The top U.S. buyers of Venezuelan oil are in the unusual position of trying to return millions of barrels of crude they need but cannot accept because of U.S. sanctions Continue Reading
Venezuela watchers have been talking about the “collapse” of the country for a long time. They were mainly using the word metaphorically, applying it to statistical oddities such as fast Continue Reading
Sporadic looting and spontaneous protests. Desperate patients begging doctors to be kept alive. Residents bracing for wider attacks on markets and restaurants after the sun goes down. Sunday was the Continue Reading
At least 15 people have died as a result of a massive electricity outage that has crippled Venezuela, as doctors struggled to assist patients, telecommunications networks were wiped out and Continue Reading
The United States is pressing India to stop buying oil from Venezuelan President Nicolas Maduro’s government, Washington’s top envoy for Venezuela said, as the Trump administration this week threatened more Continue Reading
The narrative seemed to fit Venezuela’s authoritarian rule: Security forces, on the order of President Nicolás Maduro, had torched a convoy of humanitarian aid as millions in his country were Continue Reading
Crude oil production capacity in Iran and Venezuela will fall by a combined 1.76 million b/d if US sanctions on these countries remain in place, the International Energy Agency said Continue Reading
Venezuela must pay ConocoPhillips more than $8 billion to compensate for the 2007 expropriation of oil assets by the late socialist leader Hugo Chavez, the World Bank ruled on Friday, Continue Reading
The United States is giving individuals and entities more time to wind down certain financial contracts or other agreements related to debt involving Venezuela’s state-owned oil company, the U.S. Treasury Continue Reading
The biggest blackout in Venezuela’s history stretched to about 22 hours Friday, as dialysis patients went without treatment, airlines canceled flights and factories and schools shut their doors in a Continue Reading
Venezuela’s power supply remained patchy on Friday after the worst blackout in decades paralyzed most of the country, exacerbating hardship for millions of people already suffering from hyperinflation and widespread Continue Reading
Venezuela’s state-run oil company PDVSA said on Thursday it has not halted business with maritime contractor Bernhard Schulte Shipmanagement (BSM), after the German firm notified it would remove crews operating Continue Reading
Venezuela’s struggling oil company PDVSA declared a maritime emergency after a German company operating a portion of its tanker fleet said it planned to return ten vessels because of unpaid Continue Reading
Nearly six weeks after imposing sweeping sanctions on PDVSA, Venezuela’s state-owned oil company, and apparently no closer to removing President Nicolas Maduro from office, the Trump administration is considering additional Continue Reading
A widespread blackout enveloped much of Venezuela in darkness on Thursday night, stopping subway service in the capital and causing problems around the country, which has been plagued by power Continue Reading
Nicolas Maduro’s staunchest international ally—Russia—reaffirmed last week its full support to the Socialist leader’s regime and his efforts to prevent what Moscow sees as interference in Venezuela’s domestic affairs. At Continue Reading
Plans by the German operator of a portion of the Venezuelan state oil company’s tanker fleet to return 10 vessels because of unpaid fees caused the maritime unit of the Continue Reading
The Russian accounts of Venezuelan companies, including state oil firm PDVSA, will move to the Russian Financial Corporation Bank (Rusfincorp), which is sanctioned by the United States, the RIA news Continue Reading
Opposition leader Juan Guaidó staged a dramatic return to Venezuela on Monday despite government threats to arrest him, energizing the country’s opposition and raising the stakes in the political showdown Continue Reading
The US is discussing emergency aid for Venezuela should the regime of Nicolás Maduro fall, including potential financial assistance alongside official loan programmes from the IMF and other institutions. With Continue Reading
Venezuelan opposition leader Juan Guaidó said he plans to return to his home country on Monday in a high-stakes strategy that directly challenges President Nicolás Maduro’s authority and could end Continue Reading
Venezuela is scrambling to find buyers for its oil, hoping to keep revenue streams alive even as Maduro loses control of Citgo. The U.S.-based subsidiary of PDVSA officially severed ties Continue Reading
Russian Foreign Minister Sergei Lavrov said on Friday that Moscow was helping Venezuela with supplies of wheat, hours before a Reuters reporter saw a Venezuela-bound cargo ship carrying Russian wheat Continue Reading
Venezuelan President Nicolas Maduro has ordered state oil company PDVSA’s office in Lisbon to be relocated to Moscow, Vice President Delcy Rodriguez said on Friday, a move she said was Continue Reading
