The collapse in oil prices and the tightening U.S. sanctions against Venezuela have accelerated the decline of the oil industry in the country sitting on the largest crude oil reserves Continue Reading
Chinese oil trading companies are mulling over a halt in chartering tankers that have called at Venezuelan ports over the past year as Washington steps up sanctions against the Caracas Continue Reading
The US is preparing sanctions on as many as 50 oil and fuel tankers in an effort to cut off trade between Iran and Venezuela. The Trump administration is preparing Continue Reading
Hundreds of Venezuelans queued up in miles-long lines to try to fill their cars with subsidized gasoline over the weekend, a week after President Nicolas Maduro launched a new dual-price Continue Reading
The United States ratcheted up its sanctions on Venezuela’s oil industry on Tuesday, focusing this time on maritime companies and their assets who have been assisting the Latin American country Continue Reading
The Trump administration escalated sanctions against Venezuela’s oil industry, targeting four maritime companies for supporting the “illegitimate” government of President Nicolas Maduro. The Treasury’s Office of Foreign Assets Control also identified Continue Reading
The Trump administration Tuesday tightened its web of sanctions around the Maduro regime in Venezuela, blacklisting four companies allegedly involved in the country’s oil sector. By sanctioning the firms and Continue Reading
Iranian tankers carrying at least $45.5m worth of gasoline sailed into Venezuela without incident [Marcos Moreno/AP] Iran has said it will continue fuel shipments to Venezuela if Caracas requests more Continue Reading
In the first day of higher gasoline prices in Venezuela, it’s hard to say who’s more confused. The attendants at the pump? Or the drivers. The good news is that there’s Continue Reading
Two Iranian tankers that delivered fuel to Venezuela as part of a five-vessel flotilla have begun to sail back, according to Refinitiv Eikon, as the government of the South American Continue Reading
Venezuela will increase fuel prices in June, the president said, putting a limit on state subsidies that for decades had allowed citizens to fill their gas tanks virtually for free. Continue Reading
Iran and Venezuela have been moving closer together for years. The relationship began to flourish after Venezuela hosted the 2006 OPEC summit when then-Venezuelan President Hugo Chávez formed a personal Continue Reading
Seeking to deter further shipments of Iranian fuel to Venezuela, the Trump administration has quietly warned foreign governments, seaports, shipping companies and insurers that they could face stiff U.S. sanctions Continue Reading
– Much to Turkey’s dismay, the EastMed gas pipeline project has been approved by the Cypriot cabinet, and studies are currently in progress. The consortium comprises Cyprus-Greece-Israel for the 1300-mile Continue Reading
Venezuela has grown increasingly dependent on one little-known trading firm in Mexico to help sell its crude abroad as the country faces U.S. sanctions starving it of oil profits in Continue Reading
The production of crude by Venezuela’s state-owned PDVSA and its partners in the Orinoco Belt fell to 235,000 b/d, or 18% of the region’s maximum 1.3 million b/d capacity, on Continue Reading
Four years ago, a bit player in the Venezuelan leadership was arrested in Colombia and extradited to the United States to face drug charges. He proved to be an important Continue Reading
Venezuela’s state-run oil company Petroleos de Venezuela [PDVSA.UL] has cut crude production at several locations and its main crude blending plant has been operating intermittently this month due to mounting Continue Reading
A second tanker dispatched by Iran was welcomed Monday by Venezuelan naval frigates and helicopters as it entered national waters, a lifeline for embattled Venezuelan President Nicolás Maduro that reflects Continue Reading
A total of around 210,000 mt to arrive in five tankers Venezuela faces severe fuel shortages due to sanctions, coronavirus Gasoline exports help Iran ease domestic supply glut London — Continue Reading
The first of five Iranian tankers carrying fuel to Venezuela has moored at Venezuela’s El Palito refinery, Iran’s English-language Press TV reported on Monday. Iran is providing Venezuela with 1.53 Continue Reading
Venezuelans forced to queue for days to fill up their cars with gasoline are now facing a growing shortage of propane to cook after a processing plant caught fire and Continue Reading
While a cold war with China is working its way towards the inevitable, another situation is developing that could lead to physical clashes between Iran and the United States over Continue Reading
CARACAS (Reuters) – Venezuela’s Supreme Court on Friday ordered pay television service DirecTV to restore services in the South American country, after owner AT&T Inc said earlier this week it Continue Reading
The Trump administration is weighing new sanctions and other legal steps to disrupt Iranian oil exports to Venezuela, U.S. officials said, in response to what the U.S. considers the Islamic Continue Reading
