(Reuters, Lesley Wroughton, Luc Cohen, Marianna Parraga, 10.Mar.2019) — The United States is pressing India to stop buying oil from Venezuelan President Nicolas Maduro’s government, Washington’s top envoy for Venezuela...
(Argus, 10.Mar.2019) — Venezuela’s main oil export terminal and heavy crude processing complex in Jose are shut down as a historic blackout persists across much of the country today. Crude...
(Reuters, 9.Mar.2019) — OPEC's Venezuela hit by a major blackout, as shown here in a photojournalist look here at the crisis. ***
(Argus, 8.Mar.2019) — Nearly all Venezuelans are still without electricity this morning because of an unprecedented nationwide blackout that has paralyzed economic activity and crippled the already precarious oil industry....
(AP, Scott Smith and Sheyla Urdaneta, 6.Mar.2019) — Marin Mendez leaned a shoulder into his rusty Chevy Malibu, rolling it forward each time the line of cars inched closer to...
(Reuters, Marianna Parraga, 6.Mar.2019) — Plans by the German operator of a portion of the Venezuelan state oil company’s tanker fleet to return 10 vessels because of unpaid fees prompted...
(Energy Analytics Institute, Piero Stewart, 1.Mar.2019) — Heard on the street and LatAmNRG briefs on Sinovensa's plans to boost oil output to 165,000 b/d, Venezuela’s state oil company PDVSA eyeing...
(S&P Global Platts, 28.Feb.2019) — Repsol expects output from around 10 of its new international plays to outweigh any possible declines from Libya and Venezuela and drive it towards its...
(Oilprice.com, Irina Slav, 27.Feb.2019) — Russian companies in Venezuela are not experiencing any problems resulting from the escalation in the political situation in the country and have not incurred any...
(Bloomberg, Lucia Kassai and Ezra Fieser, 27.Feb.2019) — U.S. Gulf refiners are bidding up prices for Colombian crude amid sanctions on Venezuelan imports, historically one of America’s top oil suppliers....
(Jamaica Observer, Kimone Thompson, 26.Feb.2019) — The state-owned oil refinery Petrojam, which is currently embroiled in a management scandal, has begun the search for a new HR manager, following Yolande...
(Nabors, 26.Feb.2019) — Nabors Industries Ltd. reported fourth quarter 2018 operating revenues of $782 million, compared to operating revenues of $779 million in the third quarter. Anthony G. Petrello, Nabors...
(Bloomberg, Lucia Kassai and Fabiola Zerpa , 26.Feb.2019) — Venezuela is running out of space to store its sanction-stained crude that few dare to buy, forcing it to reduce output...
(Oilprice.com, Irina Slav, 26.Feb.2019) — More than eight million barrels of Venezuelan crude oil is sitting in tankers as U.S. sanctions are preventing the country from selling the commodity worth...
(Reuters, Marianna Parraga, 26.Feb.2019) — U.S. refiner Citgo Petroleum Corp is formally cutting ties with its parent, state-run oil firm Petroleos de Venezuela SA, to meet U.S. sanctions imposed on...
(BBC, Jack Goodman, 25.Feb.2019) — The United States has imposed tough sanctions on Venezuela’s oil industry to put pressure on President Nicolás Maduro to step down. Oil dominates Venezuela’s economy,...
(Citgo, 22.Feb.2019) — CITGO Petroleum Corporation confirmed its newly appointed Board of Directors, which held its first official meeting today, Friday, Feb. 22. The Board includes Luisa Palacios as Chairwoman,...
(Petroleum Economist, Charles Waine, 22.Feb.2019) — Despite severe US sanctions, President Maduro is standing firm. But how long can the political impasse last while oil production continues to decline? Venezuela...
(S&P Global Platts, 22.Feb.2019) — US sanctions could more than halve Venezuela's crude production by the end of the year, hitting heavy oil joint ventures in the Orinoco Belt and...
