Chevron has a joint venture with state-owned oil company Petróleos de Venezuela. The U.S. extended a limited license held by Chevron Corp. on Tuesday that allows the oil company to Continue Reading
Crude fell after the US government announced it plans to allow Chevron Corp. to negotiate its oil license with Venezuela’s national producer. West Texas Intermediate settled below $113 on Tuesday. Continue Reading
Chevron waiver was due to expire June 1 Opposition leader Guaido denies involvement Republican lawmakers May 17 were quick to condemn steps the Biden administration reportedly took to ease oil Continue Reading
A Venezuela-owned tanker in March sailed to a remote spot in the Indian Ocean and met an Iran-flagged vessel, took on a cargo of Iranian condensate and sailed home, according Continue Reading
Venezuela has begun importing Iranian heavy crude to feed its domestic refineries, documents from the state-run oil company PDVSA showed, a deal that widens a swap agreement signed last year Continue Reading
Venezuela’s oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality crude grades and insufficient oil upgrading capacity available, according to documents and vessel Continue Reading
Venezuela is scrambling to ramp up its oil production to help tackle global supply constraints. There is a growing concern that state-owned PDVSA is reaching its production capacity. Some analysts Continue Reading
Cuba is struggling to cover a fuel deficit as imports from Venezuela and other countries remain below historical levels and global prices boosted by Russia’s invasion of Ukraine make purchases Continue Reading
Petroleum exports from Venezuela declined about 4% in March from the previous month as its state-run oil company dealt with crude cargoes returned by customers over poor oil quality, documents Continue Reading
Venezuela’s state-run energy firm PDVSA is in talks to buy and lease several oil tankers amid a possible expansion in exports, according to three sources and a document seen by Continue Reading
A Russian oil company used to provide a workaround to U.S. oil trading sanctions on Venezuela is scrambling to avoid another set of sanctions, documents show, this time from Europe Continue Reading
Russia’s invasion of Ukraine has sparked concern of a global supply shortage, forcing the U.S. to rethink its relationship with Venezuela. The burden created by strict U.S. sanctions against Venezuela Continue Reading
—For months, Biden administration officials snubbed top executives and lobbyists for Chevron Corp. who had pressed officials in Washington to ease sanctions so the company could boost production in Venezuela, Continue Reading
The war in Ukraine has created an especially volatile oil market, and the Biden administration is racing to counter rising prices. The United States needs to replace as much as Continue Reading
Chevron Corp. is preparing to take operating control of its joint ventures in Venezuela if Washington relaxes sanctions on Caracas to boost crude supplies after banning Russia’s oil imports, according Continue Reading
Venezuela’s oil output could rise by at least 400,000 barrels per day (bpd) if the United States authorizes requests by state-run PDVSA’s partners to trade Venezuelan crude, the country’s petroleum Continue Reading
Pressure is building on the Biden administration to begin unwinding sanctions on Venezuela after President Nicolas Maduro freed two American prisoners and promised to resume negotiations with his opponents. Maduro’s Continue Reading
U.S. officials have demanded Venezuela supply at least a portion of oil exports to the United States as part of any agreement to ease oil trading sanctions on the OPEC Continue Reading
Venezuela released two jailed U.S. citizens on Tuesday in an apparent goodwill gesture toward the Biden administration following a visit to Caracas by a high-level U.S. delegation. One of the Continue Reading
The chief executive of ONGC Videsh, India’s second-largest oil and gas company, on Sunday confirmed talks between India and the U.S. State Department are underway to allow the company to Continue Reading
A group of senior U.S. officials flew to Venezuela on Saturday for a meeting with President Nicolás Maduro’s government to discuss the possibility of easing sanctions on Venezuelan oil exports Continue Reading
Senior U.S. officials are traveling to Venezuela on Saturday to meet with the government of President Nicolás Maduro, according to people familiar with the matter, as the Biden administration steps Continue Reading
Two decades of malfeasance, mismanagement, and corruption have led to ill-maintained energy infrastructure and a large number of oil spills in Venezuela. Caracas’ reluctance to identify, contain, and clean up Continue Reading
The Biden administration is considering a Chevron Corp (CVX.N) proposal to allow the U.S. oil major to accept and trade Venezuelan oil cargoes to recoup unpaid debt, four people close Continue Reading
Chevron is in talks with the Venezuelan government to gain more control over their joint venture and help Caracas boost oil production. Bloomberg reported that the negotiations are being led Continue Reading
