(Energy Analytics Institute, Piero Stewart, 18.Sep.2018) — Venezuela, the struggling OPEC producer, is now planning to double its production of crude oil, according to statements from the country’s president. “With […]
Category: Venezuela
Venezuela energy
Venezuela’s Maduro Says Relationship With China ‘Win-Win’
(Energy Analytics Institute, Piero Stewart, 18.Sep.2018) — In terms of bilateral cooperation, Venezuela and China are seeking a ‘win-win’ scenarios. “Relations with China are very clear and have been framed […]
IEA Warns of Higher Oil Prices as Iran and Venezuela Losses Deepen
(Bloomberg, Grant Smith. 13.Sep.2018) — The International Energy Agency warned that oil prices could break out above $80 a barrel unless other producers act to offset deepening supply losses in […]
U.S. Company Manager Pleads Guilty in PDVSA Bribery Scheme
(Reuters, 13.Sep.2018) — A former manager of a U.S.-based logistics company pleaded guilty on Thursday to paying bribes to secure contracts from Venezuela’s state oil company PDVSA, and the guilty […]
Venezuela’s Aug. 2018 Oil Output Continues Decline: OPEC MOMR
(Energy Analytics Institute, Jared Yamin, 12.Sep.2018) — Venezuela’s oil production seems on an unstoppable downward trend. The OPEC country’s production of crude oil fell 2.9 percent to 1,235 thousand barrels […]
Jamaica’s Economy Gets $5 Bln From PetroCaribe Over 13 Years
(CMC, 12.Sep.2018) — Jamaica says it has benefitted from projects estimated at US$5 billion under the Venezuela-led PetroCaribe initiative over the past 13 years. CEO of the Petro-Caribe Development Fund […]
Venezuela Constituent Assembly Seeks to Woo Private Oil Investment
(Reuters, Mayela Armas, 12.Sep.2018) — An overhaul of Venezuela’s constitution being prepared by the pro-government Constituent Assembly will likely include changes intended to attract private investment in the country’s oil […]
PDVSA To Reopen Damaged Port Dock By Month’s End
(Reuters, Marianna Parraga, 12.Sep.2018) — PDVSA expects to reopen the south dock of Venezuela’s main oil port Jose by the end of September, easing strains on crude exports delayed due […]
Maduro Looks to China to Bolster Venezuela’s Collapsing Economy
(Afp, 12.Sep.2018) — Venezuela’s President Nicolas Maduro departed Wednesday for China in search of agreements to bolster the oil-exporting country’s collapsing economy. Maduro said the trip was “very necessary, very […]
Venezuela Oil Production Continues to Collapse
(Energy Analytics Institute, Jared Yamin, 12.Sep.2018) — The decline is consistent and constant as well as consistently and constantly bad, writes Caracas Capital Market in a research note emailed to […]
Venezuela’s Oil Output Continues Fall, Ecuador’s Rises in Aug. 2018
(Energy Analytics Institute, Piero Stewart, 12.Sep.2018) — Crude oil production in August 2018 in South America’s lone OPEC member countries, Venezuela and Ecuador, continued along usual trends, according to data […]
Venezuela Wants To Overhaul State Oil Firm PDVSA
(Oilprice.com, Tsvetana Paraskova, 7.Sep.2018) — Venezuela has set up a commission that will be working to reshuffle and reorganize its state oil firm PDVSA in the next few months, according […]
Tanker Backlog Builds Again in Venezuela
(Reuters, Marianna Parraga, 6.Sep.2018) — Crude exports by Venezuela’s PDVSA have slowed after a tanker collision at its main port last month disrupted operations, adding to a backlog of vessels […]
Venezuela Creates Commission to Reorganize PDVSA: Document
(Reuters, 6.Sep.2018) — Venezuela has created a commission to reorganize state oil company PDVSA in the coming months, according to the Official Gazette circulating on Thursday. PDVSA did not immediately […]
Venezuela Oil Sales to US Fell in August
(Reuters, 4.Sep.2018) — Venezuela’s crude sales to the United States fell in August for the second month in a row as exports of two of the South American country’s main […]
Scorch Earth Suicide in Venezuela
(EnergyNomics de Venezuela, Carlos A Rossi, 1.Sep.2018) — Nicolas Maduro has drawn the line in the sand: “Either you are with me and stay here living precariously with Chavism, or […]
PDVSA Inks $430 Mln Deal in Effort to Boost Oil Output
