(Reuters, Marianna Parraga and Corina Pons, 18.Oct2019) — Venezuela's opposition last week sent holders of state oil company PDVSA's 2020 bond a proposal to suspend legal actions for 90 days,...
(Reuters, Marianna Parraga, 18.Oct.2019) — U.S. oil major Chevron Corp is scheduled this month to receive at least one cargo of crude oil from sanctioned Venezuelan state oil company PDVSA,...
(S&P Global Platts, Brian Scheid and Rosemary Griffin, 17.Oct.2019) — Chevron is pushing back against the Trump administration's plans to let the company's Venezuela sanctions waiver expire, arguing such a...
(Argus, 17.Oct.2019) — Venezuela's main political opposition is pressing for a deal with foreign bondholders to suspend a looming $914mn obligation that is tethered to coveted US refining assets. The...
(Tass, 16.Oct.2019) — The government of Venezuela is ready to hand over full control over its state-run oil company PDVSA (Petroleos de Venezuela) to Russia’s Rosneft, El Nacional newspaper said...
(venezuelanalysis.com, 16.Oct.2019) — Venezuela’s CITGO could be seized by creditors. Venezuela’s opposition-held National Assembly (AN) passed a resolution Tuesday branding the country’s 2020 PDVSA bond “invalid.” The move comes on...
(Oilprice.com, Tsvetana Paraskova, 16.Oct.2019) — Venezuela’s opposition is getting ready to file within days a lawsuit in the United States seeking to prevent bond holders of Venezuelan state oil firm...
(Reuters, Mariela Nava and Anggy Polanco, 15.Oct.2019) — Venezuelans in border areas are waiting up to six days to fill their cars and some report paying bribes to jump ahead...
(Reuters, Nidhi Verma and Marianna Parraga, 15.Oct.2019) — India's Nayara Energy has been using Russian giant Rosneft as an intermediary to acquire Venezuelan oil, paying it in fuel rather than...
(Argus, 15.Oct.2019) — Venezuela's opposition-controlled National Assembly signaled to bondholders today that it will not honor a $914mn principal and interest obligation because it says the debt issuance is unconstitutional....
(S&P Global Platts, Brian Scheid, 14.Oct.2019) — Venezuelan oil production, already averaging a historic low near 600,000 b/d, could quickly plummet below 300,000 b/d if the Trump administration allows a...
(Reuters, Marianna Parraga, 9.Oct.2019) — Indian refiner Reliance Industries Ltd is scheduled to resume loading Venezuelan crude in October after a four-month pause, according to sources and internal documents from PDVSA...
(Reuters, 9.Oct.2019) — Aruba on Wednesday reached an agreement with U.S. based Citgo Petroleum Corp to end its contract to refurbish and operate the island's refinery, a statement from the...
(Forbes, Ariel Cohen, 8.Oct.2019) — At last month’s United Nations General Assembly, the Lima Group, the U.S.-led coalition of 14 countries in the Americas seeking a solution to the Venezuela...
(Reuters, 8.Oct.2019) — Citgo Petroleum Corp this week named a former BP lawyer to take on the company’s top legal job as it faces creditors seeking to seize shares in...
(Chron, Sergio Chapa, 7.Oct.2019) — Frequent power outages, theft of equipment, a political tug-of-war and billions of dollars in losses would seem to signal to businesses that it’s time to...
(Argus, 7.Oct.2019) — Senior managers of Venezuelan state-owned PdV's heavy crude-blending joint venture with Chinese state-owned CNPC were arrested late last week, days after the blending plant halted operations. PetroSinovensa...
(Reuters, Jonathan Saul and Collin Eaton, 4.Oct.2019) — Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to...
(Argus, 3.Oct.2019) — At least three Venezuelan fuel tankers are heading towards Cuba today, part of a flotilla meant to free up domestic storage space while defying a US campaign...
(Yahoo Finance, Akiko Fujita, Anchor/Reporter, 27.Sep.2019) — A top aide to Venezuelan opposition leader Juan Guaido said on Friday it could take up to eight years to restore oil production...
(Argus, 26.Sep.2019) — Venezuela's parallel administration headed by opposition leader Juan Guaido has lost its most prominent figure, former planning minister and Harvard professor Ricardo Hausmann. Hausmann, who recently hinted...
(Argus, 26.Sep.2019) ) — Guyana will hold parliamentary elections on 2 March 2020, around the time that ExxonMobil plans to launch offshore oil production that promises to transform the economy...
(Reuters, Mircely Guanipa and Marianna Parraga, 25.Sep.2019) — Venezuelan state oil company PDVSA ordered an increase in exports to ally Cuba to ease fuel shortages on the island this month,...
(US Treasury, 24.Sep.2019) — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four entities that operate in the oil sector of the Venezuelan economy...
(US Treasury, 24.Sep.2019) — On September 24, the United States designated four companies that operate in Venezuela’s oil sector as sanctioned, and identified as blocked property four vessels associated with...
