(Energy Analytics Institute, Piero Stewart, 1.Jun.2018) – A brief look at PDVSA’s PDVAL.
Category: Venezuela
Venezuela energy
Venezuela Upgraders Halting Ops Amid Export Crisis
(Reuters, Deisy Buitrago, Marianna Parraga, 12.Jun.2018) – Venezuela’s state-run PDVSA [PDVSA.UL] and partners have halted operations at two upgraders that convert extra-heavy oil into exportable crude and plan to stop […]
Venezuela Won’t Have Enough Oil To Export By 2019
(OilPrice.com, Robert Rapier, 12.Jun.2018) – On May 21st President Donald Trump signed a new executive order prohibiting certain oil-related transactions with Venezuela. GlobalData, a leading data and analytics company, argues […]
ExxonMobil Advances Offshore Guyana Liza Development
(ExxonMobil, 12.Jun.2018) – The Liza Phase 1 development continues to rapidly progress, with the commencement of development drilling offshore Guyana, ExxonMobil said. Development drilling began in May for the first […]
PDVSA Completes First Ship-to-Ship Transfer
(Kallanish Energy, 11.Jun.2018) — Venezuela’s PDVSA has reportedly completed its first ship-to-ship (STS) transfer last week, in a move to tackle the severe bottleneck of tankers around its main crude […]
What is in store for Mexican oil under a new leader?
(Financial Times, Nick Butler, 10.Jun.2018) Among this year’s many elections — from Iraq to Malaysia to Russia — none is more important for the international energy business than the presidential […]
Chevron Brazil Chief to Lead Venezuela Ops After Arrests
(Reuters, 9.Jun.2018) — US oil producer Chevron Corp permanently assigned its Brazil country chief to run its Venezuelan operations, three sources said this week, after the months-long detention of two […]
Regional Deepwater Industry in Southern Caribbean
(Energy Analytics Institute, Aaron Simonsky, 7.Jun.2018) – Kevin Ramnarine discusses the regional deep-water industry in the southern Caribbean during a technical speech in Trinidad on the emerging regional deep-water province of […]
Cuba’s Fuel Supply and Exports Pressure Currency
(Energy Analytics Institute, Piero Stewart, 7.Jun.2018) – Cuba’s foreign currency will be under pressure this year. “Difficulties with fuel supply and a drop in exports have continued to put pressure […]
Deepwater Projects Breakeven at $42/bbl, Ramnarine Says
(Energy Analytics Institute, Aaron Simonsky, 7.Jun.2018) –That’s according to comments by former Trinidad and Tobago Energy Minister Kevin Ramnarine. “On average, deep-water projects need an oil price of US$42 per […]
Maduro Says U.S. Infiltrated Venezuela’s Oil Industry
(Tsvetana Paraskova, OilPrice.com, 6.Jun.2018) — Venezuela’s President Nicolas Maduro has accused the United States of infiltrating senior positions at the Venezuelan oil industry. “There was a process of penetration and […]
Venezuela’s Oil Meltdown Defies Belief
(Nick Cunningham, OilPrice.com, 6.Jun.2018) — Venezuela might have to declare force majeure on its oil exports as production plunges and its ports are unable to ship enough crude. The ongoing […]
Venezuelan Decree Aims to Boost PDVSA Oil Capacity
(Energy Analytics Institute, Piero Stewart, 5.Jun.2018) – Decree No. 3368, dated April 12, 2018, and published in Gazette No. 41376, establishes a special transitional regime aimed at boosting Venezuela’s oil […]
Venezuela Says 23,319 Wells Have 1.4 MMb/d Recovery Potential
(Energy Analytics Institute, Piero Stewart, 5.Jun.2018) – Venezuela’s Oil Minister Manuel Quevedo says the state oil company has identified 23,319 wells which have potential to recover Venezuela’s oil production by […]
PDVSA mulling force majeure on oil exports -Argus
(Reuters, 5.Jun.2018) — Venezuela’s state-owned PDVSA is considering a declaration of force majeure on some of its oil supply contracts in June unless its clients agree to accept volume reductions […]
Ramnarine Talks About Southern Caribbean Deepwater Industry
(Energy Analytics Institute, Ian Silverman, 31.May.2018) – Former Trinidad and Tobago Energy Minister Kevin Ramnarine will speak in Port of Spain about the regional deepwater industry in the Southern Caribbean. […]
Venezuela’s Grim Realities
(Anthony Venezia, Energy Intelligence, 30.May.2018) — The political and economic crisis afflicting Venezuela typically makes international headlines in connection with the possibility of sanctions being imposed on Caracas by the […]
Guyana’s Energy Agency Responds in Q&A about Fuel Smuggling
(Energy Analytics Institute, Piero Stewart, 30.May.2018) – Fuel smuggling from countries neighbouring Guyana is a major issue. The small South American country has developed the Fuel Marking Programme to address […]