(S&P Global, Mery Mogollon, 30.Aug.2018) — State-owned Venezuelan oil company PDVSA signed a $430 million service agreement with seven companies to boost its oil production by 641,000 b/d, company president […]
Venezuela Aims To Boost Oil Output By 640 Mb/d
(OilPrice.com, Tsvetana Paraskova, 30.Aug.2018) — Venezuela’s state oil firm PDVSA has said that it signed a US$430 million joint service agreement with seven companies that would help it increase its […]
Trinidad: Crouching Tiger
(Trinidad and Tobago Newsday, Kiran Mathur Mohammed, Camille Moreno, 30.Aug.2018) — The Dragon gas deal signed last Saturday is worth celebrating. The clink of glasses will be heard in boardrooms […]
The Latest Episode in the Crystallex-Venezuela Saga
(Mining.com, Valentina Ruiz Leotaud, 29.Aug.2018) — State-owned Petróleos de Venezuela SA or PDVSA announced on Twitter that it filed an appeal requesting that a Delaware court vacate a decision made […]
CITGO Awards Grant, Continues Restoration Work
(Citgo, 29.Aug.2018) — Through the CITGO Caring for Our Coast initiative, a program designed to boost ecological conservation, restoration and education, The Conservation Foundation (TCF) has been awarded a grant […]
Carolyn Wants Details on Dragon Gas Deal
(Trinidad and Tobago Newsday, Sean Douglas, 28.Aug.2018) — Four questions have been posed by Congress of the People leader and former energy minister Carolyn Seepersad-Bachan over the Dragon gas deal […]
Venezuelan Oil Port Working Partially After Collision
(Reuters, Marianna Parraga, 28.Aug.2018) — Venezuela’s main oil port of Jose is operating partially following a weekend tanker collision that halted one of its three docks, curtailing state-run PDVSA’s ability […]
Venezuela Gas Price Deal Competitive—Khan
(Trinidad Guardian, 27.Aug.2018) — Government is giving no details on the pricing structure this country will pay for gas from the Dragon Field under the agreement signed with Venezuela on […]
Dragon Gas Deal May Be ‘Political Gimmicks’
(Trinidad and Tobago Newsday, Richardson Dhalai, 26.Aug.2018) — The Dragon gas deal may be “public relations and political gimmicks” which may not benefit TT. That’s the view of Pointe-a-Pierre MP […]
Five Things About T&T, Venezuela’s Dragon Gas Deal
(Loop News, 26.Aug.2018) — On August 25, 2018, an historic agreement was made between Prime Minister Dr Keith Rowley and Venezuelan President Nicolás Maduro for access the Venezuela’s Dragon Field. […]
PDVSA, Citgo Evaluating Aruba Gas Plan
(Energy Analytics Institute, Piero Stewart, 25.Aug.2018) — Venezuela is evaluating a plan to implement a natural gas project with Aruba. Officials from Venezuela’s state oil company PDVSA, and its refining […]
Aruba’s San Nicolás Refinery to Take Faja Oil
(Energy Analytics Institute, Piero Stewart, 25.Aug.2018) — Valero’s old Aruba refinery will be revitalized as an upgrader. PDVSA announced the San Nicolás Refinery located in Aruba will be converted into […]
Trinidad Inks Gas Deal With Venezuela To Continue LNG Exports
(Bloomberg, Ryan Collins and Kelly Gilblom, 25.Aug.2018) — Trinidad and Tobago will continue to ship super-chilled natural gas all over the world, with a little help from Venezuela. President Nicolas […]
Venezuela to Send Dragón Gas to Trinidad
(Energy Analytics Institute, Piero Stewart, 25.Aug.2018) — Venezuela will send its Dragón field natural gas to Trinidad for processing. That’s according to a deal signed today in Caracas between the […]
Trinidad and Venezuela to Sign Gas Agreement
(CMC, 24.Aug.2018) — Prime Minister Dr Keith Rowley will lead a delegation to Venezuela tomorrow to sign an agreement for the development of the across border gas from the Venezuelan […]
Rosneft May Challenge Crystallex Claim To Citgo Shares
(Oilprice.com, Irina Slav, 23.Aug.2018) — Rosneft has asked a U.S. federal court to establish “a robust appraisal and sale process” of Citgo shares following Canadian miner Crystallex’ win at court […]
Exec Pleads in $1.2 Bln Venezuelan Money-Laundering scheme
(AP, 22.Aug.2018) — A former Swiss bank executive has pleaded guilty to his role in a $1.2 billion money-laundering scheme involving Venezuela’s state-run oil and natural gas company. Federal court […]
Oil Workers Support Maduro’s Economic Plans
