U.S. Swaps Venezuelan Fuel Oil For Russian Products
The United States has been raising its imports of fuel oil from Russia over the past year and a half after the U.S. imposed sanctions on Venezuela’s exports, Reuters reported Continue Reading
U.S. Ups Pressure To Push Venezuela Oil Exports To Zero
The United States is pressing shippers, insurers, certification organizations, and flag states registering vessels not to work with Venezuela as the Trump Administration is looking to cut off Nicolas Maduro’s Continue Reading
PDVSA, Chevron restart production of crude in Venezuela’s Orinoco Belt: technical report
Venezuela’s state-owned PDVSA and US-based Chevron restarted production of extra-heavy crude in the Orinoco Belt at their Petropiar joint venture, which is operating at 72,000 b/d or 38% of capacity, Continue Reading
U.S., Libya Suspect Maduro-Haftar Gold Trade Scheme
The United States and Libya are probing a suspected scheme in which eastern Libyan strongman Khalifa Haftar is allegedly paying Nicolas Maduro’s regime in Venezuela U.S. dollars in exchange for Continue Reading
Venezuela Oil Minister Gets Covid-19 Days After Meeting Maduro
Venezuela’s Oil Minister Tareck El Aissami said he’s tested positive for Covid-19 five days after a televised meeting alongside President Nicolas Maduro. He is the second close ally of President Maduro Continue Reading
Venezuela inflation rises to 19.5% in June: congress
Venezuelan consumer prices rose 19.5% in June compared with the prior month, data from the opposition-controlled National Assembly showed on Wednesday, as surging inflation contributes to rising poverty in the Continue Reading
Venezuela’s Oil Riches Are Quietly Falling Under Russian Control
For decades during the Cold War, Latin America was a focal point of conflict between the two superpowers, the U.S. and Soviet Union. While the U.S. emerged victorious after the Continue Reading
Iranian Military-Owned Conglomerate Sets Up Shop in Venezuela
An Iranian conglomerate owned by the country’s military and tied to its missile program has established a retail foothold in Venezuela, according to officials and records detailing the move, deepening Continue Reading
US removes sanctions on four oil shippers after vows to avoid Venezuelan trade
Action delists shippers Adamant, Delos, Romina, Sanibel Greek shippers union vowed to end all Venezuelan trade Venezuelan oil exports to be capped at 300,000 b/d The US Treasury Department on Continue Reading
U.S. Looks For Ways To Cut Off Iranian Gasoline Shipments To Venezuela
Federal prosecutors in the United States are looking to seize Iranian gasoline on tankers currently en route to Venezuela by filing a civil-forfeiture complaint, The Wall Street Journal reported on Continue Reading
Venezuela’s Oil Production Continues To Plummet
Venezuela’s crude oil production tumbled by nearly 200,000 bpd in June compared to May, to just 422,400 bpd on June 28, as Venezuela struggles to place its oil on the Continue Reading
‘Stolen’ Oil Cargo Shows U.S. Sanctions On Venezuela Work
A legal fight over a gasoline cargo anchored near Houston is indicative of the shipping industry increasingly refusing to have anything to do with Venezuela and the efficiency of the Continue Reading
VENEZUELA DATA: June crude output almost halves to 280,000 b/d
Crude production by state-owned Venezuelan oil company PDVSA and its international partners almost halved during June to 280,000 b/d because of full storage capacity and the collapse in exports due Continue Reading
Latin America Seen Heading for Deepest Slump Since at Least 1901
The World Bank projects the recession in Latin America and the Caribbean will be the worst downturn since reliable data began in 1901, setting back progress on fighting inequality and Continue Reading
Iran says it sold gasoline to Venezuela at current prices
Iran has exported gasoline to Venezuela under a “commercial deal” and none of the trades was for free, news agency IRNA reported on June 28, citing Iranian Oil Minister Bijan Continue Reading
Owner Of Largest Refinery In India Stops Importing Venezuelan Oil
Reliance Industries, the owner of the largest refinery in India and the world, has stopped buying Venezuelan crude, according to unnamed sources in the know who spoke to Bloomberg, Last Continue Reading
Prices may be rising for world’s cheapest gas in Venezuela
President Nicolas Maduro said Wednesday he’s appointed a team of specialists to consider whether the price of the world’s cheapest gasoline in Venezuela should rise for drivers in the crisis-stricken Continue Reading
Exclusive: Venezuela’s PDVSA Weighs Plan to Pay for Refinery Work With Fuel, Byproducts-Sources