(Jamaica Gleaner, Livern Barrett, 19.Feb.2019) — Prime Minister Andrew Holness has sought to explain that the move to compulsorily acquire Venezuela’s shares in Petrojam is purely economic. Holness was speaking...
(Reuters, 19.Feb.2019) — A fire hit a crude oil pumping station in Venezuela’s Orinoco belt region on Tuesday, state-owned oil company Petroleos de Venezuela (PDVSA) said, disrupting crude transportation as...
(CNN, Matt Egan, 19.Feb.2019) — US sanctions on Venezuela’s national oil company have accelerated the unprecedented collapse of its oil output and set off a domino effect in the global...
(Reuters, Tatiana Voronova, 17.Feb.2019) — Russian lender Gazprombank has decided to freeze the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk...
(Energy Analytics Institute, Jared Yamin, 17.Feb.2019) — Houston-based Citgo Petroleum has three refineries located in the U.S. in Corpus Christi, Texas; Lake Charles, Louisiana; and Lemont, Illinois. What follows is...
(Reuters, 14.Feb.2019) — A federal judge in Houston ordered a former Venezuelan oil minister this week to pay the owners of a defunct Houston oil company $1.4 billion in damages...
(Reuters, Stephen Jewkes, 15.Feb.2019) — Italian major Eni said it intends to expand in the Middle East after a spree of deals in the Gulf last year, pressing ahead with...
(Reuters, Julia Payne, 15.Feb.2019) — Global commodities firm Trafigura has decided to stop trading oil with Venezuela due to U.S. sanctions on the OPEC nation’s energy sector, a source with...
(FT.com, John Paul Rathbone and Gideon Long, 13.Feb.2019) — Venezuela’s parallel, opposition government sought to take control of the country’s oil revenues from the regime of Nicolás Maduro by naming...
(S&P Global Platts, 13.Feb.2019) — Self-declared Venezuelan interim president Juan Guaido plans to appoint Luisa Palacios, an expert in emerging Latin American markets and international affairs, as president of state...
(IHS Markit Senior Editor Sergey Myakishev, 12.Feb.2019) — The controversy surrounding last year’s re-election of Nicolas Maduro as president of Venezuela came to a head in recent weeks, with continued...
(Caracas Capital Markets, 12.Feb.2019) — I have seen a lot of weird things in courts over the years, but this one is up there, writes Caracas Capital Markets, S.A. Managing...
(Argus, 11.Feb.2019) — India´s two leading refiners will continue to import Venezuelan crude but will no longer supply oil products to Venezuela´s state-owned PdV because of US sanctions, Indian downstream...
(Chron.com, Jordan Blum, 11.Feb.2019) — Struggling Venezuela already is producing oil at a multi-decade low, but the socialist nation's crude output could fall another 50 percent by 2020, further imperiling...
(Industrial Info, 11.Feb.2019) — Crude oil prices rose by a few dollars per barrel in the days after the U.S. imposed sanctions on Venezuela’s oil industry January 28. But those...
(Energy Analytics Institute, Piero Stewart, 11.Feb.2019) — PDVSA Gas, a subsidiary of Venezuela’s state oil company Petróleos de Venezuela or PDVSA, announced the start of natural gas production at the...
(AP, Alexandra Olson, 9.Feb.2019) — The U.S. and dozens of other countries may have declared that Nicolas Maduro is no longer the legitimate president of Venezuela, but that has not...
(Reuters, Corina Pons, Marianna Parraga, 9.Feb.2019) — Venezuela’s state-run oil company PDVSA is telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at...
(Citgo, 9.Feb.2019) Houston-based Citgo Petroleum Corporation is a refiner, transporter, and marketer of transportation fuels, lubricants, petrochemicals and other petroleum-based industrial products. Citgo is owned by Citgo Holding, Inc., an...
