(Energy Analytics Institute, Pietro D. Pitts, 14.Aug.2018) – The ability to use hydraulic fracturing to tap shale formations, to remotely monitor and manage assets, and use advanced technology to heat […]
Category: Venezuela
Venezuela energy
Venezuela Petrol To Rise to Int’l Levels
(Energy Analytics Institute, Ian Silverman, 13.Aug.2018) — The price of Venezuela’s subsidized petrol, long one of the cheapest in world, is set to rise. Effective August 20, 2018, the price […]
Venezuela’s Citgo Refineries At Risk Of Seizure
(Forbes, Robert Rapie, 12.Aug.2018) – In 2007, following Venezuela’s expropriation of billions of dollars of assets from U.S. companies like ExxonMobil and ConocoPhillips, I suggested a potential remedy. Since Venezuela’s […]
Is Venezuelan Oil Output Falling Faster Than Expected?
(OilPrice.com, Nick Cunningham, 12.Aug.2018) – The bad news from Venezuela continues. In July, Venezuela’s oil production came in lower than PDVSA had targeted, according to Argus Media. While PDVSA had […]
Citgo Petroleum Company Profile
(Energy Analytics Institute, Aaron Simonsky, 11.Aug2018) – Houston-based Citgo Petroleum Corporation is the refining arm of Venezuela’s Petróleos de Venezuela, S.A. (PDVSA). What follows is a brief company profile. Citgo, […]
World Bank Says Oil To Average $65 in 2019
(Energy Analytics Institute, Jared Yamin, 12.Aug2018) – The World Bank expects the price of oil to average $65 per barrel in 2019. “Oil prices are expected to average $65 per […]
Crystallex Cuts Others In Line for Citgo Assets
(Energy Analytics Institute, Jared Yamin, 11.Aug.2018) – Crystallex seems to have cut in line while there are many others already in line for CITGO assets and value. What follows are […]
Crystallex Wins Right To Tap Citgo For Compensation
(OilPrice.com, Irina Slav, 10.Aug.2018) – Canadian gold miner Crystallex was ruled the winner in a long-running case against Venezuela, which it has sued for the forced nationalization of its assets […]
PDVSA President Says Venezuela Production Stabilized
(Energy Analytics Institute, Piero Stewart, 10.Aug.2018) – PDVSA President Manuel Quevedo assured that Venezuelan crude oil production had stabilized. Quevedo, who also serves as Venezuela’s Petroleum Minister, said last week […]
PDVSA Cut Debt to Rosneft $400 Mln in Q2
(Neftegaz.RU, 10.Aug.2018) – According to Platts, Venezuela’s state oil and gas company PDVSA cut its debt to Russia’s top crude producer Rosneft by $400 million in the 2nd quarter to […]
Venezuela Facing Compounding Oil Woes
(UPI, Daniel J. Graeber, 10.Aug.2018) – Though it holds the largest reserves of oil in the world, production levels put it only in the middle of the pack among OPEC […]
PDVSA Appeals Ruling Regarding Citgo Seizure
(AFP, 10.Aug.2018) – Venezuela’s state oil company PDVSA on Friday appealed a US court ruling that would allow a Canadian mining company to seize shares of PDVSA’s US-subsidiary Citgo in […]
Analysts: Only a Matter of Time Before Venezuela Loses Citgo
(Houston Chronicle, Jordan Blum, 10.Aug.2018) – Financially crippled Venezuela likely will lose control of its Houston refining arm Citgo Petroleum once a slew of lawsuits eventually are resolved, and it’s […]
Venezuela’s Oil Sales to U.S. in July Below 500 Mb/d
(Reuters, 10.Aug.2018) – Venezuela’s crude exports to the United States declined to 494,400 barrels per day (bpd) in July after rising the prior three months, showing the impact of asset […]
Crystallex Court Win Against Venezuela Aided by Finding
(Reuters, Brian Ellsworth, 10.Aug.2018) – Crystallex’s victory in a legal battle with Venezuela that paves the way for it to collect a $1.4 billion award hinged on a finding that […]
U.S. Judge Authorizes Seizure of Venezuela’s Citgo
(The Wall Street Journal, Andrew Scurria and Julie Wernau, 9.Aug.2018) – A U.S. federal judge authorized the seizure of Citgo Petroleum Corp. to satisfy a Venezuelan government debt, a ruling […]
Crystallex Can Go After Venezuela’s US Refineries
(Associated Press, 9.Aug.2018) – A Canadian gold mining company on Thursday won the right to go after Venezuela’s prized U.S.-based oil refineries and collect $1.4 billion it lost in a […]
PdV, Joint Ventures Miss Oil Targets
