The U.S. Treasury Department on Thursday sanctioned 10 more Venezuelan officials, including several government ministers, who it said had helped Venezuelan President Nicolas Maduro’s attempts to undermine democratic rule in Continue Reading
Cuban oil development plans moved one step closer to operation with the naming of an on-site planning coordinator, an Australian energy company said. Melbana Energy Ltd. is one of the Continue Reading
Venezuela has promised investors that government officials under sanction by the United States will not participate in debt talks next week, three market sources told Reuters on Thursday, but creditors Continue Reading
Less than a week after Venezuela shocked the world by announcing it would proceed to restructure its massive external debt, even as it was within the grace period on hundreds Continue Reading
The Trump administration should dramatically tighten its sanctions on Venezuela by imposing a full embargo on its oil exports to the US, according to Argentine president Mauricio Macri, who said Continue Reading
Venezuelan state oil-firm PDVSA has not made debt payments to India’s top oil producer ONGC ( ONGC.NS ) for six months, and has previously used a Russian state-owned bank and Continue Reading
CARACAS, Nov 6 (Reuters) – Venezuelan bond prices tumbled on Monday while those of state oil company PDVSA were mixed, affected by speculation that the government of President Nicolas Maduro Continue Reading
Bonds sold by the Venezuelan government and its state-owned oil company PDVSA moved in opposite directions on Monday as speculation about an upcoming default grew. President Nicolas Maduro’s regime may Continue Reading
Bondholders, creditors, and any company with operations in Venezuela are all agog for news from Caracas after President Nicolas Maduro announced Venezuela will look to restructure its US$89 billion worth Continue Reading
The debt situation is coming to a head in Venezuela. The Venezuelan economy has been in shambles for years, plumbing new depths when it seems that things cannot get any Continue Reading
Fitch, S&P downgrade nation after Maduro talks restructuring Venezuelan default is ‘highly probable,’ Fitch Ratings says Venezuela’s President Nicolas Maduro Photographer: Carlos Becerra/Anadolu Agency via Getty Images Venezuela’s credit grade Continue Reading
President Nicolás Maduro’s decision to restructure Venezuela’s $89bn of debt is likely to unleash a debt crisis of a size not suffered in Latin America since Argentina’s massive 2001 default, Continue Reading
Venezuelan President Nicolás Maduro spoke at a news conference in Caracas on Oct. 17. Mr. Maduro’s announcement Thursday that his country would attempt to restructure its debt drove down the Continue Reading
Some bonds fall as much as 18 cents after announcement Government says it will keep paying debt during talks One day after President Nicolas Maduro left traders puzzled by pledging Continue Reading
The International Monetary Fund issued a warning to Venezuela on Friday after finding the country had failed to provide regular economic data to the institution, two board sources with knowledge Continue Reading
Venezuela’s cash-strapped government invited creditors to a Nov. 13 meeting in Caracas on Friday, after announcing plans to potentially restructure some $60 billion in bonds that sent the OPEC nation’s Continue Reading
Maduro plans one more payment on PDVSA bonds maturing Nov. 2 From there on out, the nation will try to renegotiate its debt g President Nicolas Maduro said Venezuela will Continue Reading
Venezuela’s President Nicolás Maduro (center) speaks during an event to hand over ambulances for Miranda state government, next to Venezuela’s Vice President Tareck El Aissami (left) and Hector Rodriguez, governor Continue Reading
Venezuelan President Nicolás Maduro said late on Thursday that the country would restructure and refinance its debts after the state-owned oil company makes one final payment, a long-awaited move by Continue Reading
Venezuela has the world’s highest inflation, estimated by the International Monetary Fund to reach 653% this year. The country has been ravaged by shortages of food and medicine, and months Continue Reading
Holders of Venezuelan state oil company PDVSA’s 2020 bonds will receive by Thursday an amortization payment that was due last week, five market sources told Reuters on Tuesday, citing a Continue Reading
Venezuela’s state oil company PDVSA said on Tuesday that a storage tank at its Amuay refinery had overflown because of heavy rains and that a cleanup had begun to avoid Continue Reading
In a historic auction for deepwater oil assets in Brazil, the oil majors showed up on October 27 and bought several offshore blocks, indicating a high level of interest in Continue Reading
Oil major Royal Dutch Shell Plc won half the blocks awarded in Brazil’s deepwater oil auction on Friday, while rival BP took two blocks and Exxon Mobil Corp took one Continue Reading
Oil major Royal Dutch Shell Plc RDSA.L won half the blocks awarded in Brazil’s deepwater oil auction on Friday, while rival BP ( BP.L ) took two blocks and Exxon Continue Reading
