ConocoPhillips has embargoed two cargoes of crude oil and fuel at a storage terminal in Aruba operated by Venezuelan PDVSA’s U.S. subsidiary Citgo, Reuters reports citing the Aruba government. The Continue Reading
There is enough oil supply in the global market to make up for potential fuel disruptions due to U.S. oil producer ConocoPhillips’ legal actions against Venezuelan state oil company PDVSA, Continue Reading
With Venezuela’s exports of crude on the brink of collapsing below 1m barrels a day to historic lows, the bull case for energy has additional support as creditors of the Continue Reading
Amid a desperate economic and humanitarian crisis in Venezuela, its socialist leader Nicolas Maduro is trying to shore up support from the few allies it has left, and has had Continue Reading
ConocoPhillips has begun the process of recovering over $2 billion in Venezuelan global assets that was awarded last month by an international trade court, but is “not close” to locating Continue Reading
Venezuela’s state-run oil firm PDVSA has bought nearly $440 million worth of foreign crude and shipped it directly to Cuba on friendly credit terms – and often at a loss, Continue Reading
Nobody in Venezuela seriously doubts who will win the presidential election the country holds next weekend; certainly not President Nicolás Maduro. “The revolution is going to record the biggest victory Continue Reading
ConocoPhillips has seized the oil product inventory of Venezuela’s state oil company PDVSA following the issuance of two court orders granting it this right as part of efforts to enforce Continue Reading
Ten oil tankers remain anchored Monday at ports throughout the Caribbean, awaiting payment from Venezuelan state oil company PDVSA to discharge 3.124 million barrels of refined products, according to sources. Continue Reading
Death spiral is an overused term, but it is justified when describing Venezuela’s oil industry right now. Energy consumers and investors should pay attention. Though production at national oil company Continue Reading