(Energy Analytics Institute, Ian Silverman, 21.Aug.2018) — Oil workers at state oil company PDVSA marched in Caracas and across the country to show their continued support of Venezuela’s President Nicolás […]
Dragon Gas Deal Finalised Tomorrow
(Trinidad and Tobago Newsday, Carla Bridglal, 21.Aug.2018) – After nearly two years of negotiations between this country and Venezuela the deal that will allow TT to process gas from the […]
Venezuela Takes Action To Stabilize Currency
(ZeroHedge, 21.Aug.2018) – As previewed yesterday, on Monday Venezuela officially slashed five zeros from prices and its currency as part of what has been dubbed one of the greatest currency […]
Magnitude 7.3 Quake in Venezuela Felt in Guyana
(Stabroek News, 21.Aug.2018) – A powerful earthquake has hit the northern coast of Venezuela with a magnitude of 7.3, according to the U.S. Geological Survey. It had been originally reported […]
PDVSA to Resume Use of Caribbean Terminal Under NuStar Deal
(Reuters, 21.Aug.2018) — Venezuela’s PDVSA and NuStar Energy LP have reached an agreement over outstanding storage fees, allowing the state-run company to resume use of a key storage terminal in […]
Venezuela’s Oil-linked Cryptocurrency Leaves Heads Spinning
(Bloomberg, Andrew Rosati & Fabiola Zerpa, 21.Aug.2018) — Beaten-down Venezuela on Tuesday began confronting a 95 percent currency devaluation and a regimen of economic controls that, after years of hunger […]
PDVSA and ConocoPhillips Reach New, Positive Settlement
(Citgo, 21.Aug.2018) — As officially reported by Petróleos de Venezuela, S.A. (PDVSA) and ConocoPhillips, the two companies recently reached a settlement agreement resulting from the nationalization of the Hamaca and […]
Venezuela Agrees to Pay $2 Bln Over Seizure of Oil Projects
(The New York Times, Clifford Krauss, 20.Aug.2018) – More than a decade ago, Venezuela seized several oil projects from the American oil company ConocoPhillips without compensation. Now, under pressure after […]
Rafael Ramírez Says Maduro Destroyed PDVSA
(Energy Analytics Institute, Jared Yamin, 19.Aug.2018) – Former PDVSA President Rafael Ramírez says Venezuela produced 3 million barrels per day until December 2013. That figure has dropped by 1.8 million, […]
Cure for Venezuela’s Mercantilism, Rentism Disease
(EnergyNomics, Carlos A Rossi, 18.Aug.2018) – Are natural resource endowed countries victims of their own wealth? Is there a richness threshold beyond which the institutions designed to protect a country’s […]
Former PDVSA Director Detained in Argentina
(Energy Analytics Institute, Ian Silverman, 17.Aug.2018) – A former PDVSA director has been detained and accused of money laundering. Luis Abraham Bastidas Ramírez, the cousin of former PDVSA President Rafael […]
Jusepin Oil Region in Venezuela: 45 Seconds of Fame
(Energy Analytics Institute, Piero Stewart, 17.Aug.2018) – Venezuelan opposition leader Maria Corina Machado tours the Jusepin petroleum region in Venezuela. https://twitter.com/i/status/1030477377988710401 Jusepin is just one of many petroleum-rich areas in […]
Venezuelan Oil Assets to be Seized by Creditors
(Express, Simon Osborne, 16.Aug.2018) – Venezuela’s oil assets are being targeted by angry creditors after a US court granted a Canadian mining company permission to send in the bailiffs. Firms […]
Guyana to Become 5th Largest Oil Producer in LAC Region
(Energy Analytics Institute, Piero Stewart, 15.Aug.2018) – If all goes off as planned, by 2025, Guyana will be the 5th largest oil producer in the Latin American and Caribbean region. […]
PDVSA Leaves Argentine Gas Station to Fend for Itself
(Reuters, Luc Cohen, 15.Aug.2018) – As Venezuela’s state-owned oil company PDVSA saw its finances devastated by low oil prices and mismanagement, it funneled millions of dollars to Petrolera del Conosur […]
Venezuela Petrol Prices Need to Rise to Stop Smuggling
(Reuters, Deisy Buitrago and Brian Ellsworth, 14.Aug.2018) – Venezuela’s heavily subsidised domestic gasoline prices should rise to international levels to avoid billions of dollars in annual losses due to fuel […]
OPEC MOMR Shows Further Oil Declines in Venezuela
(Energy Analytics Institute, Piero Stewart, 14.Aug.2018) – Venezuela’s crude oil production declines seem unstoppable. Venezuela’s crude oil production fell to 1.278 million barrels per day (MMb/d) in July 2018 compared […]