While the US is allowing Chevron and four US oil companies to continue to operate in Venezuela to prevent the complete collapse of the South American nation’s oil sector, recovery Continue Reading
Venezuela’s government and its oil company PDVSA have offered to pay suppliers and contractors into accounts in China using the yuan currency, five people familiar with the matter said. The Continue Reading
China’s crude imports from Saudi Arabia surged 76% year on year to hit new high of 1.99 million b/d in October, while there were no arrivals from Venezuela in the Continue Reading
A US appeals court Thursday denied Venezuela’s request for it to reconsider its ruling allowing a PDVSA creditor to go after US refiner Citgo, its most valuable foreign asset. The Continue Reading
U.S. sanctions on Venezuela have been squeezing the life out of its economy in an attempt to remove the government of Nicolas Maduro from power, but so far those sanctions Continue Reading
Venezuela’s state-held oil firm PDVSA has cut its outstanding debt to the largest Russian oil producer, Rosneft, to below US$1 billion, Russia’s oil giant, one of the few companies still Continue Reading
The glut of oil inventory that Venezuela has been nearly choking on in recent months appears to be finally draining, according to Reuters data, as the crisis-stricken country managed to Continue Reading
The power supply crisis in Venezuela is highly likely to continue in the coming months, affecting everyday life and paralyzing oil production in the country sitting on top of the Continue Reading
PDVSA’s 2020 bond payment that is due today is largely expected to go into default by tomorrow, but the collateral used to back the bond, the US-based Citgo refinery, may Continue Reading
The U.S. Treasury is blocking for 90 days creditors from seizing shares in Venezuela’s U.S. subsidiary Citgo, temporarily shielding the prized Venezuelan asset in a win for Venezuela’s opposition and Continue Reading