Brazilian President Michel Temer said Friday’s auction of pre-salt offshore oil blocks will generate investments of more than 100 billion reais ($30.8 billion) in Brazil by the winning oil companies. Continue Reading
PDVSA says it paid principal due on amortizing 2020 bonds Doesn’t mention interest payment, which has grace period Venezuela’s state-run oil company said it transferred the funds to make an Continue Reading
Venezuela’s state-owned oil giant announced on Friday it had made a critical debt payment, avoiding a catastrophic default that could have seen the company lose control of the U.S.-based refiner Continue Reading
PDVSA says it paid principal due on amortizing 2020 bonds Doesn’t mention interest payment, which has grace period Venezuela’s state-run oil company said it transferred the funds to make an Continue Reading
Brazil and Mexico are competing for a diminishing resource: the investment dollars of oil majors. HOUSTON/RIO DE JANEIRO, Oct 26 (Reuters) – Brazil and Mexico are competing for a diminishing Continue Reading
Brazil will auction eight blocks in its coveted deepwater oil region on Friday, a prospect that has lured top executives from the world’s biggest oil companies to Rio de Janeiro Continue Reading
This past weekend, Venezuela failed to make $237 million in bond coupon payment, blaming “technical glitches” when in reality it simply did not have the money (or wish to part Continue Reading
PDVSA’s next $985 million debt payment – due Friday – has international investors guessing how Caracas will meet yet another financial deadline to prevent total default, according to reports emerging Continue Reading
After dumping billions of dollars in assets to focus on one particular oil field in Guyana, Hess Corp. said Wednesday its net loss almost doubled year-over-year. Hess reported a net Continue Reading
Venezuelan oil shipments to the United States have fallen to just 56 percent of their 2016 average, cargo-tracking data from Bloomberg has revealed , as sanctions against Caracas hinder oil Continue Reading
YPF plans to invest $21.5 billion in the country from 2018 to 2022. BUENOS AIRES, Oct 25 (Reuters) – Argentina’s state-controlled energy company YPF plans to invest $21.5 billion in Continue Reading
Shell is confident that it can produce oil from Brazil’s promising prolific pre-salt layer for less than $40 per barrel, that’s why the supermajor is taking part in this week’s Continue Reading
Vastly expanding sugarcane production in Brazil for conversion to ethanol could reduce current global CO 2 emissions by as much as 5.6%, according to a new study by an international Continue Reading
The oil and bond market participants have hardly had time to take a breather after Venezuela’s disputed regional election, as the cash-strapped crisis-stricken country has to make more than $2 Continue Reading
The next few weeks for Venezuela will be crucial, as it could struggle to meet a huge stack of debt payments. Reports that the nation’s oil production is experiencing deteriorating Continue Reading
Colombia production is holding a plateau over the past year after a large decline in the last part of 2015 and first half of 2016. August value was 858 kbpd Continue Reading
A total of $26 million in unpaid bills has caused Venezuela’s PDVSA to be blocked from using a NuStar Energy oil storage terminal in the Caribbean, according to an exclusive Continue Reading
While looking for partners to join in, Australian energy company Melbana said it was positioned for an early start to an oil drilling program in Cuba next year. Melbana is Continue Reading
Venezuela’s state-run oil firm, PDVSA, is increasingly delivering poor quality crude oil to major refiners in the United States, India and China, causing repeated complaints, canceled orders and demands for Continue Reading
Venezuela’s President Nicolas Maduro claimed victory in a regional election on Sunday in a surprise win defying opinion polls, but the opposition refused to recognize the outcome, decrying fraud, in Continue Reading
The International Monetary Fund has begun preparations for a possible rescue of Venezuela that could require $30bn or more in international help annually and come alongside one of the world’s Continue Reading
Opponents of President Nicolás Maduro expressed skepticism on Monday over the results of regional elections that the governing party said it won decisively, leaving weary Venezuelans facing the grim prospects Continue Reading
Venezuela’s main refining complex, hobbled by a lack of oil and maintenance issues, is down to operating at about a third of its 955,000-barrel-per-day capacity, according to a union official Continue Reading
Gas transporter TGS, controlled by Pampa Energía, has proposed an $800 million pipeline and gas treatment plant in Argentina’s Vaca Muerta shale fields, a company source said, aiming to address Continue Reading
Chinese E&P major Sinopec reportedly put its Argentina assets up for a $1 billion sale this week. With one of the interested buyers said to be Russia’s Rosneft. And that Continue Reading
