(OilPrice.com, Haley Zaremba, 17.Jul.2018) â In the past, oil has accounted for 96 percent of Venezuela’s exports and over 40 percent of government revenues. Now, as the nationâs economy continues […]
Category: Venezuela
Venezuela energy
How Venezuela Struck It Poor
(Foreign Policy, 16.Jul.2018) â The tragic â and totally avoidable â self-destruction of one of the worldâs richest oil economies. In the spring of 1959, at a secretive meeting at […]
Venezuelaâs Maduro Introduces Petro in Turkey
(Energy Analytics Institute, Piero Stewart, 14.Jul.2018) â Venezuelaâs President NicolĂĄs Maduro introduced âel petroâ during a presentation in Turkey. Maduro reiterated that the Petro crypto-currency is based or backed by […]
Venezuela, Turkey Discuss Oil Supply
(Energy Analytics Institute, Piero Stewart, 14.Jul.2018) â Venezuelaâs President NicolĂĄs Maduro announced the two countries could soon sign a new oil agreement. âA new agreement thereon shall be signed pretty […]
Machado Says Venezuela âShow Canât Go Onâ
(Energy Analytics Institute, Piero Stewart, 13.Jul.2018) â Opposition leader MarĂa Corina Machado said the âshow canât go onâ during a video broadcast from Punto Fijo. The leaderâs video in reaction […]
FDI in LAC Region Falls for Third Straight Year
(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) â Foreign Direct Investment (FDI) in Latin America and the Caribbean fell for a third straight year in 2017, reported the Economic Commission for […]
No End In Sight For Venezuelaâs Oil Crisis
(OilPrice.com, Nick Cunningham, 12.Jul.2018) â Venezuelaâs oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut […]
The Caracas Metro: Still Standing For Now
(Energy Analytics Institute, Piero Stewart, 11.Jul.2018) â The subway system serving the Venezuelan capital is on the verge of collapse due to lackluster maintenance amid ongoing economic, political and humanitarian […]
PDVSA Gas Replaces Section of Gas Pipeline
(Energy Analytics Institute, Piero Stewart, 11.Jul.2018) â PDVSA Gas announced completion of work on the Cariaco-Margarita Wharf section of the Northeast G / J Gas JosĂ© Francisco BermĂșdez pipeline. Work […]
Ecuador, Venezuela Output Down, OPEC Reports
(Energy Analytics Institute, Ian Silverman, 11.Jul.2018) â The Organization of Petroleum Exporting Countries published its July 2018 edition of its Monthly Oil Market Report (MOMR). Crude oil production from Ecuador […]
JusepĂn Oil Spill Demonstrates PDVSA Safety Failures
(Maritime Herald, 9.Jul.2018) â The oil spill that occurred this Friday, July 6 in two tanks of the secondary recovery plant of the JusepĂn Operational Complex of Pdvsa, demonstrates the […]
Quevedo Prays for Higher Venezuelan Output
(Energy Analytics Institute, Piero Stewart, 8.Jul.2018) â Venezuelaâs Oil Minister General Manuel Quevedo prayed to God in search of divine assistance to boost Venezuelaâs oil production. The prayer was made […]
China Gives New Life to Venezuela Despite US’ Ire
(Sputnik News, 5.Jul.2018) â China is lending its helping hand to Venezuela to stabilize the country’s oil sector, analysts told Sputnik, adding that Beijing’s economic activities in Latin America are […]
PetroVictoria Producing 10,000 b/d
(Energy Analytics Institute, Ian Silverman, 5.Jul.2018) â The heavy oil project is currently producing 10,000 barrels per day, according to PDVSA. PetroVictoria, is a joint venture comprised of Venezuelaâs PDVSA […]
PDVSA Installs Two Heavy Oil Desalters
(Energy Analytics Institute, Ian Silverman, 5.Jul.2018) â The land transfer of two from BolĂvar to AnzoĂĄtegui states, for oil crude desalination has successfully been completed. The main function of both […]
China to Invest $250 mln to Boost Venezuelaâs Oil Sector
(Bloomberg, 4.Jul.2018) â Venezuelaâs distressed oil sector may get some much needed financing from China, Finance Minister Simon Zerpa said after meetings with officials from China Development Bank and China […]
Venezuela’s Declining Crude Exports Squeeze India’s Refiners
(Reuters, Marianna Parraga, 3.Jul.2018) â Venezuelaâs crude shipments to India, its third largest export market, fell 21 percent in the first half of the year, according to internal documents from […]