Officials from Venezuelan state oil company Petroleos de Venezuela [PDVSA.UL] have spoken with private contractors about paying for work fixing the country’s refineries with fuel and byproducts, a half dozen Continue Reading
Exclusive: Oil tankers carrying two months of Venezuelan output stuck at sea
Tankers carrying nearly two months’ worth of Venezuelan oil output are stuck at sea as global refiners shun the nation’s crude to avoid falling foul of U.S. sanctions, according to Continue Reading
Maduro Regime Courted Texas Lawmaker To Bring Big Oil Back To Venezuela
In 2017, Nicolas Maduro’s regime sought help from the then-Republican Congressman from Texas, Pete Sessions, to arrange a meeting between Venezuela’s state oil firm PDVSA and the head of ExxonMobil Continue Reading
Venezuela Is Still Exporting Oil To China Despite Sanctions
Venezuela is still sending oil to China despite stifling U.S. sanctions, Bloomberg has reported , citing shipping data from Kpler. As of this Monday, the data suggested, there were 3.3 Continue Reading
How China got shipments of Venezuelan oil despite U.S. sanctions
Last year, China replaced the United States as the No. 1 importer of oil from Venezuela, yet another front in the heated rivalry between Washington and Beijing. The United States Continue Reading
U.S. looking into reports of Haftar’s oil dealings with Venezuela
The United States is investigating and trying to get to the bottom of reports that Libya’s eastern-based commander Khalifa Haftar’s plane was in the Venezuelan capital Caracas last week, a Continue Reading
Country With World’s Largest Oil Reserves Has Only One Rig Left
The collapse in oil prices and the tightening U.S. sanctions against Venezuela have accelerated the decline of the oil industry in the country sitting on the largest crude oil reserves Continue Reading
Sanctions Force Chinese Companies To Reconsider Oil Trade With Venezuela
Chinese oil trading companies are mulling over a halt in chartering tankers that have called at Venezuelan ports over the past year as Washington steps up sanctions against the Caracas Continue Reading
US Plans Sanctions to Halt Iran-Venezuela Oil Trade
The US is preparing sanctions on as many as 50 oil and fuel tankers in an effort to cut off trade between Iran and Venezuela. The Trump administration is preparing Continue Reading
Venezuela’s new gasoline system fails to end epic lines
Hundreds of Venezuelans queued up in miles-long lines to try to fill their cars with subsidized gasoline over the weekend, a week after President Nicolas Maduro launched a new dual-price Continue Reading
U.S. Steps Sanctions On Venezuela As Oil Exports Hit 17-Year Low
The United States ratcheted up its sanctions on Venezuela’s oil industry on Tuesday, focusing this time on maritime companies and their assets who have been assisting the Latin American country Continue Reading
U.S. Steps Up Sanctions Against Venezuela’s Maritime Oil Trade
The Trump administration escalated sanctions against Venezuela’s oil industry, targeting four maritime companies for supporting the “illegitimate” government of President Nicolas Maduro. The Treasury’s Office of Foreign Assets Control also identified Continue Reading
U.S. Tightens Squeeze on Venezuela Oil Trade, Blacklisting Four Tanker Owners
The Trump administration Tuesday tightened its web of sanctions around the Maduro regime in Venezuela, blacklisting four companies allegedly involved in the country’s oil sector. By sanctioning the firms and Continue Reading
Iran ready to ship more fuel to Venezuela despite US ‘threats’
Iranian tankers carrying at least $45.5m worth of gasoline sailed into Venezuela without incident [Marcos Moreno/AP] Iran has said it will continue fuel shipments to Venezuela if Caracas requests more Continue Reading
Confusion Reigns in Venezuela on First Day of Higher Gas Prices
In the first day of higher gasoline prices in Venezuela, it’s hard to say who’s more confused. The attendants at the pump? Or the drivers. The good news is that there’s Continue Reading
Two Iranian tankers sail back after delivering fuel to Venezuela
Two Iranian tankers that delivered fuel to Venezuela as part of a five-vessel flotilla have begun to sail back, according to Refinitiv Eikon, as the government of the South American Continue Reading
Venezuela raises fuel prices after arrival of Iranian oil tankers
Venezuela will increase fuel prices in June, the president said, putting a limit on state subsidies that for decades had allowed citizens to fill their gas tanks virtually for free. Continue Reading
Trump’s sanctions are failing. Venezuela and Iran just proved it.
