Venezuela’s Oil Exports Hover Around 700,000 Bpd
Venezuela’s oil exports are hanging tough around 700,000 bpd, where they have been for the last three months, according to tanker tracking data and PDVSA documents cited by Reuters . Continue Reading
Maduro struggles to make good on his grand vaccine promises
A few weeks before Christmas, Venezuela’s president Nicolås Maduro made a major announcement about his plans to tackle coronavirus. His vice-president, Delcy Rodriguez, had just arrived back from Moscow bearing Continue Reading
Venezuela Government Releases U.S. Oil Executives to House Arrest
A group of American oil executives held in a crowded Venezuelan prison were released to house arrest Friday, according to a person briefed on the negotiations. The employees of Houston-based Continue Reading
Venezuela arrests 10 PDVSA officials for illegal fuel sales
Venezuela’s attorney general said on Thursday that 10 officials from state-owned oil company Petroleos de Venezuela (PDVSA) were arrested for allegedly diverting and selling some 3 million liters (792,516 gallons) Continue Reading
Venezuela says 8 soldiers killed amid fighting along Colombian border
Venezuelan Defense Minister Vladimir Padrino said on Wednesday that eight soldiers were killed in combat amid continuing clashes between the armed forces and illegal armed groups along the border with Continue Reading
Venezuela to channel scarce diesel to farmers
Venezuela is crafting an emergency plan to guarantee diesel supply to farmers but with reduced price subsidies. Oil minister Tareck El Aissami and agriculture minister Wilmar Castro have been tasked Continue Reading
Will Venezuela Spark The Next Major Conflict In Latin America?
Military strikes in southwestern Venezuela and the resultant surge of refugees into neighboring Colombia have sparked renewed claims that the autocratic Maduro regime in Caracas is a major destabilizing force Continue Reading
First Venezuela, Now Ecuador: US Refiners Need A New Source Of Heavy Crude
U.S. refiners were forced to source their heavy crude from somewhere else after the United States sanctioned Venezuelan crude oil. Now, U.S. refiners may again be forced to resource crude Continue Reading
Venezuela’s PDVSA begins shutdown of Petropiar oil field for maintenance
Venezuela’s state-owned PDVSA has started a maintenance shutdown of its Petropiar oil field located in the Ayacucho block in the Orinoco Belt, according to a technical report reviewed by S&P Continue Reading
Venezuela Cut Off From Share of IMF’s $650 Billion New Reserves
The International Monetary Fund won’t hand over $5 billion of special drawing rights to Venezuela to bolster its reserves as part of a massive injection of resources to member nations, Continue Reading
Could A Comeback In Venezuelan Oil Crash The Markets?
Crude oil prices had a rocky start to 2021. There are plenty of wildcards which will continue to fuel price volatility for the foreseeable future, the most notable being supply Continue Reading
Is Venezuela Preparing For A Military Strike On Colombia?
Venezuelan President Nicolas Maduro is well-known for his saber-rattling, much of which is designed to distract Venezuelans from the severe economic crisis sweeping the country and the brutality of his Continue Reading
5,000 Flee as Venezuela Launches Largest Military Campaign in Decades
The Venezuelan government has long tolerated armed groups trafficking drugs and contraband near its border with Colombia. Now it has lashed out at one of them, driving thousands of civilians Continue Reading
Venezuela military offensive in Apure state sparks new flow of refugees to Colombia
A new campaign by the Venezuelan military near the country’s lawless western border is sparking a surge of refugees, with thousands defying the spiking pandemic to pack into makeshift shelters Continue Reading
Venezuelan oil sanctions crossroads could come amid summer dearth of diesel
US oil sanctions on Venezuela could reach a tipping point this summer if a dire diesel shortage further exacerbates a humanitarian crisis that continues to unfold even as President Nicolás Continue Reading
Venezuela Looks To Pay With Oil For COVID Vaccines
Venezuela could pay with oil for COVID-19 vaccines, Nicolas Maduro, the President of the struggling South American nation that is home to the world’s biggest oil reserves, said on Sunday. Continue Reading
Venezuela calls Facebook suspension of Maduro ‘digital totalitarianism’
Venezuela’s government on Sunday accused Facebook Inc of “digital totalitarianism” after it froze President Nicolas Maduro’s page for 30 days for violating its policies against spreading misinformation about COVID-19. Facebook Continue Reading
PDVSA Oil Terminal Declares Bankruptcy
The operator of an oil terminal operated by Venezuela’s state oil company PDVSA has declared bankruptcy, blaming it on U.S. sanctions, Reuters has reported , citing court documents. According to Continue Reading
Can Venezuela’s Oil Industry Come Back From The Dead?