(S&P Global Platts, 8.Feb.2019) — US sanctions imposed on Venezuela’s state-owned PDVSA could further support an already tight high sulfur fuel oil market in Europe, sources said. The European fuel...
(Reuters, 5.Feb.2019) — Venezuelan state oil company PDVSA’s principal amount of debt to Russian oil producer Rosneft stood at $2.3 billion at the end of the fourth quarter, down from...
(Marla Dukharan, 4.Feb.2019) — The worst humanitarian crisis in Latin American history has for years been festering in our backyard, with spillovers both good and (mostly) bad for the Caribbean....
(Bloomberg, Jose Enrique Arrioja, Nick Wadhams, and Anna Edgerton, 4.Feb.2019) — Venezuela’s government-in-waiting intends to scrap requirements that state-owned oil giant PDVSA keep a controlling stake in joint ventures as...
(Wood Mackenzie, 2.Feb.2019) — The sanctions the US government has imposed against Venezuela aim to curb the Maduro government’s access to revenue from crude export. But impact could they have...
[caption id="attachment_6756" align="alignright" width="300"] Source: PDVSA[/caption] (Energy Analytics Institute, Piero Stewart, 2.Feb.2019) — Nicolas Maduro, no longer recognized by the U.S., among numerous other countries worldwide as Venezuela’s president, announced...
(AP, 1.Feb.2019) — Chevron Corp. says its operations in Venezuela will continue normally for the “foreseeable future” despite newly imposed U.S. sanctions on Venezuelan state-owned oil company Petroleos de Venezuela...
(Reuters, 30.Jan.2019) — More than 24 hours after the United States announced large-scale sanctions on Venezuela’s nationally owned oil company, merchant trading firms and refiners were still deciphering what the...
(Energy Analytics Institute, Piero Stewart, 29.Jan.2019) — Officials from PDVSA and Venezuela’s Oil Ministry continue to evaluate the different options they can take to counter the recent sanctions announced by...
(Energy Analytics Institute, Pietro D. Pitts, 29.Jan.2019) — U.S. sanctions announced in January week against Venezuela’s state oil company PDVSA will not only affect Venezuela’s oil sector, but also hold...
(Barron’s, Evie Liu, 29.Jan.2019) — New U.S. sanctions on Venezuela’s state-owned oil giant not only place more pressure on Venezuelan President Nicolás Maduro’s regime, but also on some U.S. refiners...
(Reuters, 25.Jan.2019) — U.S. oil refiners said they would comply with the Trump administration's new sanctions announced on Monday on dealings with Venezuelan state-run oil company Petroleos de Venezuela (PDVSA)...
(CNN, Matt Egan, 29.Jan.2019) — The United States and Venezuela are going through a painful divorce that will have sweeping consequences for the global oil industry. US oil prices surged...
(CNN, Jack Guy, 29.Jan.2019) — Thousands took to the streets in Venezuela last week to demand the resignation of president Nicolas Maduro. Amid the protests, opposition leader Juan Guaidó declared...
(Bloomberg, Dhwani Pandya, Serene Cheong, and Debjit Chakraborty, 29.Jan.2019) — After the U.S. slapped sanctions on Venezuela’s state-owned PDVSA, which essentially add up to an oil ban, the market has...
(Reuters, 29.Jan.2019) — The United States imposed heavy sanctions on Venezuela’s oil industry on Monday, looking to cut off President Nicolas Maduro’s primary source of revenue. The sanctions limit transactions...
(Reuters, Deisy Buitrago and Mircely Guanipa, 28.Jan.2019) — Shock and fear swept through the headquarters of Venezuela’s state-owned oil firm, PDVSA, on Monday, employees said, after the United States imposed...
(AP, Matthew Lee and Deb Riechmann, 28.Jan.2019) — The Trump administration on Monday sanctioned Venezuela’s state-owned oil company, ratcheting up pressure on socialist President Nicolas Maduro to cede power to...