China Throws Venezuelaâs Oil Industry $5B Lifeline
(OilPrice.com, Irina Slav) â Chinaâs Development Bank has approved a US$5-billion loan for Venezuelaâs oil industry, Bloomberg reports, quoting the troubled South American countryâs Finance Minister Simon Zerpa. âWeâve received […]
Venezuela to Get $250 mln from China
(Reuters, 3.Jul.2018) â Venezuela will receive $250 million from the China Development Bank to boost the OPEC nationâs oil production, the South American countryâs Finance Ministry said in a statement […]
Petrozamora Incorporates Steam Generators in Zulia
(Energy Analytics Institute, Piero Stewart, 3.Jul.2018) â PDVSA Petrozamora, a joint venture comprised of PDVSA and Russiaâs Gazprom, completed recovery and incorporation of two steam generators. The generators, SimĂłn BolĂvar […]
PetroPiar Ends Preventative Maintenance
(Energy Analytics Institute, Piero Stewart, 3.Jul.2018) â Work on the upgrader concluded four days ahead of schedule, according to Caracas-based PDVSA. Operational activities at the upgrader included substitutions in the […]
Trinidad, Venezuela Near Gas Sales, Export Agreement
(TeleSur, 29.Jun.2018) â The government of Trinidad and Tobago is projecting that a gas sales agreement with Venezuela will be finalized, signed and ready to be implemented by July 16. […]
Venezuelaâs Oil Ministry Has New Website
(Energy Analytics Institute, Piero Stewart, 29.Jun.2018) â Venezuelaâs Oil Ministry launched its new website and promotional video regarding the same. đ»đȘđ #WEB | Desde @MinPetroleoVE te invitamos a conocer la […]
Venezuela, Trinidad Review Joint Projects
(Energy Analytics Institute, Piero Stewart, 29.Jun.2018) â A delegation from Trinidad & Tobago traveled to Venezuela to discuss joint projects and gas related issues. The meetings were aimed at guarantying […]
Citgo Appoints Aruba Refinery Executives
(Reuters, 28.Jun.2018) â Citgo Petroleum, the U.S. refining arm of Venezuelaâs state-run oil company PDVSA, said it appointed two senior executives to new positions as it works to refurbish an […]
PDVSA, Rosneft Officials Discuss Projects
(Energy Analytics Institute, Piero Stewart, 28.Jun.2018) â Officials from both oil companies held meetings in Caracas to discuss partnerships. PDVSA President Manuel Quevedo, who also serves as Venezuelaâs Oil Minister, […]
PDVSA, Reliance Discuss Trade Opportunities
(Energy Analytics Institute, Piero Stewart, 28.Jun.2018) â Officials from PDVSA and Reliance assess new trade opportunities. PDVSA President Manuel Quevedo met with a delegation headed by Jayaraman Rajamaran, President and […]
OPEC Deal Implies 1.972 MMb/d from Venezuela
(Energy Analytics Institute, Piero Stewart, 27.Jun.2018) â OPECâs recent agreement in Vienna implies Venezuelaâs commitment to comply with oil production of 1.972 million barrels per day for the second semester […]
PDVSAâs Amuay Halts Cat Cracker
(Reuters, 27.Jun.2018) â Venezuela’s 645,000 barrel-per-day (bpd) Amuay refinery has halted its catalytic cracking unit and its distillation unit No. 5, a refinery worker and a union leader said on […]
Venezuela’s Petropiar upgrader begins restart
(Reuters, 26.Jun.2018) â Venezuelaâs PDVSA and Chevron have begun to restart their 210,000-barrel-per-day (bpd) Petropiar heavy crude upgrader after a nearly month-long, repair-related shutdown and a fire, according to the […]
PdV Restarting PetroPiar Upgrader
(Argus, 26.Jun.2018) â Venezuelan state-owned PdV is restarting its 210,000 b/d PetroPiar upgrader this week after completing month-long repairs, PdV and energy ministry officials said. Chevron, which has a 30pc […]
PDVSA Controls Fire at PetroPiar Furnace
(Energy Analytics Institute, Piero Stewart, 26.Jun.2018) â The early morning incident occurred at the JosĂ© Antonio AnzoĂĄtegui Industrial Complex (CIJAA) in Barcelona, Venezuela. The fire occurred at the hydro processing […]
OPEC Ministerial Meeting in December
(Energy Analytics Institute, Piero Stewart, 25.Jun.2018) â Ministers from the Oil Exporting Countries Organization (OPEC) announced during meetings in Vienna, Austria that the 5th OPEC+ countries Ministerial Meeting will take […]