(Argus, 9.Aug.2018) – Venezuela’s state-owned PdV and its joint ventures fell short of officially targeted crude production by more than 125,000 b/d in July, according to an internal PdV upstream […]
Venezuela, Saudi Arabia Discuss Partnerships
(Energy Analytics Institute, Ian Silverman, 8.Aug.2018) — Officials from both OPEC countries discussed existing energy partnerships during their meeting in Caracas. Venezuela was represented by its Petroleum Minister Manuel Quevedo, […]
Helmerich & Payne Wins Right to Sue Venezuela
(Energy Analytics Institute, Piero Stewart, 8.Aug2018) – U.S. drilling company Helmerich & Payne won a judgment from the U.S. Court of Appeal to sue Venezuela for the expropriation of the […]
Unsealing Crystallex/PDVSA Documents
(Energy Analytics Institute, Ian Silverman, 8.Aug.2018) – Chief Judge Stark of the US Federal District Court in Delaware immediately agreed with our arguments calling out the abuse of sealing by […]
Venezuela Dodges Oil Asset Seizures
(Reuters, Marianna Parraga, Mircely Guanipa, 7.Aug.2018) – Reuters) – Venezuela’s state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers […]
Venezuela’s Oil Production Turning a Corner?
(FoxBusinss, Leia Klingel, 7.Aug.2018) – Oil production by Venezuela’s PDVSA may have started to improve, with the state-owned oil and gas producer reporting that production in the country is averaging […]
Venezuela Is Oil Market’s Bizarro World
(S&P Global Platts, Nastassia Astrasheuskaya, 7.Aug.2018) – Venezuela’s state oil and gas company PDVSA cut its debt to Russia’s top crude producer Rosneft by $400 million in the second quarter […]
US Abandons Sanctions to Avoid Owning Venezuela Collapse
(S&P Global Platts, Brian Shield, 7.Aug.2018) – Just more than a year ago, it was not a question of ‘if’, but ‘when.’ As Venezuela’s leftist leader Nicolas Maduro consolidated power […]
Venezuela Waiving All Taxes on Profits from PDVSA
(Energy Analytics Institute, Piero Stewart, 7.Aug2018) – Aside from wasting paper, more importantly, the recent Gaceta Oficial in Venezuela also has a decree from President Nicolas Maduro waiving all taxes […]
How Venezuela Gets Plundered
(DW.com, Andreas Knobloch, 6.Aug.2018) – A money-laundering scandal involving Venezuela’s state oil company PDVSA could turn into a problem for a Swiss bank. A German banker recently affiliated with the […]
Venezuelan Capital Hit by 80% Power Cut
(AFP, 3.Aug.2018) – A power failure cut electricity to 80 per cent of the Venezuelan capital Caracas Tuesday, provoking transport and communications chaos, authorities said. Electricity Minister Luis Motta said […]
Citgo Raises $$750,000 for Muscular Dystrophy Association
(Citgo Petroleum Corporation, 31.Jul.2018) – The Muscular Dystrophy Association (MDA) depends on partnerships to fulfill their mission, and as their largest corporate sponsor, Citgo Petroleum Corporation hosts the annual MDA […]
Venezuela the Clear Leader in Oil Reserves
(UPI, Daniel J. Graeber, 31.Jul.2018) – An annual review of energy trends from Italian energy company Eni found the United States is a “game changer,” though its Venezuela with the […]
Once Oil Wealthy, Maracaibo Struggles to Keep Lights On
(Reuters, Mayela Armas, 31.Jul.2018) – Across Maracaibo, the capital of Venezuela’s largest state, residents unplug refrigerators to guard against power surges. Many only buy food they will consume the same […]
Ecopetrol Announces Changes to Management Structure
(Ecopetrol, 31.Jul.2018) – Ecopetrol S.A. reports that at its session on July 27, 2018, Ecopetrol’s Board of Directors approved adjustments to the company’s management structure in addition to those announced […]
Power Outage Hits Most of Venezuela’s Capital
(AP, 31.Jul.2018) – Most of Venezuela’s capital is without power following a failure at an electrical plant. Energy Minister Luis Motta Dominguez said on Twitter that Tuesday’s outage has left […]
US Charges Point to Rampant Corruption at PDVSA
https://www.insightcrime.org/news/analysis/us-charges-point-to-rampant-corruption-at-venezuela-state-oil-company/ (InSight Crime, 30.Jul.2018) – US authorities are charging a network of Venezuelan elites and international financial actors with laundering over a billion dollars stolen from the state-owned oil company, […]
Venezuela Inflation to Hit 1 Mln Percent. Thanks, Socialism.
