The Venezuelan opposition led by Juan Guaido could soon become the owner of PDVSA’s U.S. refining business, Citgo, in what would only deepen the chaos surrounding the country’s state oil Continue Reading
In an oil market already tighter on heavy crude grades due to OPEC’s production cuts and U.S. sanctions on Iran’s oil, refiners now face an even tighter supply of heavy Continue Reading
The US Energy Information Administration sees more global oil supply and slightly lower demand this year and next, despite production cuts by OPEC and US sanctions on Venezuela creating a Continue Reading
Venezuelans on Tuesday fed a wave of discontent seeking to drive President Nicolás Maduro from office, turning out into the streets in massive protests. But even as the opposition hailed Continue Reading
A dispute over a $626,860 deposit at Wells Fargo & Co. during the Chinese Revolution offers a glimpse into who may eventually control Citgo Petroleum in the current Venezuelan power Continue Reading
Venezuela’s Nicolas Maduro has sought OPEC support against U.S. sanctions imposed on his country’s oil industry, citing their impact on oil prices and potential risks for other members of the Continue Reading
Total CEO Patrick Pouyanne said on Monday he believed the French oil major could stay in Venezuela despite U.S. sanctions, but that his company would evaluate the situation. “First, we Continue Reading
Venezuela’s oil industry has been in a tailspin in recent years, with the country’s crude oil production falling from 2.4 million barrels per day (bpd) in 2015 to only 1.34 Continue Reading
Venezuela’s troubled state oil company PDVSA is telling the buyers of oil produced by its joint ventures to deposit the money for purchases in a new bank account recently opened Continue Reading
Venezuela’s oil minister is in New Delhi this week hoping to convince India’s key refiners to buy more of its crude and forge closer ties as the South American nation Continue Reading
