Venezuela, Once an Oil Giant, Reaches the End of an Era
For the first time in a century, there are no rigs searching for oil in Venezuela. Wells that once tapped the world’s largest crude reserves are abandoned or left to Continue Reading
US Treasury extends Venezuela order blocking potential Citgo seizure through January
Protects refining assets after PDVSA missed bond payments Platts Analytics estimates September output at 300,000 b/d Washington — The US Department of the Treasury on Oct. 6 again extended for Continue Reading
Venezuela Planning New 100,000-Bolivar Bills Worth Just $0.23
Venezuela has begun to import banknote paper and is mulling plans to print bills with larger denominations as hyperinflation causes shortages of cash, according to six people with knowledge of Continue Reading
Is Venezuela’s Oil Production Poised For A Comeback?
The flow of positive news regarding the future of PDVSA, Venezuela’s national oil company and cash cow, has been almost non-existent since February 2018. Rightly so, given that almost every Continue Reading
Venezuela’s Oil industry May Never Recover
Despite President Maduro’s claims of a looming recovery for Venezuela’s economically crucial oil industry in early 2020 production keeps declining. Even measures aimed at revitalizing the industry and circumventing U.S. Continue Reading
Third Iranian fuel tanker arrives in gasoline-starved Venezuela’s waters
The final vessel in a flotilla of three Iranian fuel tankers entered gasoline-starved Venezuela’s waters on Saturday, in the latest sign of cooperation between the two countries amid protests over Continue Reading
Venezuela’s Food Chain Is Breaking, and Millions Go Hungry
Maria Planchart once lived comfortably in Caracas and had aspirations of being a lawyer. In this WSJ Films documentary, we follow her struggle to feed her family. Ana Nuñez, a Continue Reading
Venezuela Sees Oil Revenue Fall By 99% As U.S. Sanctions Sting
Venezuela’s foreign currency revenues—almost all of which come from crude oil sales—have plunged by 99 percent since 2014, Nicolas Maduro said , blaming most of the losses on the “persecution Continue Reading
Largest Indian Refiner Switches From Venezuelan To Canadian Crude
Reliance Industries, owner of India’s biggest refinery, has started buying Canadian heavy crude to replace Venezuelan imports on fears that the U.S. could take sanction action against the company. According Continue Reading
Major Refiner to Buy Canadian Crude on Venezuela Concerns
Venezuela’s dwindling oil exports were dealt another blow as one of India’s top refiners secured millions of barrels of Canadian crude on concern that the U.S. is poised to step Continue Reading