Venezuela Archives - Page 19 of 47 - Editores LatinPetroleum

EAI NRGBriefs Aug. 2022: Datanalisis, Petrobras Sempra Foundation, Diamond Offshore

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Aug.2022, Words: 1,699) — Energy briefs as well as others related to finance and politics during August 2022 including Petrobras announcing firm well commitments to drill exploratory wells in 2023-24; Sempra Foundation and GRID Alternatives advancing energy access for orphans and migrant youth […]

Chinese Firm Takes Over Lifting Venezuelan Oil for Debt Offset

(Reuters, 26.Aug.2022) — China has entrusted a defense-focused state firm to ship millions of barrels of Venezuelan oil despite U.S. sanctions, part of a deal to offset Caracas’ billions of dollars of debt to Beijing, according to three sources and tanker tracking data. China National Petroleum Corp (CNPC) stopped carrying Venezuelan oil […]

AGE’s Ali Moshiri eyes revitalization of Venezuela hydrocarbon industry

HOUSTON, TEXAS (By editors at Energy Analytics Institute, 26.Aug.2022, Words: 89) — Amos Global Energy Management LLC or AGE, a Houston-based independent oil & gas company focused on the acquisition and development of international upstream assets, continues to see and pursue potential in Venezuela’s hydrocarbon industry, according to the company’s […]

ConocoPhillips Gets $8.5B Venezuela Award OK’d In DC

(Law360, 19.Aug.2022) — ConocoPhillips won approval on Friday to enforce an $8.5 billion arbitral award against Venezuela despite the country ignoring the litigation for more than two years, after a federal judge in Washington, D.C., ruled that Caracas’ chances of success in an ongoing annulment proceeding are minimal.Turning first to the […]

Are Talks Over Detained Americans Slowing the Fight for Democracy in Venezuela?

(CNN, 16.Aug.2022) — A growing number of US citizens are being detained in Venezuela — and though exactly how many is unknown, the detentions could give authoritarian leader Nicolas Maduro leverage in frosty relations with Washington. Since 2019, the US and dozens of other countries around the world have said they do […]

Colombia Forecasts 2022 Trade with Venezuela Could Hit $1.2 Billion

(Reuters, 12.Aug.2022) — Colombia’s trade with Venezuela could hit $1.2 billion this year, its commerce minister German Umana said on Friday, after the country’s new President Gustavo Petro pledged to revive trading relations with its South American neighbour. Relations broke down in early 2019 after Caracas objected to members of […]

Citgo Reports 2Q:22 Net Income of $1.3bn, EBITDA of $1.9bn

(Citgo, 11.Aug.2022) — Citgo Petroleum reported a second quarter net income of $1.29bn and EBITDA of $1.86bn compared to net income of $245mn and EBITDA of $518mn in the first quarter of 2022. Highlights: Reported second quarter net income of $1.29bn and EBITDA 1 of $1.86bnExceptional health, safety and environmental performanceRecord-setting refinery utilization and throughputReceived two AFPM Safety Achievement awardsReceived ILTA Safety Excellence […]

Citgo Reveals Offer to Acquire up to $286mn of its 2024 Notes

(Citgo, 11.Aug.2022) — Citgo Holding, Inc., a Delaware corporation, today announced its offer to purchase for cash an aggregate principal amount of up to $286.231mn (the “Excess Cash Flow Offer Amount”) of its 9.25% Senior Secured Notes due 2024 at a purchase price equal to 100% of the principal amount of the Notes to […]

Ministry Young Visits Maduro to Discuss Energy, Other Matters

(MEEI, 6.Aug.2022) — The Honourable Stuart R Young, M.P., minister of Ministry of Energy and Energy Industries (MEEI) in the Office of the Prime Minister visited Caracas, Venezuela on 5 August, 2022 where he conducted a number of high level meetings with key members of the Bolivarian Republic of Venezuela’s […]

Repsol Confirms Venezuela Crude Deal Restart

(Argus, 28.Jul.2022) — Spain’s integrated Repsol has resumed its crude-for-debt deal with Venezuela, and said the arrival of around 3mn bl of Venezuelan crude at its Spanish terminals this month will help to partly offset a weakening of its refining margins. Repsol chief executive Josu Jon Imaz said the return […]