(Argus, 24.Sep.2019) — Venezuelan opposition leader Juan Guaido's constitutional claim to the Opec country's interim presidency could be undermined by today's tumultuous return of the governing United Socialist Party (PSUV)...
(Argus, 20.Sep.2019) — A fire overnight disrupted limited operations at the 635,000 b/d Amuay oil refinery, the only one of Venezuelan state-owned PdV's domestic crude-processing plants that has been functioning...
(Argus, 16.Sep.2019) — Venezuela's national oil company PdV has suspended crude blending at its 210,000 b/d PetroPiar joint venture with Chevron because of storage constraints, according to multiple Venezuelan oil...
(Reuters, Chen Aizhu, 10.Sep.2019) — China National Petroleum Corp (CNPC), a leading buyer of Venezuelan oil, will skip cargo loadings for a second month in September as the state oil...
(Rosneft, 10.Sep.2019) — In connection with statements by US special envoy Elliott Abrams, Rosneft reaffirms its position regarding the Company's operations in Venezuela. Rosneft is an investor in the oil...
(Bloomberg, Lucia Kassai and David Wethe, 10.Sep.2019) — The firing of U.S. National Security Advisor John Bolton gave oil markets some near-term supply comfort, while analysts were divided on whether...
(US Treasury, 10.Sep.2019) — U.S. Special Representative for Venezuela Elliott Abrams discussed issues related to Venezuela during a Live At State from Washington, D.C. MODERATOR: Hello. I’m Vanessa Acker, the...
(Argus, 6.Sep.2019) — Venezuelan president Nicolas Maduro ordered state prosecutors to lodge treason charges against opposition leader Juan Guaido for allegedly agreeing to relinquish Venezuela's century-old territorial claim to the...
(Argus, 6.Sep.2019) — Venezuela's national oil company PdV has lost almost all capacity to refine crude, with only a sliver of the 635,000 b/d Amuay plant currently in operation, according...
(Citgo, 5.Sep.2019) — Standard & Poor's (S&P), a leading credit rating agency, has removed Citgo Holding, Inc. and Citgo Petroleum Corporation's outlook from credit watch and has placed them on...
(Reuters, Marianna Parraga, Mircely Guanipa, 3.Sep.2019) — Venezuela’s oil exports fell in August to their lowest level in 2019, internal reports and Refinitiv Eikon data showed, hurt by a halt...
(Energy Analytics Institute, Aaron Simonsky, 29.Aug.2019) — LatAmNRG briefs related to the Liza Destiny FPSO reaching Guyana, PDVSA investigating recent LPG plant explosion in Los Valles del Tuy, Dos Bocas...
(Citgo, 26.Aug.2019) — The Board of Directors of Citgo Petroleum Corporation is pleased to report significant progress on top company goals. Following its appointment in February 2019, the Citgo Board...
(Reuters, Marianna Parraga, 22.Aug.2019) — The two new top executives at Citgo Petroleum disclosed this week that net income in the second quarter slid to less than half its level...
(Argus, 20.Aug.2019) — The Chinese government is so far showing no sign of curtailing its oil ties to Venezuela, despite state-owned PetroChina's rescheduling of Merey crude loadings in August. Argus...
(AP, 20.Aug.2019) — Parts of Venezuela's capital and at least one state endured a power blackout on Tuesday lasting several hours, in an occurrence that has become commonplace in the...
(Reuters, Chen Aizhu and Marianna Parraga, 18.Aug.2019) — China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest U.S. sanctions on the South...
(Oilprice.com, Julianne Geiger, 16.Aug.2019) — Russia and China have stuck with Venezuela during its most recent time of need, but at least one of their loyalties may soon come to...
(Reuters, Alex Lawler, 16.Aug.2019) — OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals...
(S&P Global Platts, 15.Aug.2019) — The US is set to impose sanctions on Rosneft if it continues to trade crude oil and fuel with Venezuela's PDVSA in exchange for debt...
(Reuters, By Luc Cohen, 15.Aug.2019) — Venezuela's opposition-controlled congress is considering reforms to the country's oil law that would open up the sector to private investment but are scaled back...
(Citgo, 14.Aug.2019) — The Board of Directors of Citgo Petroleum Corporation has selected Carlos E. Jorda to occupy the Chief Executive Officer (CEO) position after a thorough and extensive search...
(Reuters, Luc Cohen, 14.Aug.2019) — Foreign joint venture partners with Venezuelan state-owned oil company PDVSA are concerned the latest set of U.S. sanctions on the South American country could disrupt...
(Energy Analytics Institute, Jared Yamin, 13.Aug.2019) — Venezuela’s National Assembly leader Juan Guaido announced creation of a special commission dedicated to renegotiating the OPEC country’s public debt, the assembly reported...
(Reuters, Marianna Parraga, 13.Aug.2019) — Citgo Petroleum Corp has selected Carlos Jorda as its next chief executive, according to three people familiar with the matter, turning to a seasoned refinery...