Iran and Venezuela have been moving closer together for years. The relationship began to flourish after Venezuela hosted the 2006 OPEC summit when then-Venezuelan President Hugo Chávez formed a personal Continue Reading
Exclusive: U.S. warns governments, firms against aiding Iran fuel shipments to Venezuela
Seeking to deter further shipments of Iranian fuel to Venezuela, the Trump administration has quietly warned foreign governments, seaports, shipping companies and insurers that they could face stiff U.S. sanctions Continue Reading
Iranian Oil Reaches Crisis-Stricken Venezuela
– Much to Turkey’s dismay, the EastMed gas pipeline project has been approved by the Cypriot cabinet, and studies are currently in progress. The consortium comprises Cyprus-Greece-Israel for the 1300-mile Continue Reading
One Trader Is Behind 32 Million Barrels of Venezuelan Oil Deals
Venezuela has grown increasingly dependent on one little-known trading firm in Mexico to help sell its crude abroad as the country faces U.S. sanctions starving it of oil profits in Continue Reading
Venezuela’s Orinoco Belt crude output drops to 235,000 b/d; lowest since September 2019
The production of crude by Venezuela’s state-owned PDVSA and its partners in the Orinoco Belt fell to 235,000 b/d, or 18% of the region’s maximum 1.3 million b/d capacity, on Continue Reading
U.S. takes aim at the power behind Venezuela’s Maduro: his first lady
Four years ago, a bit player in the Venezuelan leadership was arrested in Colombia and extradited to the United States to face drug charges. He proved to be an important Continue Reading
Venezuela’s PDVSA cuts crude blending, output as inventories rise – sources, documents
Venezuela’s state-run oil company Petroleos de Venezuela [PDVSA.UL] has cut crude production at several locations and its main crude blending plant has been operating intermittently this month due to mounting Continue Reading
Second Fuel Tanker From Iran Arrives in Venezuela
A second tanker dispatched by Iran was welcomed Monday by Venezuelan naval frigates and helicopters as it entered national waters, a lifeline for embattled Venezuelan President Nicolás Maduro that reflects Continue Reading
Iranian gasoline starts to arrive in fuel-starved Venezuela
A total of around 210,000 mt to arrive in five tankers Venezuela faces severe fuel shortages due to sanctions, coronavirus Gasoline exports help Iran ease domestic supply glut London — Continue Reading
Iranian fuel tanker has moored at Venezuela’s El Palito refinery: TV
The first of five Iranian tankers carrying fuel to Venezuela has moored at Venezuela’s El Palito refinery, Iran’s English-language Press TV reported on Monday. Iran is providing Venezuela with 1.53 Continue Reading
Venezuelans Now Lack Gas to Cook on Top of Gasoline Shortages
Venezuelans forced to queue for days to fill up their cars with gasoline are now facing a growing shortage of propane to cook after a processing plant caught fire and Continue Reading
The 5 Oil Tankers That Could Start A War
While a cold war with China is working its way towards the inevitable, another situation is developing that could lead to physical clashes between Iran and the United States over Continue Reading
Venezuela Supreme Court orders DirecTV to restore service
CARACAS (Reuters) – Venezuela’s Supreme Court on Friday ordered pay television service DirecTV to restore services in the South American country, after owner AT&T Inc said earlier this week it Continue Reading
U.S. Seeks Ways to Halt Iran’s Oil Sales to Venezuela
The Trump administration is weighing new sanctions and other legal steps to disrupt Iranian oil exports to Venezuela, U.S. officials said, in response to what the U.S. considers the Islamic Continue Reading
From Nearly Free to Out-of-Reach: Gasoline’s Crazy Price Swing in Venezuela
A dollar could once theoretically buy about 5 billion gallons of gasoline in Venezuela — more than enough to supply the state of Michigan for a year. Now, a dollar Continue Reading
US Supreme Court declines to hear Venezuela appeal in case seeking Citgo assets
The US Supreme Court has denied Venezuela’s request to reconsider a lower court’s decision allowing a PDVSA creditor to go after US refiner Citgo, its most valuable overseas asset. Receive Continue Reading