NRG briefs: UEG Araucária fact sheet; BW Energy stock trades

HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 11.Jul.2022, Words: 250) — Energy briefs including details related to UEG Araucária S.A. (UEGA), a partnership between Petrobras, Copel and Copel Geração e Transmissão. LATIN AMERICA AND THE CARIBBEAN Brazil

NRGBriefs: OFAC on LPG Exports to Venezuela; Nothing Yet on Atlantic LNG

(Energy Analytics Institute, 7.Jul.2022) — Energy briefs including the US Office of Foreign Assets Control (OFAC) authorizing certain transactions involving the exportation or reexportation of liquefied petroleum gas (LPG) to Venezuela; and the government of Trinidad and Tobago yet to announce details of partnership restructuring related to Atlantic LNG. LATIN […]

NRGBriefs: PDVSA Vassa Closure; IGU’s 2022 World LNG Report

(Energy Analytics Institute, 6.Jul.2022) — Energy briefs including the closure of PDVSA Vassa, formerly Venoco, leaving nearly a thousand workers in uncertainty; and the release of the International Gas Union (IGU) 2022 World LNG Report. NORTH AMERICA US

US Investors Form JV to Pursue Oil and Gas Projects in Venezuela

(Reuters, 5.Jul.2022) — Two U.S. investment funds on Tuesday said they formed a joint venture with a Venezuelan firm to pursue oil and gas exploration and production projects in the U.S.-sanctioned South American country. Gramercy Funds Management and Amos Global Energy said their joint venture would work with an arm […]

Amos Global Energy and Gramercy Announce a JV with Inepetrol in Venezuela

(Gramercy Funds Management, 5.Jul.2022) — Gage Venezuela Holdings LLC, a recently created partnership between Amos Global Energy Management LLC (“Age”) and Gramercy Funds Management LLC announced today that it has entered into a joint venture with Inepetrol, S.A., a subsidiary of Inelectra S.A. The joint venture would seek to target […]

US Officials Return to Venezuela Amid Gas Price Hike

(AP, 27.Jun.2022) — Senior U.S. government officials have quietly traveled to Caracas in the latest bid to bring home detained Americans and rebuild relations with the South American oil giant as the war in Ukraine drags on, forcing the U.S. to recalibrate other foreign policy objectives. A U.S. State Department […]

The Simón Bolívar Foundation Releases 2021 Annual Report [PDF Download]

(Citgo, 27.Jun.2022) — The Simón Bolívar Foundation Inc., the 501(c)(3) nonprofit private foundation of Citgo Petroleum Corporation, released its 2021 Annual Report. The Foundation is dedicated to improving the health of vulnerable people affected by the complex, ongoing humanitarian crisis in Venezuela, with special attention to mothers and children. After redefining its […]

NRGBriefs: OFAC Takes Former PDVSA VP off SDN List; Bristow to Ring Opening Bell

(Energy Analytics Institute, 17.Jun.2022) — Energy briefs including the US Department of Treasury announcing the removal of former PDVSA Vice President Carlos Erik Malpica Flores from OFAC’s SDN list. LATIN AMERICA AND THE CARIBBEAN Venezuela — The US Department of the Treasury announced removal of Malpica Flores, Carlos Erik, Naguanagua, […]

US to Allow Venezuelan oil to be Shipped to Europe: Report

(The Hill, 5.Jun.2022) — The U.S. will reportedly resume allowing Venezuelan oil to flow to Europe, people familiar with the matter told Reuters. The outlet on Sunday reported that Eni SpA and Repsol SA, which are Italian and Spanish respectively, could ship Venezuelan oil to Europe as early as next month […]

US to Let Eni, Repsol Ship Venezuela Oil to Europe, Reuters Says

(Bloomberg, 5.Jun.2022) — The US could allow Italy’s Eni SpA and Spain’s Repsol SA to ship Venezuelan oil to Europe as soon as July to make up for Russian crude, Reuters reported, citing people familiar with the matter. The US State Department gave the two companies the green light to resume shipments in […]

