An explosion at a 20-inch pipeline that provides natural gas to the PIGAP II gas reinjection plant in northern Monagas state in Venezuela was the result of a “terrorist attack,” Continue Reading
Venezuelan farmers said that they had asked the government to allow them to import diesel themselves to alleviate shortages of the fuel that are hindering food production and distribution. Diesel Continue Reading
Fearful of being robbed and scared of losing his place in a miles-long line for diesel, Daniel Trocel spent the entire night in his truck parked along the edge of Continue Reading
Since the U.S. presidential election started in earnest toward the end of 2020 there has been considerable speculation regarding President Biden’s plans for crisis-torn Venezuela. President Biden has flagged that Continue Reading
The Venezuelan National Assembly will consider reforms to the country’s oil law that will open the door to “new business models,” President Nicolas Maduro said this week, as quoted by Continue Reading
Venezuela’s crude oil exports rose last month despite Washington imposing new sanctions in January on several trading houses that worked with Caracas to export its oil. According to Tanker Trackers Continue Reading
Venezuela oil exports dropped in February after the U.S. sanctioned key trading houses and individuals that had been propping up exports of the commodity that bankrolls President Nicolas Maduro’s regime. Crude Continue Reading
Venezuela and Iran, both sanctioned by the United States, have found a way to help each other as shipping companies stay away from dealings with the two oil-producing countries for Continue Reading
Venezuela is shipping jet fuel to Iran in return for vital gasoline imports for the South American nation as part of a swap deal agreed by the two state-run oil Continue Reading
Francisco Dallmeier is the head of the Center for Conservation and Sustainability of the Smithsonian Conservation Biology Institute. Cristina V. Burelli is executive director of V5 Initiative and SOSOrinoco.org. The Continue Reading
The European Union on Monday imposed sanctions on 19 more officials in Venezuela accused of undermining democracy or rights abuses in the crisis-torn South American country. EU foreign ministers targeted Continue Reading
In a surprise move, President Biden has withdrawn U.S. support for a Saudi-led military campaign against Houthi rebels in war-torn Yemen, describing the country’s bitter civil war as a humanitarian Continue Reading
Aframax Caribbean-USGC runs down 75% in 2020 from 2016 Sanctions lifting would release 500,000 b/d of crude Guyana provides potential return of Caribbean Suezmax business A partial easing of US Continue Reading
Venezuela has jailed for five years two former managers at its state oil firm PDVSA for providing sensitive data about Venezuelan oil operations to the United States, Venezuela’s attorney general Continue Reading
Harsh U.S. sanctions, a crumbling economy, and near collapsed petroleum industry have done little, if anything, to loosen President Maduro’s grip on power in Venezuela. It appears that one of Continue Reading
Average crude output by Venezuela’s state-owned PDVSA and its foreign partners in January rose to 520,000 b/d, or 100,000 b/d more than December, according to daily production reports reviewed by Continue Reading
Chevron and Reliance Industries are meeting with US State Department officials to request a rollback of some Trump-era restrictions against Venezuela’s oil industry. (Bloomberg) — Chevron Corp. and Reliance Industries Continue Reading
Despite outside assistance from Russia, China and Iran, the embattled socialist regime of President Maduro has proven incapable of rebuilding Venezuela’s once-mighty petroleum industry. According to the latest OPEC Monthly Continue Reading
January 2021 is still far from over yet the pages of Oilprice already boast 6 articles about Guyana being the hottest drilling spot in the world. This is hardly surprising, Continue Reading
The country with the largest proven oil reserves in the world, clocking in at a whopping 299,953,000,000 barrels of proven oil, is currently suffering a fuel shortage so great that Continue Reading
It may be the oil market’s worst-kept secret: Millions of barrels of Venezuelan heavy crude, embargoed by the U.S., have been surreptitiously going to China. The cat-and-mouse games that avoid detection and Continue Reading
The Trump administration issued a parting shot to Venezuelan President Nicolás Maduro on Tuesday, announcing a sweeping round of stiff financial sanctions that target a network accused of moving oil Continue Reading
The US Treasury sanctioned a series of European oil traders and crude tankers that allegedly helped a Mexican network work with Venezuela to evade US sanctions and move its crude Continue Reading
Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse Continue Reading
The island nation of Palau says a tanker that recently loaded Venezuelan crude was using a false signal to disguise its identity, potentially putting the Pacific country in the crosshairs Continue Reading