India Says No Plans for Tade with Venezuela’s ‘petro’
(Reuters, 28.May.2018) — India said on Monday it had no plans to use Venezuela’s local cryptocurrency ‘petro’ in oil trade with the Latin American nation, which is facing sanctions from […]
Venezuela’s Energy Sectors Remain Attractive, Unattractive
(Energy Analytics Institute, 28.May.2018) — Venezuela’s upstream, downstream and midstream sectors remain attractive, yet unattractive to investors. Why the contradiction? The three sectors remain highly attractive due to the fact […]
Venezuela’s Ex-Oil Czar Sees Economic Collapse Accelerating
(AP, 27.May.2018) – Venezuela’s former oil czar said crude production in the OPEC nation will continue to plummet in the aftermath of President Nicolas Maduro’s re-election, as the embattled socialist […]
PDVSA owes Cardon IV partners Eni and Repsol $1bn
(Energy Analytics Institute, Piero Stewart, 25.May.2018) ‐- Venezuela’s state oil company Petróleos de Venezuela owes an estimated $1bn to its partners in the Cardón IV natural gas project offshore. Gas […]
Energy, Education, and Learning Through NRG ED
(Energy Analytics Institute, Aaron Simonsky, 24.May.2018) – Energy Analytics Institute, formerly LatinPetroleum Inc., continues to promote its “Energy Education Initiative” in the Americas, also known as “NRG ED.” NRG ED […]
The insignificance of Venezuela’s 342-year R/P ratio
(Energy Analytics Institute, Pietro D. Pitts, 24.May.2018) – Venezuela’s reserves-to-production or R/P ratio was a remarkable 342 times in 2016 based on reserves of 300.9 billion barrels and production of […]
Venezuela Election, US Sanctions, Rising Prices, Falling Output
(Platts, 18.May.2018) — Ahead of Sunday’s presidential election in Venezuela, Risa Grais-Targow, director-Latin America, at the Eurasia Group, spoke to S&P Global Platts about the expected US response, the impact […]
Venezuela Oil Output Down to 1949 Levels
(Energy Analytics Institute, Aaron Simonsky, 18.May.2018) – Venezuela’s oil production continues to fall, and further declines are anticipated due to a number of problems at state oil company PDVSA, according […]
PDVSA Looks to Recuperate Lake Vessels in Bachaquero
(Energy Analytics Institute, Aaron Simonsky, 17.May.2018) — PDVSA officials Executive Vice President Ysmel Serrano and External Directors Ricardo León and Yurbis Gómez visited with workers from the Petrozamora mixed company, […]
Factbox: Venezuela’s Ayacucho Block 1
(Energy Analytics Institute, Jared Yamin, 14.May.2018) – Venezuela’s Ayacucho Block is one of four that comprise the Hugo Chavez Orinoco Heavy Oil Belt, also known as the Faja. Collectively, the […]
PDVSA Ex-President Luis Giusti Says Co. Bankrupt
(Energy Analytics Institute, Jared Yamin, 14.May.2018) – Venezuela’s state oil company Petróleos de Venezuela, S.A. (PDVSA) is bankrupt, at least that what its former president Luis Giusti thinks. “If you […]
PDVSA Inaugurates Valdez Thermoelectric Plant in Güiria
(Energy Analytics Institute, Jared Yamin, 14.May.2018) – PDVSA inaugurated the 175 megawatt TG1 turbo-generating unit of the Juan Manuel Valdez Thermoelectric Plant located within the CIGMA industrial complex in Güiria, […]
Conoco Authorized to Seize $636 Mln in PDVSA Assets
(Reuters, 13.May.2018) – A Curacao court has authorized ConocoPhillips to seize about $636 million in assets belonging to Venezuela’s state oil company PDVSA due to the 2007 nationalization of the […]
PDVSA’s Quevedo Meets with Service Providers in Maturin
(Energy Analytics Institute, Aaron Simonsky, 8.May.2018) – Venezuela’s Oil Minister and PDVSA President Manuel Quevedo traveled to Maturín to meet with representatives from companies that provide services to PDVSA’s Eastern […]
PDVSA Audit and Venezuela Oil Sector Opening Needed
(Energy Analytics Institute, Piero Stewart, 7.May.2018) – Venezuela’s opposition presidential candidate Henri Falcon said changes need to be made at state oil company Petróleos de Venezuela, S.A.. He also said […]
Venezuela Ratifies PDVSA President Quevedo, Names Board
(Energy Analytics Institute, Aaron Simonsky, 6.May.2018) – Venezuela published its Official Gazette No. 41,389 on 3 May 3 2018 which detailed Decree No. 3398 and the naming of the Board […]
Venezuela’s oil minister promotes partnerships in the Faja
(PDVSA, 5.May.2018) – People’s Minister of Petroleum and President of Petroleos de Venezuela SA (PDVSA), Manuel Quevedo, held a strategic meeting with oil business leaders in the Ayacucho Division of […]
Venezuela’s Oil Sector Glory Days [EAItv]
(Energy Analytics Institute, Piero Stewart, 1.May.2018) – A brief look at Venezuela’s oil sector glory days. Will they return?