(Jamaica Gleaner, David Jessop, 27.Jan.2019) — Last Wednesday Juan Guaidó, the President of Venezuela’s National Assembly, took an informal oath of office and declared himself the country’s interim president. In...
(Energy Analytics Institute, Piero Stewart, 25.Jan.2019) — “Citgo is owned by the Venezuelan State, by PDVSA, and only PDVSA can determine the affairs of Citgo,” said Venezuela’s President Nicolas Maduro...
(Jamaica Gleaner, 25.Jan.2019) — Russia, China, Iran, Syria, and Cuba have come down on one side. The United States, Canada, and countries in Western Europe are on the other. As...
(Reuters, Marianna Parraga and Corina Pons, 25.Jan.2019) — Venezuela’s most important foreign asset, its $10 billion U.S. refining arm Citgo Petroleum, is hunkering down to arm itself with a legal...
(Reuters, Devika Krishna Kumar, 24.Jan.2019) — Oil prices edged higher on Friday as political turmoil in Venezuela threatened to tighten crude supply, but concerns over surging U.S. fuel stocks and...
(S&P Global Platts, 24.Jan.2019) — Venezuela’s self-declared interim president, Juan Guaido, will announce plans to revamp the board of Citgo Petroleum to give the embattled refiner fresh leadership and ease...
(Energy Analytics Institute, Piero Stewart, 24.Jan.2019) — Hyperinflation in Venezuela is expected to exceed 10,000,000% in 2019, reported online media El Nacional, citing data from the International Monetary Fund (IMF)....
(McDermott, 24.Jan.2019) — McDermott International, Inc. announced today a significant contract award by BP Trinidad & Tobago, LLC (bpTT) for the engineering, procurement and construction (EPC) of the Cassia Compression...
(Market Watch, Myra P. Saefong, 23.Jan.2019) — Venezuela’s political turmoil may lead to a near-term shortage of crude for some U.S. refiners. But in the long run, it could lead...
(Bloomberg, Tina Davis and Javier Blas, 23.Jan.2019) — Will there be two OPEC presidents now? With Venezuela boasting two proclaimed heads of state, it’s worth remembering that the nation with...
(Bloomberg, Lucia Kassai, Jennifer A Dlouhy, and David Marino, 23.Jan.2019) — The Trump administration has drafted a slate of sanctions but hasn’t decided whether to deploy them, said people familiar...
[caption id="attachment_6522" align="alignright" width="300"] Nicolas Maduro. Source: PDVSA[/caption] (Energy Analytics Institute, Piero Stewart, 23.Jan.2019) — The intention of the U.S. government is to expropriate Venezuela’s crude oil, gold, and natural...
(S&P Global Platts, 23.Jan.2019) — The US continues to consider sanctions on Venezuelan oil exports, potentially complicating a major source of crude for US Gulf Coast refiners, as key Trump...
(Oilfield Technology, David Bizley, 23.Jan.2019) — Petrobras and PDVSA are the top spenders among all oil and gas companies in South America, in terms of new build capital expenditure (CAPEX)...
(Energy Analytics Institute, Piero Stewart, 21.Jan.2019) — Representatives from companies in Venezuela discussed strategies to recuperate production from blocks located in the Hugo Chávez Orinoco Belt, or the Faja. The...
(Oilprice.com, Irina Slav, 18.Jan.2019) — Refiners in the United States are stocking up on heavy crude, pushing prices higher, as the Trump administration prepares to slam more punitive measures on...
(Seeking Alpha, Carl Surran, 16.Jan.2019) — The White House National Security Council has told some U.S. refiners that sanctions on Venezuelan crude exports are under consideration, a signal that opposition...
(Kessler Topaz, 17.Jan.2019) — The law firm of Kessler Topaz Meltzer & Check, LLP alerts investors that a securities fraud class action lawsuit has been filed against Tenaris S.A. on...