Venezuela’s widespread gasoline shortages are starting to affect some cities in Colombia, where drivers depend on cheap fuel smuggled in from their socialist-governed neighbor. Residents of the Colombian border city Continue Reading
On May 16th, Iván Freites, head of the Oil Workers Union of Falcon State, denounced that the Paraguaná refinery is producing 170,000 gasoline barrels per day, when it should be Continue Reading
A meeting between the Venezuelan government and the opposition to resolve the country’s deep political crisis ended without agreement on Wednesday, the opposition said, although negotiators left the door open Continue Reading
Tankers carrying gasoline and ships transporting food for Venezuela were sabotaged last week to prevent them from reaching Venezuela, Nicolas Maduro said in a televised speech late on Monday. “Last Continue Reading
Venezuela’s economy contracted 19.2% in the first nine months of 2018 from the year-earlier period, as private consumption fell sharply and inflation soared in the crisis-racked nation, according to the Continue Reading
Two major shipping lines this month have raised their rates for transporting goods from the United States to Venezuela, according to three industry sources and two documents, as U.S. sanctions Continue Reading
The Venezuelan government and opposition will return to Oslo this week for a second round of talks as diplomatic efforts to find a solution to the country’s political crisis gather Continue Reading
A closed gas station in the outskirts of Caracas, Venezuela. (CNN)For many Venezuelans, oil is a birthright in the country blessed with the largest crude reserves in the world. Despite Continue Reading
US sanctions on oil-rich Venezuela appear to be taking hold, resulting in mile-long lines for fuel in the South American nation’s second-largest city, Maracaibo. One driver said he has been Continue Reading
Three PDVSA tankers that are late with payments to German operator Bernhard Schulte Shipmanagement (BSM) are being detained, according to Reuters sources, as BSM gives up on waiting for payments Continue Reading
The United States told some large trading houses this week they should stop trading jet fuel with Venezuela or face sanctions, ratcheting up pressure aimed at removing Venezuelan President Nicolas Continue Reading
German shipping firm Bernhard Schulte Shipmanagement (BSM) has moved to legally detain three of Venezuelan PDVSA’s oil tankers to collect on late payments owed to it by the state-run oil Continue Reading
Venezuela has increased oil supplies to ally Cuba in May four-fold as US sanctions severely limit exports to other countries, PDVSA documents show. According to the documents, seen by S&P Continue Reading
The United States has resumed—at least for the time being—oil imports from Venezuela, according to new data published by the Energy Information Administration (EIA). The United States saw a decrease Continue Reading
Venezuelan army troops have been deployed aboard 15 oil tankers owned by state-owned PdV to fend off mutinies and ensure that cargoes destined mainly for Cuba are delivered, according to Continue Reading
It was a daring gambit: Juan Guaidó, Venezuela’s opposition leader, stood by a military base alongside dozens of uniformed officers and political allies, calling for a military uprising against President Continue Reading
The U.S. is preparing measures ranging from criminal charges to sanctions against people it believes to be involved in Venezuela’s military-run emergency food program, according to U.S. officials, part of Continue Reading
Venezuelans are having their fuel rationed with the rationing overseen by the military, Reuters reported on Sunday as fuel shortages begin to bite deeper. As local crude oil production continues Continue Reading
Angry drivers queued for hours in towns across Venezuela on Friday as fuel shortages worsened in the South American nation following a plunge in gasoline imports and a stoppage at Continue Reading
Zimbabwe’s collapse under Robert Mugabe. The fall of the Soviet Union. Cuba’s disastrous unraveling in the 1990s. The crumbling of Venezuela’s economy has now outpaced them all. Venezuela’s fall is Continue Reading
Venezuelan state-owned PDVSA is offering 6.4 million barrels of discounted crude oil to Russian, Chinese and Indian companies, according to a company official and reports seen by S&P Global Platts. Continue Reading
Another problem has been added to Venezuela’s growing list of woes: gasoline import shortages that have caused lines at gas stations, Reuters reports , adding that local production has slumped Continue Reading
Gas station lines reappeared across oil-rich but crisis-stricken Venezuela this week as gasoline imports plunged and the country’s second-largest oil refinery halted operations. Shortages of motor fuel have become a Continue Reading
Venezuela has stopped upgrading crude oil as PDVSA finds itself without buyers in the wake of US sanctions, according to sources who spoke to Reuters. Venezuela hasn’t shut down its Continue Reading
Venezuela would like Moscow to help it restructure its external debt to other countries, Russia’s RIA news agency cited Venezuela’s ambassador in Geneva as saying on Friday. Asked whether sanctions-hit Continue Reading