A dollar could once theoretically buy about 5 billion gallons of gasoline in Venezuela — more than enough to supply the state of Michigan for a year. Now, a dollar Continue Reading
The US Supreme Court has denied Venezuela’s request to reconsider a lower court’s decision allowing a PDVSA creditor to go after US refiner Citgo, its most valuable overseas asset. Receive Continue Reading
The U.S. Supreme Court justices declined on Monday to review a federal court’s ruling that had allowed Canadian miner Crystallex to take over shares of U.S. refiner Citgo in compensation Continue Reading
Russia’s largest oil producer, Rosneft, confirmed on Friday that it had discontinued all operations in Venezuela, including in joint ventures, trading, and oilfield services, as the top Russian firm looks Continue Reading
The Federal Bureau of Investigation is looking into multiple European and Mexican oil companies that may be involved in violating U.S. sanctions surrounding Venezuela’s oil industry, according to four anonymous Continue Reading
Venezuela has imported crude oil, fuel, additives and refining components have been imported for as long as [state oil corporation] PDVSA has existed. Due to mismanagement, terrible strategies, frequent [workplace] Continue Reading
According to unnamed sources who spoke to Reuters, a power outage this week stopped operations at the Petropiar crude upgrader that PDVSA runs via a joint venture with Chevron. Separately, Continue Reading
Three weeks before he was shot dead, Miguel Calderon, an inmate in the lawless Los Llanos jail on Venezuela’s central plains, sent a voice message to his father. “We live Continue Reading
Venezuelan authorities have detained two U.S. citizens working with a U.S. military veteran who has claimed responsibility for a failed armed incursion into the oil producing country, President Nicolas Maduro Continue Reading
Venezuela’s oil exports ticked higher in April after falling in March to their lowest average in seven months, helped by new trading partners that were re-selling cargoes in Asia, according Continue Reading
Chevron is complying with the U.S. Administration’s requirements, but it is not winding down all activities in Venezuela preparing to leave the country, the U.S. supermajor’s chief executive officer Michael Continue Reading
Venezuela seems to be changing tactics when it comes to managing its oil resources. PDVSA is considering a major industry reform that would increase private company activities in its troubled Continue Reading
A Venezuelan commission set up to study the restructuring of state PDVSA had recommended lifting state control over all its operations and is calling for private national and international capital Continue Reading
Venezuelan President Nicolas Maduro on Monday appointed his economy vice president, Tareck El Aissami, who has been indicted in the United States on drug trafficking charges, as oil minister, amid Continue Reading
Halliburton will suspend most of its operations in Venezuela, the company said, after Washington tightened the noose around Caracas by banning U.S. oil companies operating in the country from drilling Continue Reading
In a week when oil futures fell below zero, everyday Venezuelans are paying more than ever for gasoline as extreme shortages fuel a booming black market. The crisis has now spread Continue Reading
Halliburton Co. is shutting down primary operations in Venezuela as the U.S. tightens sanctions against the Nicolas Maduro regime. “Through December 1, 2020, we are only permitted to perform certain transactions Continue Reading
On Tuesday, the Trump administration told the last remaining American oil companies in Venezuela that they had until December to wind down operations in the country. The Treasury Department’s Office Continue Reading
Chevron has been banned from drilling or transporting oil in Venezuela and its assets there are “mothballed” as the Trump administration cracks down on money going to the government of Continue Reading
With friends and family stuck indoors and buses rarely running, Onasis Muñoz missed several lifesaving dialysis sessions for his failing kidneys. When his blood pressure started to dangerously spike, he Continue Reading
The US Treasury Department Friday again extended for three months a waiver preventing creditors of Venezuela’s PDVSA from taking control of US refiner Citgo as a result of missed payments Continue Reading
Gasoline shortages in Venezuela are worsening after U.S. officials have told foreign firms to refrain from supplying the fuel to the sanctioned South American nation and only provide diesel, according Continue Reading
Over the past weeks, the Trump Administration has tightened the noose around Nicolas Maduro’s regime, increasing pressure on the country sitting on top of the world’s largest oil reserves. Venezuela Continue Reading
Researchers at the New York Institute of Technology’s College of Osteopathic Medicine report that a vaccine long used against tuberculosis may mitigate the effects of Covid-19, reducing the fatality rate. Continue Reading
Venezuela’s fuel shortages are causing growing complications for the production and delivery of food to a crisis-stricken nation that is in quarantine to stop the spread of the coronavirus, according Continue Reading
