Felicity Bradstock is a freelance writer specialising in Energy and Finance. She has a Master’s in International Development from the University of Birmingham, UK. Venezuela is ready to ramp up Continue Reading
Decades of corruption, mismanagement, and poor maintenance have led to a huge drop in Venezuela’s refining capacity. Iran has helped Venezuela to ease its still ongoing fuel crisis. Venezuela needs Continue Reading
Chevron Corp has asked the U.S. government to expand its license to operate in Venezuela after the oil major agreed with state-run PDVSA to revamp joint ventures in the sanctioned Continue Reading
The bolivar is plummeting, breaking a rare stretch of stability for Venezuela’s battered currency. It has lost a third of its value so far this month, hitting 9.33 bolivars per Continue Reading
Europe is quickly running out of Russian energy alternatives. Venezuela has just halted oil shipments to Europe, saying it is done with oil-for-debt deals. Venezuela is now looking for refined Continue Reading
Venezuela has suspended new crude shipments to Europe under an oil-for-debt deal and has asked Italy’s Eni and Spain’s Repsol to provide it with fuel in exchange for future cargoes, Continue Reading
Venezuela’s state oil firm PDVSA diverted two crude cargoes set to discharge at Cuba’s Matanzas terminal, Refinitiv Eikon data and company documents showed on Tuesday, as a fire that devastated Continue Reading
Outages disrupting Venezuela’s power and gas supplies to state-run energy firm PDVSA hit July oil exports, contributing to a 27% fall from the previous month, according to Refinitiv Eikon vessel Continue Reading
Venezuela’s crude oil exports fell in July, Refinitiv Eikon data showed on Tuesday, as oil markets are on the prowl for additional oil supplies to ease the tight market. Venezuela’s Continue Reading
Iran is increasing supplies of a key crude grade that Venezuela is using to boost its aging refineries’ productivity and free domestic oil for exports, documents seen by Reuters on Continue Reading
In the first diplomatic contact between the U.S. and Venezuela since Trump, Biden dispatched a diplomatic mission to meet with President Maduro in early March 2022. The mission was among Continue Reading
A new battle for control of Citgo Petroleum, the eighth largest U.S. oil refiner and Venezuela’s foreign crown jewel, could soon be unleashed under a proposed management shake-up by the Continue Reading
U.S. refiner Citgo Petroleum is willing to resume imports of Venezuelan crude, suspended since 2019 by Washington’s sanctions on its parent company PDVSA, if the U.S. government authorizes the flow, Continue Reading
The first Venezuelan crude cargoes sent to Europe in two years helped lift the OPEC nation’s oil exports by 61% last month after a series of setbacks earlier in the Continue Reading
Production at Venezuela’s largest refinery, which can process about 645,000 barrels of oil per day (bpd), was halted late on Saturday by an electrical fault that caused a blackout, according Continue Reading
Venezuela’s economy is forecast to expand at its fastest pace in 15 years, marking a rebound for a country that recently emerged from the deepest recession in Latin America. Gross Continue Reading
A 650,000-barrel-cargo of Venezuela’s oil chartered by Italy’s Eni (ENI.MI) is about to set sail carrying the first export of crude from the U.S.-sanctioned country to Europe in two years, Continue Reading
June 11 (Reuters) – Iran and Venezuela on Saturday signed a 20-year cooperation plan, according to live coverage on Iranian state TV. The plan includes cooperation in the fields of Continue Reading
Venezuela’s PDVSA has started asking spot market buyers of its crude oil to pay in advance for the shipments after several recent payment defaults, Reuters has reported , citing several Continue Reading
Italian oil company Eni SpA and Spain’s Repsol SA could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar Continue Reading
The U.S. Treasury Department on Friday renewed a license to oil producer Chevron Corp (CVX.N) to operate in U.S.-sanctioned Venezuela through the end of November under the same restricted terms Continue Reading
Rumors that the U.S. would lift sanctions against Venezuela in order to halt the oil price rally have been circulating since Biden sent a delegation to Caracas in March. The Continue Reading
Highlights US allows Chevron to renegotiate license with PDVSA Lawmakers blast change in policy toward Venezuela Calls continue for action to aid domestic oil output Details remained scant May 18 Continue Reading
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
