Opposition leader Juan Guaidó, whom the U.S. considers Venezuela’s legitimate president, during a rally last month. Creditors from hedge funds to oil companies are moving closer to seizing billions of Continue Reading
In a hard-fought campaign Democrat Joe Biden won the November 2020 U.S. presidential race beating incumbent Donald Trump. There were considerable fears in the run-up to the election that a Continue Reading
The US Treasury said Nov. 17 that Chevron and top oilfield services firms can remain in Venezuela until June, extending a wind-down deadline that was set to expire on Dec. Continue Reading
Chevron Corp.’s willingness to keep a foothold in oil-rich Venezuela will now be a thorny political issue for President-elect Joe Biden to sort out. The U.S. Treasury Department extended until June 3 its Continue Reading
The head of Venezuela’s state oil company PDVSA, Asdrubal Chavez, and Venezuelan vice-president and economy minister Delcy Rodriguez are visiting Russia today to “deepen strategic alliances,” Reuters reported , citing Continue Reading
In desperation, Maduro’s autocratic regime has turned to Iran, another pariah state, for assistance. The collapse of Venezuela’s once-mighty oil industry has not only caused the Latin American country’s economy Continue Reading
Venezuela’s crude production entered November on a downswing after the US banned non-US companies from crude-for-diesel swaps at the end of October. Output was slipping below an October average of Continue Reading
Venezuela’s crude oil exports last month fell further, to a low of 359,000 bpd, Reuters reported , citing official data. The decline was the result of the expiry of a Continue Reading
‘Whether Trump or Biden wins, we will confront and defeat him,’ Venezuelan President Nicolas Maduro said, leaving little doubt as to his intentions toward whomever finds himself in the Oval Continue Reading
Venezuelan President Nicolas Maduro on Wednesday said the country’s Amuay oil refinery was victim of a terrorist attack on Tuesday that involved a “powerful weapon”, but said the country had Continue Reading
There are considerable concerns that the vast oil reserves of Venezuela, totaling a billion barrels, could become a stranded asset. It was Venezuela’s burgeoning post-World War One oil boom which Continue Reading
European Union foreign policy chief Josep Borrell speaks during a media conference after a meeting, Supporting the future of Syria and the Region, in videoconference format at the European Council Continue Reading
Venezuelan crude inventories have surged 84% over the last three weeks as the threat of U.S. sanctions ward away buyers of the nation’s most important commodity. That raises the risk Continue Reading
Venezuela’s state oil company has made a pessimistic estimate for next year’s oil prices, expecting to make just $35 per barrel for the crude it exports, Reuters has reported . Continue Reading
The floating storage and offloading vessel Nabarima is in danger of sinking off the Venezuelan coast with more than 1 million barrels of crude, but state-owned oil company PDVSA does Continue Reading
Venezuela, once Latin America’s largest oil producer and a founding member of OPEC, has seen its economically vital oil industry collapse triggering one of the worst economic and humanitarian crises Continue Reading
There’s nothing quite like the feeling of uncertainty and dread right in the moments before a disaster of gargantuan proportions unfolds in front of our eyes. We might be living Continue Reading
The government of Venezuelan President Nicolas Maduro is approaching some of the nation’s creditors in a bid to lay the groundwork for a debt deal should sanctions ease after next Continue Reading
Eleazar Hernández slept on a sidewalk amid a light drizzle, temperatures that dipped close to freezing and the roar of passing trucks. The 23-year-old Venezuelan migrant was trying to make Continue Reading
Venezuela’s state oil firm PDVSA has recently boosted its crude oil blending operations to a six-month high after some upgraders came back online, Reuters reported on Thursday, citing PDVSA documents Continue Reading
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
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 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
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
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
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
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’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
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
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
Iran has received gold from Venezuela for the fuel cargoes Tehran had sent to the Latin American country, a commander at Iran’s Islamic Revolutionary Guard Corps (IRGC) said over the Continue Reading
The first vessel in an Iranian convoy of ships bringing desperately needed fuel arrived in Venezuela, demonstrating both nations’ determination to undermine U.S. efforts to isolate the governments in Tehran Continue Reading
The sun had risen over the Caribbean Sea when Frank González spotted “the stain” — an oil slick on the water that stretched for miles. “The sea looked like butter, Continue Reading
Venezuela sits on top of the world’s largest proven oil reserve. The country is home to what is estimated to be a whopping 296.5 billion barrels, which accounts for a Continue Reading
After defying U.S. sanctions by shipping a cargo of oil condensate to Venezuela just last week, Iran is using the same ship to help the Latin American country export its Continue Reading
After defying U.S. sanctions by shipping its first cargo of oil to Venezuela just last week, Iran is using the same ship to help the Latin American country export crude. The Continue Reading
US sanctions have deterred all but Iranian tankers from delivering gasoline to fuel-starved Venezuela, and the Trump administration will keep up pressure on the global shipping industry to avoid the Continue Reading
Venezuela is preparing to ramp up its crude oil production using diluents imported from Iran, Reuters reports , citing unnamed sources and company documents. State-owned oil company PDVSA produced just Continue Reading
Gasoline shortages are becoming more acute across Venezuela (Twitter). Spanish – An uptick in coronavirus cases amid the most severe gasoline shortages exacerbates the crisis in the country with the Continue Reading
An oil tanker is discharging Iranian condensate for Venezuela as both countries continue to avoid U.S. sanction tripwires. The ship, identified as Honey, turned off its satellite signal and started Continue Reading
Another round of Iranian gasoline shipments appears to be headed to Venezuela despite the US government’s move last month to seize similar cargoes to increase pressure on both sanctioned countries. Continue Reading
An oil tanker is discharging Iranian condensate for Venezuela as both countries continue to avoid U.S. sanction tripwires. The ship is identified in internal documents as Honey, according to a Continue Reading
Contraband fuel sits on the side of a road in Puerto Santander, Colombia, on May 31, 2019. The Venezuelan government’s lack of cash to import gasoline combined with U.S. sanctions Continue Reading
Venezuela’s capacity to produce some much-needed gasoline and diesel of its own hinges on a single oil play. To tap it, the Nicolas Maduro regime is willing to cannibalize the Continue Reading
It has been a tough summer for Venezuela. The already ailing country, in the throes of a severe lockdown, is also experiencing a major environmental disaster. In July, a state-owned refinery Continue Reading
Venezuela’s oil industry—rich in reserves, a crucial Allied resource in World War II, a founding member of OPEC—is grinding toward a halt. Venezuela has greater oil stores than any other country. Continue Reading
Venezuela reportedly is finding it difficult to secure a vessel on which to empty an oil tanker at risk of sinking off its coast because of U.S. sanctions. (Bloomberg) — Continue Reading
Venezuela once considered one of Latin America’s prosperous countries has plunged into the abyss. Years of economic mismanagement, cronyism and corruption have sparked a monumental economic collapse which saw the Continue Reading
As Venezuela’s near-nothing oil industry slinks further into nothingness, a new commodity is taking shape in the crisis-stricken Latin American country sitting atop the world’s largest oil reserves: gold. According Continue Reading
Earlier this month, President Maduro said he would be the first to get vaccinated Venezuela’s President Nicolás Maduro has announced he will be asking for volunteers to test the Covid-19 Continue Reading