PDVSA Extends Diesel Sales in Dollars, Cutting Subsidy

(Reuters, 30.May.2022) — Venezuela’s state-run PDVSA has ordered over a hundred stations to begin selling diesel in dollars, reducing a subsidy that had allowed truckers and public transportation drivers to fill their tanks almost for free, according to documents and sources. Venezuela had set a diesel retail price of $0.50 […]

NRGBriefs: Petro and Hernández Lead Colombian Presidential Elections

(Energy Analytics Institute, 29.May.2022) — Energy and political briefs including initial results in Colombia showing Gustavo Petro and his running mate Francia Márquez Mina, representing the Pacto Histórico party, heading into a second round run off against Rodolfo Hernández and his running mate Marelen Castillo, representing the Anti-Corruption Rulers’ League […]

NRGBriefs: Colombian Presidential Elections; OFAC Extends Chevron License

(Energy Analytics Institute, 27.May.2022) — Energy and political briefs including Colombians going to the polls to elect their next president; OFAC extending Chevron Corporation‘s license to remain in Venezuela; and failures impacting the Venezuela’s National Electric System that would require ~$10bn to fix. LATIN AMERICA AND THE CARIBBEAN Colombia — […]

US Prepares Renewal of Chevron’s Venezuela License Without Broader Terms

(Reuters, 24.May.2022) — The U.S. Treasury Department is getting ready to renew in the coming days Chevron Corp‘s license to operate in Venezuela, but likely without the greatly expanded terms the U.S. oil major sought, four people close to the talks said. The last U.S. energy producer in Venezuela asked […]

NRGBriefs: Maduro tells Venezuelans to be on “maximum alert”

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 23.May.2022, Words: 144) — Energy briefs including Venezuela’s President Nicolás Maduro warning citizens of the OPEC country to be on “maximum alert” in the face of what he called “terrorist attacks by the national and international right-wing against the Guri hydroelectric complex and […]

NRGBriefs: Chevron Comments on Venezuelan License; SQM Results

(Energy Analytics Institute, 19.May.2022) — Energy briefs including Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) holding a conference call to discuss its 1Q;22 financial results; Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) reporting results from 10 new drill holes targeting the Tajitos – Copala resource area, at […]

Citgo Reports 1Q:22 Net Income of $245mn

(Citgo, 17.May.2022) — Citgo Petroleum Corporation reported net income of $245mn for the first quarter 2022, compared to net income of $21mn for the fourth quarter of 2021 and a loss of $(180)mn for the first quarter of 2021. Reliable operations and favorable market conditions enabled Citgo to generate EBITDA 1 of $518mn for the first quarter of 2022, compared […]

US Moves to Ease a Few Economic Sanctions on Venezuela

(AP, 17.May.2022) — The United States government is moving to ease a few economic sanctions on Venezuela in a gesture meant to encourage resumed negotiations between the US-backed opposition and the government of President Nicolás Maduro. The limited changes will allow Chevron Corp to negotiate its licence with the state-owned […]

US to Ease Some Energy Sanctions on Venezuela

(CNN, 17.May.2022) — The Biden administration will begin to ease some energy sanctions on Venezuela to encourage ongoing political discussions between President Nicolas Maduro and the opposition, two senior administration officials told CNN. The first step, to be announced on Tuesday, will allow Chevron — the last major US oil company still […]

Venezuela Petroleum Chamber President Quintero on the Oil Sector

(Energy Analytics Institute, 16.May.2022) — Venezuela Petroleum Chamber President Reinaldo Quintero spoke with Venezuelan media outlet Globovision on 16 May 2022 about US sanctions imposed on Venezuela, state owned Petróleos de Venezuela (PDVSA) and current production levels and potential to boost production over the short-term, Venezuela’s potential to industrialize flared […]

NRGBriefs: Venezuela Share Offerings; Sempra Dividend

(Energy Analytics Institute, 12.May.2022) — Energy briefs including Venezuela’s President Nicolás Maduro looking to offer between 5%-10% of the shares of public companies and “empresas mixtas” for national and international investment; Pampa Energía S.A.‘s videoconference to discuss its 1Q:22 results; and Sempra’s (NYSE: SRE) (BMV: SRE) board of directors declaring a $1.145/share […]