Venezuela’s ad-hoc board of directors for state oil company PDVSA, appointed by opposition leader Juan Guaido, said on Thursday it has made an interest payment on its bond maturing in Continue Reading
Venezuela’s crucial oil upgraders have stopped processing heavy crude because a decline in exports due to U.S. sanctions has left the OPEC nation without sufficient storage space, seven sources familiar Continue Reading
The Department of Homeland Security said it was suspending all commercial passenger and cargo flights between the U.S. and Venezuela, citing safety concerns stemming from political instability in the South Continue Reading
Venezuela’s oil production held up last month, but appears to be falling off a cliff once again. Output in Venezuela rebounded a bit in April, following the horrific electricity blackouts Continue Reading
Juan Guaido, the leader of the Venezuelan opposition, has instructed his envoy to the United States Carlos Vecchio to start talks with the U.S. military for help in overthrowing the Continue Reading
The US Treasury Department on Friday announced sanctions on two companies and two tankers it said had delivered crude oil from Venezuela to Cuba from late 2018 through March 2019. Continue Reading
US Secretary of State Mike Pompeo plans to discuss Russia’s ongoing support for Venezuelan President Nicolas Maduro, including ongoing oil and product trade that the Trump administration views as undermining Continue Reading
Two Venezuelan lawmakers sought refuge at foreign embassies in Caracas on Thursday, as the government of President Nicolas Maduro cracked down on allies of opposition leader Juan Guaido who supported Continue Reading
Venezuela’s National Assembly, led by opposition leader Juan Guaido, on Tuesday authorized an interest payment on an overdue bond, in an apparent bid to keep the country’s crown jewel overseas Continue Reading
THE FAILURE of an uprising against Venezuela’s authoritarian regime last week has left opposition leaders and their foreign supporters debating what went wrong. Did the generals and other senior regime Continue Reading
There was a time when Venezuela led Latin America in the battle against malaria. No longer. The collapse of the country’s economy and health system, combined with a boom in Continue Reading
Venezuela’s state-run oil company PDVSA said on Friday it would install 20 generators to make a crude project partly owned by Chevron “independent” of the national grid, after a wave Continue Reading
Venezuela’s opposition came tantalizingly close to removing President Nicolás Maduro from power this week, according to more than a dozen people involved in talks to oust him. But in the Continue Reading
As opposition leader Juan Guaidó failed to ignite a military uprising in Venezuela this week, his allies in Washington placed the blame not only on troop loyalty toward President Nicolás Continue Reading
Curacao’s state-owned Isla oil refinery, which is operated by Venezuelan state-run company PDVSA, has received an exemption from U.S. sanctions on PDVSA, the Caribbean island’s government said in a statement Continue Reading
The United States in January imposed sanctions on Venezuela’s most important global business – producing and selling crude oil – as the Trump administration ratcheted up its bid to force Continue Reading
The oil markets are shrugging off the threat to global oil supplies from Iran and Venezuela, with rising U.S. inventories assuaging concerns about market tightness. The failed coup attempt in Continue Reading
Thousands of marchers began street protests on Wednesday to try to force leftist Venezuelan President Nicolas Maduro from power as tension grew between Russia and the United States over the Continue Reading
Venezuelan opposition leader Juan Guaido on Tuesday made his strongest call yet to the military to help him oust President Nicolas Maduro, and violence broke out at anti-government protests as Continue Reading
Tighter U.S. sanctions on Iranian oil planned for May are adding to a wealth of factors curbing the global supply of heavy-medium crude, driving up prices for scarcer barrels and Continue Reading
Erik Prince – the founder of the controversial private security firm Blackwater and a prominent supporter of U.S. President Donald Trump – has been pushing a plan to deploy a Continue Reading
Tighter U.S. sanctions on Iranian oil planned for May are adding to a wealth of factors curbing the global supply of heavy-medium crude, driving up prices for scarcer barrels and Continue Reading
US sanctions came into effect Sunday to block Venezuela’s economic lifeline of oil exports, in what Washington hopes will be a major blow in its fledgling campaign to topple leftist Continue Reading
Massive blackouts in Venezuela in March and April have drastically reduced oil production at Chevron’s biggest oil joint venture in the country, Bloomberg reported on Thursday, citing data that it Continue Reading
Venezuela will soon pass the point at which it will be unable to recover lost oil production if U.S. sanctions persist into next year, the federal government said on Wednesday. Continue Reading