(Oxford Business Group, 10.Aug.2019) — In June the UN estimated that 4m people had fled Venezuela as a result of the crisis. Of these, some 40,000 have arrived in T&T....
(WSJ, Vivian Salama, 6.Aug.2019) — The Trump administration imposed a total economic embargo against the government of Venezuela, a significant escalation of pressure against the regime of President Nicolás Maduro...
(Bloomberg, 6.Aug.2019) — President Donald Trump imposed further sanctions on Venezuela, freezing the government’s assets in the U.S. and adding immigration restrictions in a move aimed at stepping up pressure...
(Platts, 6.Aug.2019) — The US escalated sanctions against Venezuela late Monday and may use the executive order to target crude flows to China and India, analysts said Tuesday. Highlights Analysts...
(Oilprice.com, Tsvetana Paraskova, 5.Aug.2019) — Six U.S. executives at Citgo, the U.S. subsidiary of Venezuela’s state-held oil firm PDVSA, were detained by Nicolas Maduro’s regime in Venezuela in November 2017...
(Reuters, Matt Spetalnick and Roberta Rampton, 5.Aug.2019) — U.S. President Donald Trump imposed a freeze on all Venezuelan government assets in the United States on Monday, sharply escalating an economic...
(Energy Analytics Institute, Piero Stewart, 5.Aug.2019) — Court says National Assembly leader Juan Guaido authorized to appoint the directors of Houston-based refiner Citgo Petroleum, company spokesperson says. “Today’s decision is...
(Energy Analytics Institute, Jared Yamin and Piero Stewart, 2.Aug.2019) — LatAmNRG briefs and heard on the street related to Sempra Energy's divestments in South America, Tullow Oil plc’s three well...
(Citgo, 1.Aug.2019) — CITGO Holding, Inc., parent company of CITGO Petroleum Corporation (CPC), confirmed it has completed its previously announced refinancing transactions to redeem and pay-off $1.870 billion of its...
(Reuters, Marianna Parraga, 1.Aug.2019) — Venezuela’s oil exports fell 17.5% in July to their second-lowest level since Washington imposed sanctions on the nation as state-run PDVSA finds fewer customers to...
(Bloomberg, 1.Aug.2019) — Russian oil products are making their way to sanction-stained Venezuela, affording a reprieve for the Latin American nation as it battles persistent fuel shortages. Venezuela received at...
(Argus, 30.Jul.2019) — Venezuela´s fledgling opposition government is putting the final touches on a strategic package of economic measures designed to allow time for a future administration to adopt sweeping...
(Argus, 29.Jul.2019) — India's imports of Venezuelan crude jumped by 25pc year on year in June and by 37pc from May, reflecting the limited reach of US sanctions on the...
(Reuters, 29.Jul.2019) — Venezuelan state-run oil company PDVSA said on Monday the Petropiar extra-heavy crude upgrader, part-owned by U.S. oil company Chevron Corp, had begun operations as a blending facility....
(Reuters, Timothy Gardner, 26.Jul.2019) — The Trump administration is split over whether to renew a license this week for energy company Chevron Corp's operations in Venezuela, with Secretary of State...
(Reuters, 26.Jul.2019) — The administration of United States President Donald Trump said on Friday that it has renewed Chevron Corp's licence to drill for oil and gas in Venezuela despite...
(Bloomberg, Kevin Crowley, Lucia Kassai and Kevin Cirilli, 25.Jul.2019) — Pressure is mounting on U.S. President Donald Trump to end Chevron Corp.’s 100-year presence in Venezuela as he seeks to exert...
(Citgo, 25.Jul.2019) — The Simón Bolívar Foundation, the 501(c)(3) non-profit, private foundation of CITGO Petroleum Corporation, held an educational and networking event last night for the Houston community regarding the...
(Argus, 25.Jul.2019) — A US government decision over Chevron's expiring license to work in Venezuela is the first test of its willingness to ease sanctions that have so far failed...
(Reuters, Luc Cohen) — Venezuelan opposition leader Juan Guaido said on Tuesday he would seek to protect Chevron Corp’s assets in the country if the United States does not renew...
(Ford Tanner, 23.Jul.2019) — Venezuela's political crisis remains in stalemate. Escalating oil-sector sanctions imposed by the United States have contributed to massive declines in crude oil production, but the collapse...
(Reuters, 22.Jul.2019) — More than half of Venezuela’s 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an...
(NPR, 20.Jul.2019) — It sounded like such a good idea at the time. The year was 2005. Global oil prices were climbing dramatically. Countries in the Caribbean were facing major...
(Reuters, 18.Jul.2019) — Venezuelan state oil company PDVSA partly restarted activity at its 645,000 barrel-per-day (bpd) Amuay refinery where a blackout halted operations in early Jul., four sources with knowledge...
(Petroleum Economist, 18.Jul.2019) — Latin America's economically troubled oil giant faces the difficult task of significantly raising Asian crude grades. Venezuela's upgraders have been forced to stop upgrading extra-heavy crude...