NRGBriefs: YPF Reports Strong 1Q:22 Results; Ecopetrol Growth

(Energy Analytics Institute, 11.May.2022) — Energy briefs including Argentina’s state-owned YPF delivering strong results during the 1Q:22 and again achieving higher hydrocarbon production; Ecopetrol CEO Felipe Bayón saying the Colombian company will continue to grow in future years; and the Organization of Petroleum Exporting Countries (OPEC) Mohammad Barkindo continuing his […]

Stephen McNabb Appointed Citgo Treasurer

(Citgo, 11.May.2022) — Citgo Petroleum Corporation named Stephen McNabb the company’s new Treasurer, where he will oversee liquidity management and the company’s capital structure, manage financial risk and insurance, steward bank relationships and investor relations, and assist the CFO in developing financial strategies. McNabb previously served as Assistant Treasurer and has been with […]

OPEC’s Mohammad Barkindo Visits Petrocedeño Upgrader

(Energy Analytics Institute, 11.May.2022) — Petróleos de Venezuela S.A. (PDVSA) President Asdrúbal Chávez, and the board of directors of the company received the Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Mohammad Barkindo during a “fruitful” meeting at the Petrocedeño upgrader located within the José Antonio Anzoátegui Industrial […]

OPEC’s Barkindo Visits Jose Antonio Anzoátegui Petrochemical Complex

(Energy Analytics Institute, 11.May.2022) —The Organization of Petroleum Exporting Countries (OPEC) Secretary General Mohammad Barkindo and an OPEC delegation visited the ‘Jose Antonio Anzoátegui Petrochemical Complex’ in Anzoátegui State during their working visit to Venezuela. The upgrading complex is composed of four main upgraders and a petrochemical plant. “There have […]

NRGBriefs: CGX, Frontera on Guyana; Barkindo’s OPEC Wind-down

(Energy Analytics Institute, 9.May.2022) — Energy briefs including CGX and Frontera executives briefing the media on the Kawa-1 and Wei-1 exploration wells offshore Guyana; and OPEC Secretary General Mohammad Barkindo (from Nigeria) preparing to step down from his leadership post at the organization in August 2022. LATIN AMERICA AND CARIBBEAN […]

OPEC’s Mohammad Barkindo Visits Venezuela

(Energy Analytics Institute, 7.May.2022) — OPEC (Organization of Petroleum Exporting Countries) Secretary General Mohammad Barkindo arrived in Caracas, Venezuela, on 6 May 2022 for a working visit to the South American country. Barkindo was received by a high-level delegation from the Venezuelan government headed by the Agriculture & Land Minister […]

NRGBriefs: Petrobras EBITDA; LatAm Disintegration; Suriname’s Blk 58

(Energy Analytics Institute, 6.May.2022) — Energy briefs including Brazil’s state oil giant Petróleo Brasileiro S.A. (Petrobras) reporting earnings before interest, taxes, depreciation and amortization of $15.1bn in 1Q:22; energy and other disintegration in the Latin America and Caribbean (LAC) region; APA Corporation and TotalEnergies said getting closer to achieving their […]

Venezuela’s Oil Exports Drop 8% in April amid Quality-linked Delays

(Reuters, 6.May.2022) — Venezuela’s oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality crude grades and insufficient oil upgrading capacity available, according to documents and vessel monitoring data on Thursday. U.S.-sanctioned Venezuela recovered a portion of lost production last year, but crude shipments have been […]

NRGBriefs: Marathon’s Equatorial Guinea Output; Murphy on Brazil and Mexico

(Energy Analytics Institute, 4.May.2022) — Energy and political briefs including Marathon Oil reporting 1Q:22 production from Equatorial Guinea of 64 net Mboe/d; the US providing over $6mn in additional humanitarian assistance to support Venezuelan refugees and migrants, and their host communities in Chile; and US Department of State Assistant Secretary […]