Smaller players are eager to recommence talks with Venezuela over its crude oil opportunities before the majors start their attack. The eventual easing of sanctions on Venezuelan oil under President Continue Reading
Oil Firms Discuss Return To Venezuela As Maduro Promises End Of Monopoly
Managers of foreign oil companies have been visiting Caracas recently to negotiate a possible return of international firms to Venezuela’s embattled oil industry after Nicolas Maduro began promising earlier this Continue Reading
Venezuela natural gas pipeline explodes after PIGAP II rupture
An explosion at a 20-inch pipeline that provides natural gas to the PIGAP II gas reinjection plant in northern Monagas state in Venezuela was the result of a “terrorist attack,” Continue Reading
Venezuelan farmers seek permission to import diesel amid shortages
Venezuelan farmers said that they had asked the government to allow them to import diesel themselves to alleviate shortages of the fuel that are hindering food production and distribution. Diesel Continue Reading
Venezuela’s diesel shortages, the latest blow to ailing Venezuela
Fearful of being robbed and scared of losing his place in a miles-long line for diesel, Daniel Trocel spent the entire night in his truck parked along the edge of Continue Reading
Why Biden Needs To Change His Tune On Venezuela
Since the U.S. presidential election started in earnest toward the end of 2020 there has been considerable speculation regarding President Biden’s plans for crisis-torn Venezuela. President Biden has flagged that Continue Reading
Maduro Hints At “New Business Models” In Oil
The Venezuelan National Assembly will consider reforms to the country’s oil law that will open the door to “new business models,” President Nicolas Maduro said this week, as quoted by Continue Reading
Venezuela Sees Oil Exports Rise Despite U.S. Sanctions
Venezuela’s crude oil exports rose last month despite Washington imposing new sanctions in January on several trading houses that worked with Caracas to export its oil. According to Tanker Trackers Continue Reading
Venezuela Oil Exports Drop After U.S. Sanctions on Key Traders
Venezuela oil exports dropped in February after the U.S. sanctioned key trading houses and individuals that had been propping up exports of the commodity that bankrolls President Nicolas Maduro’s regime. Crude Continue Reading
Iran And Venezuela Swap Jet Fuel And Gasoline Cargoes
Venezuela and Iran, both sanctioned by the United States, have found a way to help each other as shipping companies stay away from dealings with the two oil-producing countries for Continue Reading
Venezuela ships jet fuel to Iran in exchange for gasoline, sources say
Venezuela is shipping jet fuel to Iran in return for vital gasoline imports for the South American nation as part of a swap deal agreed by the two state-run oil Continue Reading
The world must act to stop Venezuela’s environmental destruction – The Washington Post
Francisco Dallmeier is the head of the Center for Conservation and Sustainability of the Smithsonian Conservation Biology Institute. Cristina V. Burelli is executive director of V5 Initiative and SOSOrinoco.org. The Continue Reading
EU slaps sanctions on 19 more Venezuelan officials
The European Union on Monday imposed sanctions on 19 more officials in Venezuela accused of undermining democracy or rights abuses in the crisis-torn South American country. EU foreign ministers targeted Continue Reading
Is Biden Preparing To Ease Restrictions On Venezuelan Oil?
In a surprise move, President Biden has withdrawn U.S. support for a Saudi-led military campaign against Houthi rebels in war-torn Yemen, describing the country’s bitter civil war as a humanitarian Continue Reading
TANKERS: Biden policy shift on sanctions could revive Caribbean tanker loadings
Aframax Caribbean-USGC runs down 75% in 2020 from 2016 Sanctions lifting would release 500,000 b/d of crude Guyana provides potential return of Caribbean Suezmax business A partial easing of US Continue Reading
Venezuela Jails PDVSA Managers For Providing Oil Data To U.S.
