hailed Continue Reading
A dispute over a $626,860 deposit at Wells Fargo & Co. during the Chinese Revolution offers a glimpse into who may eventually control Citgo Petroleum in the current Venezuelan power Continue Reading
Venezuela’s Nicolas Maduro has sought OPEC support against U.S. sanctions imposed on his country’s oil industry, citing their impact on oil prices and potential risks for other members of the Continue Reading
Total CEO Patrick Pouyanne said on Monday he believed the French oil major could stay in Venezuela despite U.S. sanctions, but that his company would evaluate the situation. “First, we Continue Reading
Venezuela’s oil industry has been in a tailspin in recent years, with the country’s crude oil production falling from 2.4 million barrels per day (bpd) in 2015 to only 1.34 Continue Reading
Venezuela’s troubled state oil company PDVSA is telling the buyers of oil produced by its joint ventures to deposit the money for purchases in a new bank account recently opened Continue Reading
Venezuela’s oil minister is in New Delhi this week hoping to convince India’s key refiners to buy more of its crude and forge closer ties as the South American nation Continue Reading
Foreign partners of Venezuela’s PDVSA are facing pressure from the state-run oil firm to publicly declare whether they will continue as minority stakeholders in Orinoco Belt projects following U.S. sanctions, Continue Reading
Venezuela’s Pemon, an indigenous people living along the border with Brazil, are determined to allow into the embattled country any foreign aid that may arrive, even if that means a Continue Reading
Venezuela’s state-run oil company PDVSA is telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at Russia’s Gazprombank AO, according to sources and Continue Reading
Venezuela is open to barter-like payments from India to boost oil sales to the world’s third-biggest oil consumer, the South American country’s oil minister Manuel Quevedu said on Monday.Venezuela buys Continue Reading
Venezuela’s Oil Minister and President of Venezuelan state-run oil company PDVSA. Venezuela has all mechanisms and channels in place to keep its oil operations going and will be able to Continue Reading
Russia’s Gazprombank said on Sunday that Venezuela’s state-run oil company PDVSA opened accounts with the bank several years ago and has not opened any accounts recently. Reuters reported on Saturday Continue Reading
Latin American crude prices and flows to the United States have climbed this week as U.S. refiners tap lesser-used grades and suppliers to replace Venezuelan oil lost due to U.S. Continue Reading
When President Trump slapped surprise oil sanctions on Venezuela aimed at toppling President Nicolás Maduro, exports plunged and banking froze as the effects hit harder and faster than expected. But Continue Reading
Not only ordinary Venezuelan people have been fleeing poverty and hyperinflation in the Latin American country in recent years. Oil workers are also leaving their poor-paying jobs in the country Continue Reading
US sanctions imposed on Venezuela’s state-owned PDVSA could further support an already tight high sulfur fuel oil market in Europe, sources said. The European fuel oil market has seen unusual Continue Reading
The U.S. Justice Department is investigating a former U.S.-based oil trader for Brazil’s Petrobras already charged in his home country with taking part in a corruption scheme involving commodity companies Continue Reading
The sanctions the U.S. slapped on Venezuelan oil last week are playing havoc with the tankers that ship crude around the world, and throwing energy prices off-kilter in the process. Continue Reading
Trading houses that resell Venezuelan crude oil have not yet found workarounds since the United States announced sanctions to cut off socialist President Nicolas Maduro’s revenue, according to shipping data Continue Reading
France’s oil and gas major Total has pulled out all its personnel from Venezuela following the U.S. sanctions on Venezuelan state oil firm PDVSA, which also blocked Total’s accounts in the Latin Continue Reading
Venezuela’s state-owned PDVSA is arguing in US court that the latest sanctions imposed by the Trump administration should block any attempts by Venezuela’s creditors to use the US justice system Continue Reading
Venezuela’s state-run PDVSA has started mixing its extra heavy oil with domestic Santa Barbara light crude due to a shortage of imported diluents following U.S. sanctions imposed last week, two Continue Reading