Venezuelan Foreign Minister Jorge Arreaza on Saturday criticized a U.S. court ruling authorizing a sale of the shares in the parent company of U.S. refiner Citgo Petroleum Corp, calling it Continue Reading
Venezuela is opening up to foreign investment in its oil industry, President Nicolas Maduro said this week, in a bid to reverse a catastrophic drop in its output under the Continue Reading
The fate of US refiner Citgo Petroleum remains in limbo following a federal court ruling late Jan. 14 that reaffirms the eventual auction of shares of Citgo’s Venezuelan holding company. Continue Reading
Chanting anti-American slogans, thousands of Iraqis converged on a landmark square in central Baghdad on Sunday to commemorate the anniversary of the killing of a powerful Iranian general and a Continue Reading
Venezuela’s rapidly disintegrating oil industry, which is the backbone of its economy, is a mere shadow of what it once was, despite the founding OPEC member possessing the world’s largest Continue Reading
Venezuela’s crude oil and refined product exports plummeted in 2020 to their lowest level in 77 years, as the U.S. continued to step up sanctions against Nicolas Maduro’s regime and Continue Reading
Venezuela’s oil industry will likely continue to deteriorate in 2021, with the country’s roughly 300 billion barrels of crude in reserves left largely untapped even if oil prices move higher, Continue Reading
Venezuelan oil exports plummeted this month as U.S. sanctions have left some of the South American country’s cargoes stranded in Asia and competition with fellow OPEC+ members is set to Continue Reading
In January 2019, the Trump administration imposed sanctions on Venezuela’s oil shipping sector in an ongoing bid to force President Nicolás Maduro from power. The sanctions deepened Venezuela’s already severe Continue Reading
After five years of plunging oil production and experiencing the near-collapse of its economically crucial petroleum industry and the worst peacetime economic crisis of the modern age, there are signs Continue Reading
In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s Continue Reading
The U.S. government this week extended the term of a protection measure against Citgo creditors until July next year, Reuters has reported , noting the measure effectively bars creditors from Continue Reading
The FSO Nabarima listing in the Gulf of Paria on October 16 (Photo: Fishermen and Friends of the Sea) Venezuelan state oil company Petroleos de Venezuela has begun transferring crude Continue Reading
Tropical rains have washed away most outward traces of the oil spill that ravaged Rio Seco this fall. But the fishing village in the shadow of Venezuela’s main refining hub Continue Reading
Turnout is predicted to be low as opposition supporters are urged to stay at home President Nicolás Maduro’s party and his allies have won in Venezuela’s legislative elections that were Continue Reading
Iran is sending its biggest fleet yet of tankers to Venezuela in defiance of U.S. sanctions to help the isolated nation weather a crippling fuel shortage, according to people with Continue Reading
Venezuela’s state oil company PDVSA suspended gasoline production at the El Palito refinery after a problem with a valve led to a fire, unnamed sources familiar with the incident told Continue Reading
Venezuela’s oil exports doubled in November, data from PDVSA and Refinitiv Eikon showed on Wednesday. Venezuela’s crude oil exports were less than 370,000 barrels per day in October, on average. Continue Reading
Venezuela boosted its crude oil exports nearly threefold in November to more than 500,000 barrels per day (bpd), including by hiding the true identity of tankers to avoid detection, Bloomberg Continue Reading
The international media think tanks and government agencies have discussed at length the near failure of Venezuela, once Latin America’s most stable and developed nation, and the emergence of this Continue Reading
It was not too long ago that copious oil reserves such as the 303 billion barrels located in Venezuela, which are the world’s largest, were viewed as a tremendous economic Continue Reading
FILE PHOTO: U.S. Secretary of State Mike Pompeo speaks to the media prior to meeting with Kuwait’s Foreign Minister in Washington, D.C., U.S., November 24, 2020. Saul Loeb/Pool via REUTERS Continue Reading
Jorge Arreaza/Venezuela Foreign Minister, via Associated Press CARACAS, Venezuela — A Venezuelan judge on Thursday found six American oil executives guilty of a wide-ranging corruption scheme and immediately sentenced them Continue Reading
Venezuela’s regime has recently arrested oil workers or retired oil workers who have dared to expose the corruption and mismanagement at its state oil firm PDVSA and its dire financial, Continue Reading
Fuel shortages in Venezuela are so bad amid the deepening crisis at its state oil firm that Venezuelans are stealing crude oil from idle oilfields and processing it at home Continue Reading