Venezuela has jailed for five years two former managers at its state oil firm PDVSA for providing sensitive data about Venezuelan oil operations to the United States, Venezuela’s attorney general Continue Reading
How U.S. Sanctions Against Venezuela Backfired
Harsh U.S. sanctions, a crumbling economy, and near collapsed petroleum industry have done little, if anything, to loosen President Maduro’s grip on power in Venezuela. It appears that one of Continue Reading
VENEZUELA DATA: January crude production rises by 100,000 b/d to 520,000 b/d
Average crude output by Venezuela’s state-owned PDVSA and its foreign partners in January rose to 520,000 b/d, or 100,000 b/d more than December, according to daily production reports reviewed by Continue Reading
Chevron and Reliance Hold Venezuela Talks with State Department
Chevron and Reliance Industries are meeting with US State Department officials to request a rollback of some Trump-era restrictions against Venezuela’s oil industry. (Bloomberg) — Chevron Corp. and Reliance Industries Continue Reading
Chevron Could Be Key To Rebuilding Venezuela’s Oil Industry
Despite outside assistance from Russia, China and Iran, the embattled socialist regime of President Maduro has proven incapable of rebuilding Venezuela’s once-mighty petroleum industry. According to the latest OPEC Monthly Continue Reading
Will Venezuela Go To War Over Oil?
January 2021 is still far from over yet the pages of Oilprice already boast 6 articles about Guyana being the hottest drilling spot in the world. This is hardly surprising, Continue Reading
Will Biden Lift Sanctions On Venezuela?
The country with the largest proven oil reserves in the world, clocking in at a whopping 299,953,000,000 barrels of proven oil, is currently suffering a fuel shortage so great that Continue Reading
China Imports Venezuelan Oil That’s Doctored to Skirt U.S. Sanctions
It may be the oil market’s worst-kept secret: Millions of barrels of Venezuelan heavy crude, embargoed by the U.S., have been surreptitiously going to China. The cat-and-mouse games that avoid detection and Continue Reading
Trump in final parting shot hits Venezuela with sanctions
The Trump administration issued a parting shot to Venezuelan President Nicolás Maduro on Tuesday, announcing a sweeping round of stiff financial sanctions that target a network accused of moving oil Continue Reading
US sanctions European oil traders, tankers for violating Venezuelan crude oil sanctions
The US Treasury sanctioned a series of European oil traders and crude tankers that allegedly helped a Mexican network work with Venezuela to evade US sanctions and move its crude Continue Reading
Oil companies, aid groups plan to press Biden to allow Venezuela fuel swaps
Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse Continue Reading
Pacific Island Nation Tells Venezuela ‘That Oil Tanker Isn’t Ours’
The island nation of Palau says a tanker that recently loaded Venezuelan crude was using a false signal to disguise its identity, potentially putting the Pacific country in the crosshairs Continue Reading
Venezuela slams U.S. court approval of Citgo parent sale as ‘fraudulent’
Venezuelan Foreign Minister Jorge Arreaza on Saturday criticized a U.S. court ruling authorizing a sale of the shares in the parent company of U.S. refiner Citgo Petroleum Corp, calling it Continue Reading
Venezuela Opens Up To Foreign Oil Investment
Venezuela is opening up to foreign investment in its oil industry, President Nicolas Maduro said this week, in a bid to reverse a catastrophic drop in its output under the Continue Reading
Citgo still in limbo as judge approves sale of Venezuelan holding company’s shares
The fate of US refiner Citgo Petroleum remains in limbo following a federal court ruling late Jan. 14 that reaffirms the eventual auction of shares of Citgo’s Venezuelan holding company. Continue Reading
Venezuela’s Political Crisis Deepens as Regime Installs Rubber-Stamp Congress
Chanting anti-American slogans, thousands of Iraqis converged on a landmark square in central Baghdad on Sunday to commemorate the anniversary of the killing of a powerful Iranian general and a Continue Reading
Western Oil Majors Are Key To Reviving Venezuela’s Oil Industry
Venezuela’s rapidly disintegrating oil industry, which is the backbone of its economy, is a mere shadow of what it once was, despite the founding OPEC member possessing the world’s largest Continue Reading