(Washington Post, Megan McArdle, 27.Jul.2018) – According to the International Monetary Fund, by the end of the year, the annual inflation rate in Venezuela will reach 1 million percent. A number […]
Venezuela Gasoline Price Likely to Rise
(Energy Analytics Institute, Piero Stewart, 27.Jul.2018) – The price of gasoline in Venezuela is likely to increase. For some services such as gasoline, there will be a relative increase in […]
Hiking Gasoline Won’t Fix Venezuela’s Fiscal Problem
(Energy Analytics Institute, Piero Stewart, 27.Jul.2018) – Hiking the price of gasoline in Venezuela won’t fix the OPEC country’s fiscal problem. That’s according to recent statements from an opposition leader. […]
Falling Oil Output Squeezes Maduro Government
(Energy Analytics Institute, Piero Stewart, 27.Jul.2018) – The continued decline in Venezuela’s oil production acts to squeeze the government of President Nicolas Maduro, says an Ecoanalitica executive. “The fall in […]
SPS Expects Urdaneta Field Output Increase
(Energy Analytics Institute, Piero Stewart, 26.Jul.2018) – Southern Procurement Services (SPS) expects production from the Urdaneta Field in Zulia state to increase to 19,000 barrels per day (b/d) from 12,000 […]
EIA Beta Interactive Data Analysis
(Energy Analytics Institute, Ian Silverman, 26.Jul.2018) – Beta data from the EIA provide users with an interactive way to analyze multiple petroleum data. According to the most recent beta crude […]
Machado Says PDVSA Converted into ‘Junk’
(Energy Analytics Institute, Piero Stewart, 25.Jul.2018) – PDVSA has been converted into ‘junk or scraps’ by the administration of the current Venezuelan president. That’s according to statements from Venezuelan opposition […]
Former Cerro Negro Workers Still Seek Payment
(Energy Analytics Institute, Piero Stewart, 23.Jul.2018) – It has been 11 years and the 7,000 direct and indirect Venezuelan workers of US oil company Exxon Mobil still haven’t received their […]
Oil, Electric Sectors to Join Venezuelan Strike
(Energy Analytics Institute, Piero Stewart, 23.Jul.2018) – Representatives from trade unions from the oil, electricity, food, education and health sectors announced plans to join a national strike called by opposition […]
Union Official Demands Release of PDVSA Workers
(Energy Analytics Institute, Piero Stewart, 23.Jul.2018) – The four workers are being held in detention due to accusations they caused a petroleum spill in the Guarapiche River in Monagas state. […]
Venezuela’s Inflation to Reach 1 Million Percent
(Bloomberg, Andrew Rosati, 23.Jul.2018) – Venezuela’s inflation will skyrocket to 1 million percent by the end of the year as the government continues to print money to cover a growing […]
Venezuela Thermal Plants at 25-30% of Capacity
(Energy Analytics Institute, Piero Stewart, 23.Jul.2018) – Venezuela’s thermal generation plants in Caracas are only operating at 25% to 30% of capacity, and units 7, 8 and 9 of the […]
Ex-Venezuelan Energy Official Pleads Guilty
(AP, 20.Jul.2018) – A former official at a state-run electric company in Caracas, Venezuela, pleaded guilty on Monday to money laundering conspiracy relating to an alleged multibillion-dollar graft scheme in […]
Venezuela Facing ‘Economic Collapse’, IMF Warns
(AFP, 18.Jul.2018) – Venezuela is in a state of “economic collapse” with hyperinflation not seen since the middle of the last century, the International Monetary Fund said Monday. Despite higher […]
U.S. Revokes Visa of Citgo CEO
(Bloomberg, Lucia Kassai and Fabiola Zerpa, 18.Jul.2018) – Being a blood relative of Hugo Chavez used to open doors. Now Asdrubal Chavez, cousin of the late Venezuelan socialist leader, is […]
Venezuela Claims It Plans To Raise Oil Production
(OilPrice.com, Tsvetana Paraskova, 17.Jul.2018) – Venezuela’s Oil Minister Manuel Quevedo has discussed plans with state-held oil company PDVSA to raise the country’s crude oil production in the second half of […]