Iranian Oil Minister Meets Venezuela’s President Maduro in Caracas

(AFP, 3.May.2022) — Iran’s oil minister has paid an official visit to ally Venezuela to meet President Nicolas Maduro and discuss ways to “overcome” the effects of US sanctions against both nations, officials said. “I received His Excellency Javad Owji, Oil Minister of the sister Islamic Republic of Iran,” Maduro […]

Venezuela and Iran to Deepen Oil and Defense Ties

(Energy Analytics Institute, 2.May.2022) — Venezuela’s Oil Minister Tareck El Aissami held a working meeting in Caracas with his Iranian counterpart Javad Owji to discuss deepening bilateral cooperation mechanisms between both countries in the oil and defense sectors. The ministers also reviewed different opportunities for bilateral cooperation in the petrochemical […]

Venezuelan Workers Celebrate May Day with President Maduro

(Energy Analytics Institute, 1.May.2022) — Venezuelan workers from across various sectors together with workers from the still important petroleum sector marched to Miraflores Presidential Palace in Caracas to celebrate international workers’ day together with President Nicolás Maduro. Simultaneous mobilizations also took place in other states across the OPEC country including […]

NRGBriefs: May Day Celebrations, No Expropriations Expected

(Energy Analytics Institute, 1.May.2022) — Energy briefs including Trinidad and Tobago’s Prime Minister Keith Rowley and Minister of Energy and Energy Industries Stuart Young visiting Washington, DC to discuss regional energy matters; May Day (1 May) celebrations taking place across the Latin America and the Caribbean (LAC) region but no […]

FACT BOX: Why it’s necessary to upgrade Venezuela’s heavy oils

PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 29.Apr.2022, Words: 108) — The purpose for upgrading Venezuela’s heavy and extra-heavy crude oil (EHCO) is to achieve substantial changes in values that determine the quality of the oil. Such changes include: increasing the API value; reducing viscosity; reducing the content […]

NRGBriefs: The Vennie-Trini Gas Dilemma; TotalEnergies’ 1Q:22 Results

(Energy Analytics Institute, 28.Apr.2022) — Energy briefs including Venezuela’s inability to develop its gas sector presenting a massive opportunity for neighboring Trinidad and Tobago with its already well-established gas economy and massive four-train Atlantic LNG export complex; Paris-based TotalEnergies reporting 1Q:22 financial results; and Spanish oil giant Repsol reporting production […]

NRGBriefs: Chevron Dividend; Guyana Oil Demand; Argentina’s LNG Growth

(Energy Analytics Institute, 27.Apr.2022) — Energy briefs including Argentina’s Economic Minister Martín Guzmán saying that the country could generate around $15bn per year from exporting LNG starting in 2027; Sempra waiting on the US DOE the approve two LNG export projects in Mexico; the BODs of US-based Chevron Corp. (NYSE: […]

NRGBriefs: Venezuela Receives 185 Mbbls from Iran; Pemex, Exxon 1Q:22 Conf. Calls

(Energy Analytics Institute, 25.Apr.2022) — Energy briefs including Venezuela reportedly receiving 185,000 barrels of 29-degree API petroleum from Iran; Pemex plans to host a conference call on 2 May 2022 to discuss its financial and operational results from the 1Q:22; and Exxon Mobil to hold 1Q:22 conference call on 29 […]

NRGBriefs: Argentina’s Finance Minister Martín Guzmán Meets with IMF Executive

(Energy Analytics Institute, 23.Apr.2022) — Energy and financial briefs including Argentina’s Finance Minister Martín Guzmán holding a wide ranging discussion in the US with International Monetary Fund (IMF) First Deputy Managing Director Gita Gopinath; and between 82% and 96% of the entire Venezuelan population is said to not have access […]

EAI brief analysis: Venezuela’s Faja contains 1,360 billion barrels of OOIP

CARACAS, VENEZUELA (By Piero Stewart, Energy Analytics Institute, 22.Apr.2022, Words: 130) — Venezuela is home to the Hugo Chávez Orinoco Heavy Oil Belt, also known as the Faja, which contains original oil in place (OOIP) estimated at 1,360 billion barrels, making it the world’s largest accumulation of heavy and extra-heavy […]