The Trump administration’s bid to replace Venezuela’s authoritarian leader Nicolás Maduro hit a roadblock after a meeting with Russian officials in Rome last year—and has never recovered. U.S. envoy Elliott Continue Reading
PDVSA has shut down its last two operating refineries in Venezuela, closing its Amuay and Cardon facilities at the Paraguana Refining Center (CRP), the largest refining complex in the country, Continue Reading
Venezuela’s government is promising to replenish oil supply to its close political ally Cuba as part of a broad push to relaunch its PetroCaribe regional oil supply initiative. Senior Venezuelan Continue Reading
In the latest move meant to back Venezuelan opposition leader Juan Guaido , the Trump administration on Tuesday sanctioned more than a dozen aircraft used to support the regime of Continue Reading
The United States Treasury Department granted Chevron another three-month sanction waiver to continue operating in Venezuela, Reuters reported Sunday, with the expiry date of this latest extension set for April Continue Reading
There will be more action by the United States to support Venezuelan opposition leader Juan Guaido, U.S. Secretary of State Mike Pompeo said on Monday, after meeting with Guaido on Continue Reading
The US government is hoping a high-profile international tour by Venezuelan opposition leader Juan Guaido will re-inject momentum into its protracted campaign to unseat President Nicolas Maduro. Guaido turned up Continue Reading
The US government has given Venezuelan-owned, Texas-based oil refiner Citgo another three-month lifeline, protecting it from creditors who are trying to seize it in compensation for missed debt repayments. In a Continue Reading
Venezuelan President Nicolás Maduro cast himself as the wily survivor of a dramatic, year-long struggle by the opposition at home and its allies in Washington to unseat him, and said Continue Reading
U.S. Secretary of State Mike Pompeo said on Sunday he looks forward to meeting with Venezuelan opposition leader Juan Guaido on Monday in Bogota at a regional counter-terrorism conference. “We Continue Reading
There’s only one path to rebuilding Venezuela, and it’s paved with oil. For the time being, that path leads nowhere. The key to controlling everything now lies with the National Continue Reading
The United States on Monday imposed sanctions on seven Venezuelan politicians it said led a bid by President Nicolas Maduro to wrest control of the country’s congress from U.S.-backed opposition Continue Reading
From his palace in Caracas, President Nicolás Maduro projects an image of strength and his grip on power appears secure. Residents have a regular supply of electricity and gasoline. Shops Continue Reading
From his palace in Caracas, President Nicolás Maduro projects an image of strength and his grip on power appears secure. Residents have a regular supply of electricity and gasoline. Shops Continue Reading
Venezuela’s state-owned oil firm PDVSA is moving to market its crude oil overseas by enlisting its joint venture partners, including U.S. supermajor Chevron, to sell cargoes to buyers in Asia Continue Reading
A recent tussle between Maduro loyalists and the U.S.-backed opposition for control of Venezuela’s National Assembly descended into a melee of competing claims that left neither side with clear authority over Continue Reading
The Trump administration is considering sanctions against some of the Venezuelan lawmakers who took part in a bid supported by President Nicolas Maduro to wrest control of the country’s congress Continue Reading
Venezuelan security forces let U.S.-backed opposition leader Juan Guaido enter the legislative palace on Tuesday amid a showdown for control of parliament after the ruling socialist party installed its own Continue Reading
The US may respond to escalating political disarray in Venezuela by allowing a sanctions waiver for Chevron and four US oil services companies to expire later this month and could Continue Reading
Venezuela’s socialist government installed a new head of Congress on Sunday after armed troops blocked opposition legislators from entering parliament, in a move condemned by dozens of nations as an Continue Reading
Residents of Venezuela have faced widespread gasoline shortages since Monday despite the world’s largest oil reserves, as the socialist regime failed to deliver supplies to gas stations on time. In Continue Reading
With an emoji of a flexing bicep, Venezuelan state oil company Petróleos de Venezuela, S.A., or PDVSA, on Tuesday celebrated what was once a routine task in the OPEC nation: Continue Reading
If anyone is to ever write a guidebook on political survival, the skills of Venezuelan President Nicolás Maduro would certainly top the contemporary charts. This autumn went relatively well for Continue Reading
Venezuela’s PDVSA is hoping to boost its crude production to over 1 million b/d, but analysts are skeptical the state-owned company, faced with deteriorating infrastructure and a lack of buyers Continue Reading
US sanctions on PDVSA shut down roughly 500,000 b/d of crude flows from Venezuela to Gulf Coast refineries within a matter of weeks after being imposed in January, and helped Continue Reading
Production levels by Venezuelan state-owned PDVSA and its international partners in the Orinoco Belt rose to 500,000 b/d, or 38.5% of its 1.3 million b/d maximum capacity, up from 435,000 Continue Reading
Venezuela’s PDVSA produced between 926,000 and 965,000 bpd of crude oil last month, up by as much as 20 percent from the previous month when the average was 761,000 bpd, Continue Reading
Venezuela has released six Citgo executives who were arrested and sent to jail on charges of corruption two years ago, Reuters reports , citing unnamed sources. The prison sentences have Continue Reading
The two boards of Venezuela-owned refiner Citgo are fighting over the ownership of $57 million worth of crude oil stranded at sea, Reuters reports, adding the amount of oil in Continue Reading
Nicolas Maduro’s regime in Venezuela has spent US$5 billion worth of oil to reduce its debt to Russia and China and to send oil to Cuba, while leaving Venezuelans without Continue Reading
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
Russia’s Rosneft ‘Central’ to Maduro’s Survival: Russian state oil company Rosneft is “central” to the survival of Venezuelan President Nicolás Maduro’s government, said special U.S. representative for Venezuela Elliott Abrams, Continue Reading
The US government will prevent PDVSA creditors from taking control of US refiner Citgo at least for the next three months as Venezuela’s interim administration is poised to miss a Continue Reading
Russia is considering sending a permanent delegation of economic advisers to Venezuela to help Caracas resolve issues with foreign creditors, Deputy Finance Minister Sergei Storchak said on Thursday. Storchak said Continue Reading
Motorists in socialist Venezuela have long enjoyed the world’s cheapest gasoline, with fuel so heavily subsidized that a full tank these days costs a tiny fraction of a U.S. penny. Continue Reading
The U.S. government granted Chevron another three-month extension to a sanction waiver that allowed the supermajor to continue doing business in Venezuela, quenching concerns it would have to up and Continue Reading
The US may intervene in the interim Venezuelan government’s legal fight with creditors over control of Citgo, but it wants negotiations over this weekend’s bond payment deadline to play out Continue Reading
The US government has given Chevron and four oil service providers permission to keep working in Venezuela for another three months, extending their exemption from oil sanctions that have hit Continue Reading
With the $2 he earns in wages each week working as a cargo driver for Venezuelan state oil company PDVSA, 56-year-old Freddy Brito cannot even afford to buy one kilogram Continue Reading
Venezuela will not hand over control of its cash-strapped state oil firm PDVSA to Russian oil giant Rosneft, a close aide to Nicolas Maduro told Russian news agency RIA Novosti Continue Reading
The Venezuelan government is readying to hand over control over state oil company PDVSA to Russia’s Rosneft , a local newspaper has reported, citing sources from the industry. Russian TASS Continue Reading