At least 8 tons of gold were removed from the Venezuelan central bank’s vaults last week, an opposition legislator and three government sources told Reuters, in the latest sign of Continue Reading
The potential collapse of President Nicolás Maduro’s regime poses a threat to Cuba, which relies on Caracas for about 28% of the island’s oil needs. Venezuela’s opposition says the government’s Continue Reading
Venezuela’s state-owned oil company PDVSA now has 10.8 million barrels of crude sitting dockside without a buyer due to US sanctions, according to reports from terminals reviewed by S&P Global Continue Reading
In November 2017, Harry Sargeant III, a wealthy American businessman, flew to Venezuela to see about buying some oil. Sargeant, the former finance chairman of the Florida Republican Party, was Continue Reading
Russian companies in Venezuela are not experiencing any problems resulting from the escalation in the political situation in the country and have not incurred any losses on the oil they Continue Reading
Venezuela, under U.S. embargo, has shifted some of its crude exports from American refiners to India and Europe, according to the country’s oil minister and ship-tracking firms. But it will Continue Reading
At least 8 tons of gold were removed from the Venezuelan central bank’s vaults last week, an opposition legislator and three government sources told Reuters, in the latest sign of Continue Reading
U.S. refiner Citgo Petroleum Corp is formally cutting ties with its parent, state-run oil firm Petroleos de Venezuela SA, to meet U.S. sanctions imposed on the OPEC country, two people Continue Reading
The U.S. sanctions on Venezuela from late last month cut off more heavy and sour crude oil supply to the global market, leading to the lowest premium of quality light Continue Reading
The United States announced new sanctions against Venezuelan government officials this week as the situation in the country that’s home to the world’s largest oil reserves continues to escalate. The Continue Reading
Venezuelan state PDVSA has restarted its 202,000 b/d Petrocedeno extra heavy crude upgrader at 118,000 b/d, or 58.4% of capacity, despite the country’s deficit of naphtha, a company technical report Continue Reading
Citgo is formally cutting ties with its parent company PDVSA, in order to avoid the impact of US sanctions on the Venezuelan state-owned oil company and keep Citgo’s refineries and Continue Reading
The US is set to impose “even stronger sanctions” on Venezuela President Nicolas Maduro’s financial networks, likely further hindering crude oil production and exports as US sanctions on state-owned oil Continue Reading
PDVSA is offering 5.8 million barrels of crude oil and diluted spot crude because of US sanctions, according to sources and PDVSA tenders. Receive daily email alerts, subscriber notes & Continue Reading
The Trump administration imposed sanctions on allies of Venezuelan President Nicolás Maduro and urged regional governments to isolate his regime after a weekend mission to deliver humanitarian aid sparked deadly Continue Reading
Vice President Pence and Venezuelan opposition leader Juan Guaidó greet each other at the Lima Group meeting in Bogota, Colombia. (Luisa Gonzalez/Reuters) February 25 at 8:24 PM After a weekend Continue Reading
Jan crude imports from Iran fall 50% on year to 379,000 b/d US crude imports zero in Jan; Russia remains top supplier Singapore — China’s crude imports from Venezuela surged Continue Reading
Venezuelan President Nicolas Maduro faces a new round of sanctions, regional leaders said on Sunday, after his troops repelled foreign aid convoys, with Brazil branding it criminal and urging allies Continue Reading
“We will present firm positions which are an escalation of diplomatic measures, and political measures including the use of force for blocking the humanitarian aid and generating an unprecedented violence,” Continue Reading
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Opposition figures are vague about their plans for Saturday but they appear to hope for a mass mobilization of Venezuelans on both sides of the border that will descend on Continue Reading
The ongoing power struggle in Venezuela has extended to a row over who is managing its state oil firm PDVSA and its key asset, U.S. refiner Citgo Petroleum—and this could Continue Reading
As Venezuela emerges from its dire political, economic and humanitarian crisis, its lifeblood oil industry will play a central role in steering the country toward recovery. But state oil company PDVSA Continue Reading
US Vice President Mike Pence is scheduled to visit Colombia on Monday to bolster the Trump administration’s push for regime change in Venezuela as US sanctions on state-owned oil company Continue Reading
US sanctions could more than halve Venezuela’s crude production by the end of the year, hitting heavy oil joint ventures in the Orinoco Belt and fields operated solely by state Continue Reading
Asdrubal Chavez, chief executive of Houston-based Citgo Petroleum Corp, boarded the Venezuelan-owned firm’s corporate jet in Caracas on Jan. 30, after meeting with top officials of the embattled administration of Continue Reading