The Treasury Department extended a moratorium on transactions on a bond issued by the U.S. arm of Venezuela’s PDVSA, Citgo, for another year in the latest move to shield the Continue Reading
Oil exports from Venezuela doubled in December from a year earlier as the country raises production of revenue-generating hydrocarbons in defiance of U.S. sanctions. Shipments averaged 619,000 barrels a day Continue Reading
Venezuela has reported a significant increase in monthly oil output. The spike in output can be attributed to a range of factors, including the technical assistance and diluent provided by Continue Reading
Highlights Average year crude production slightly below 2020 Production from JVs account for 60% of total production Iranian condensates boost output for third straight month Venezuelan state-owned PDVSA and its Continue Reading
Venezuela says it’s pumping the most oil since harsh U.S. sanctions strangled state-owned oil company Petroleos de Venezuela SA more than two years ago. Not everyone believes it. PDVSA, as Continue Reading
Venezuela this year almost doubled its oil production from last year’s decades-low as its state-owned company struck deals that let it pump and process more extra-heavy crude into exportable grades. Continue Reading
A senior U.S. diplomat quietly traveled to Venezuela this week and met with imprisoned Americans in an ongoing effort to secure release of the men the Biden administration believes are Continue Reading
Venezuelan President Nicolas Maduro plans to replace Oil Minister Tareck El Aissami – a key ruling party official who also serves Venezuela’s OPEC representative and board member of the state Continue Reading
U.S. sanctions have a long history of failing to initiate regime change Sanctions from both the Obama and Trump Administrations have failed to have a material impact on Venezuela’s regime Continue Reading
Iran has delivered the fourth cargo of crude oil condensate to Venezuela since the start of this year, Reuters has reported , citing a Venezuelan member of parliament—but the condensate Continue Reading
A cargo of Iranian condensate intended for Venezuela’s state-run oil company, PDVSA, the fourth delivery this year, will discharge in coming days at the country’s main oil port, a Venezuelan Continue Reading
Highlights Recovery of production possible because of imports of diluents from Iran Orinoco Belt output at 420,000 b/d; Monagas fields 130,000 b/d; Zulia-Trujillo 110,000 b/d Sinovensa is operating at 90,000 Continue Reading
The U.S. is leaving Venezuelan operations of Chevron Corp. and top American oil-service companies at a standstill after President Nicolas Maduro’s socialist party came victorious in regional elections questioned by Continue Reading
Record numbers of Venezuelan migrants have been crossing into the United States in recent months, posing a new border challenge for the Biden administration and raising concerns that more of Continue Reading
Venezuela’s President Nicolas Maduro said on Sunday there will be no renewed talks with opposition politicians until “the kidnap” of a prominent government envoy Alex Saab – who was extradited Continue Reading
Venezuela’s broken oil industry is still struggling to boost production, and the new target set by PDVSA of 1 million barrels per day by the end of the year is Continue Reading
Citgo Petroleum Corp, the eighth-largest U.S. oil refiner, reported on Monday its seventh quarterly loss in the last two years and reshuffled its board of directors, naming three new members. Continue Reading
The Cold War lived on in socialist Venezuela, where, since Hugo Chávez courted the Kremlin in the 2000s, the United States and Russia engaged in what was largely a two-way Continue Reading
Venezuela’s state oil company PDVSA halted two key gasoline production units at its Amuay refinery, the country’s largest, after a fire in the area, four sources with knowledge of the Continue Reading
In this Sept. 9, 2021 file photo, pedestrians walk near a poster asking for the freedom of Colombian businessman and Venezuelan special envoy Alex Saab, and that reads in Spanish Continue Reading
The supervisory boards of Venezuela-owned Citgo Petroleum, racing to stave off a breakup of the eighth-largest U.S. oil refiner, have held talks with U.S. officials in Bogota, Colombia, seeking to Continue Reading
The collapse of Venezuela’s oil industry could lead to significant environmental consequences. Oil spills are likely to increase due to a lack of infrastructure investment and maintenance. A key part Continue Reading
Saab was charged with money laundering in the US One of President Nicolás Maduro’s closest aides has been extradited from Cape Verde to the United States, where he’s been charged Continue Reading
Venezuela’s government has suspended internationally sponsored negotiations with the opposition and revoked the house arrest of six American prisoners after the US extradited a close ally of president Nicolås Maduro Continue Reading
An Iran-flagged supertanker on Saturday was about to set sail from Venezuelan waters carrying 2 million barrels of heavy crude provided by state-run oil firm PDVSA (PDVSA.UL), according to documents Continue Reading