Factsheet: PDVSAâs El Palito refinery
CARACAS, VENEZUELA (Energy Analytics Institute, Piero Stewart, 23.Jun.2018, Words: 157) â PDVSAâs El Palito refinery has been in service now for 58 years. Operations at the refinery commenced on 23 […]
Venezuelaâs Quevedo Speaks of Oil War, OPEC
(Energy Analytics Institute, Piero Stewart, 22.Jun.2018) â Venezuelaâs Oil Minister Manuel Quevedo spoke out in Europe against U.S. sanctions against Venezuela. â[These sanctions] represent a direct attack against the oil […]
OPEC Planning to Boost Output by 1 MMb/d
(Energy Analytics Institute, Jared Yamin, 22.Jun.2018) â OPEC is looking to boost crude oil output by 1 million barrels per day (MMb/d). The production agreement goes into effect in July […]
Venezuelan Minister: Can âAbsolutelyâ Grow Output
(CNBC, 22.Jun.2018) â Manuel Quevedo discusses the meeting of the world’s top oil producers in Vienna. Venezuela’s Oil Minister Quevedo, who also serves as the President of PDVSA, discusses the […]
Venezuela: U.S. Sanctions âAn Attack On The Oil Marketâ
(OilPrice.com, Tsvetana Paraskova, 22.Jun.2018 â The U.S. sanctions against Venezuela are affecting consumers worldwide and are an attack on the oil market, Venezuelan Oil Minister Manuel Quevedo said on Thursday. […]
EIA Publishes Updated Venezuela Country Report
(EIA, 21.Jun.2018) â Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil […]
Uncertainty Looms Large Over LatAm Oil
(Oilprice.com, Tsvetana Paraskova, 20.Jun.2018) â While oil industry analysts and market participants are watching Venezuela closely for clues about how low its oil production will go, several other countries in […]
Venezuelan Oil Output Charting New Lows
(UPI, Daniel J. Graeber, 19.Jun.2018) â Ahead of what could be pivotal talks among OPEC members, production from founding member Venezuela could hit new lows soon, an industry report found. […]
OPEC’s Vienna Meeting: The Challenge of Failing NOCs
(The Council on Foreign Relations, Amy Myers Jaffe, 19.Jun.2018) â As energy ministers from major oil producing countries gather in Vienna this week to discuss the stability of global oil […]
Venezuelan Oil Ministry, PDVSA Plan to Boost Output
(Energy Analytics Institute, Piero Stewart, 17.Jun.2018) â Venezuelaâs Oil Ministry and PDVSA reiterated joint plans to boost crude oil output by 1 million barrels per day. To this end, officials […]
Venezuela Oil Exports to China Slump
(Reuters, 17.Jun.2018) â Reuters) – Chinaâs imports of Venezuelan crude oil could sink to their lowest in nearly eight years in July as the OPEC producer struggles with shrinking output […]
Venezuela Oil Output May Sink To 1 MMb/d
(OilPrice.com, Tsvetana Paraskova, 15.Jun.2018) â Venezuelaâs plummeting oil production is nearing the psychological threshold of just 1 million bpd as early as this year, analysts and industry experts tell Platts. […]
THROWBACK POST … Lake Maracaibo: descent into chaos [EAItv]
CARACAS, VENEZUELA (By Editores LatinPetroleum, Piero Stewart, 15.Jun.2018, Words: 43) â A brief look at Lake Maracaiboâs descent into chaos. The Maracaibo basin has produced over 43 billion barrels of […]
Ecuador Oil Output at 519 Mb/d in May 2018
(Energy Analytics Institute, Jared Yamin, 15.Jun.2018) â Ecuadorâs production of crude oil reached 519 thousand barrels per day (Mb/d) in May 2018, up compared to 518 Mb/d in April 2018, […]
Venezuela Oil Output Slides to 1.4 MMb/d in May 2018
(Energy Analytics Institute, Piero Stewart, 14.Jun.2018) â Venezuela’s oil production continues its downward slope. Venezuelaâs crude oil production fell to 1.392 million barrels per day (MMb/d) in May 2018, according […]
PDVSA Announces Start-Up of Cardon Refinery AV3 Plant
(Energy Analytics Institute, Ian Silverman, 14.Jun.2018) â PDVSA announced its subsidiary PDV Mantenimiento oversaw the successful start up of the High Vacuum 3 (AV3) Plant at the CardĂłn Refinery located […]
Venezuela Forgoes Nearly $30 Bln in Oil Revenues
(Energy Analytics Institute, Piero Stewart, 12.Jun.2018) â Venezuela will continue to forgo substantial oil revenues this year due to its collapsing production. In the last four years of the administration […]