ECLAC Ssays Venezuela’s Economic Activity to Fall 8.5% in 2018
(Energy Analytics Institute, Aaron Simonsky, 1.May.2018) – The United Nations Economic Commission for Latin America and the Caribbean, also known as ECLAC or CEPAL by its Spanish acronym, projects economic […]
Venezuela Never Closed Its Doors on T&T Nationals: Lawmaker Says
(Energy Analytics Institute, Ian Silverman, 30.Apr.2018) – Venezuelan lawmaker José Brito wrote in a Twitter post that the OPEC country never closed its doors to the hundreds of Trinidadian nationals […]
Total President Says Output At One Venezuela Field Down 33%
(Energy Analytics Institute, Piero Stewart, 22.Apr.2018) – Patrick Pouyanne, the Chief Executive Officer of French major Total, announced production at one of its oil fields in Venezuela was down to […]
PDVSA Refining VP Blanco Visits Puerto La Cruz Refinery
(Energy Analytics Institute, 28.Mar.2018) – PDVSA Refining Vice President Guillermo Blanco visited the operational areas of Puerto La Cruz Refinery (RPLC), located in northern Anzoátegui state, reported PDVSA in an […]
PetroChina, Rosneft Leave Venezuela Refining Projects
(Kallanish Energy, 28.Mar.2018) – Chinese and Russian state oil companies PetroChina and Rosneft will not pay the costs of repairing and modernizing Venezuela’s Cardón and Amuay refineries for PDVSA, according […]
Venezuela Tries To Pay Russian Debt With Cryptocurrency
(Tsvetana Paraskova, OilPrice.com, 28.Mar.2018) – If crisis-hit Venezuela was hoping to pay off its US$3.15-billion debt to Russia with its new cryptocurrency, those hopes have been shattered as the Russian […]
Venezuela’s Refining Capacity Impresses But Utilization Tells Story
(Energy Analytics Institute, Pietro D. Pitts, 27.Mar.2018) – Venezuela’s PDVSA owns six domestic refineries with a combined processing capacity of 1,303 thousand barrels per day (Mb/d), according to data from […]
Officials from Trinidad and Venezuela Discuss Gas Deals
(Energy Analytics Institute, Piero Stewart, 27.Mar.2018) – Delegations from Trinidad and Tobago and Venezuela meet in Caracas to review progress related to gas agreements between both nations, reported PDVSA in […]
PDVSA to Shut Three of Four Refineries Indefinitely: Platts
(Platts, 22.Mar.2018) – PDVSA is planning to close three of its four large refineries in Venezuela indefinitely due to of lack of crude to process and because the state company […]
Jamaica, Venezuelan Officials Discuss Bilateral Issues
(Energy Analytics Institute, Piero Stewart, 22.Mar.2018) – Jamaica’s Foreign Minister Kamina Johnson-Smith and her Venezuelan counterpart Jorge Arreaza held a high-level bilateral meeting in Caracas regarding ways to strengthen energy […]
Oil Workers Protest at PDVSA HQs In Caracas
(Energy Analytics Institute, Piero Stewart, 22.Mar.2018) – Workers at PDVSA’s headquarters in Caracas, La Campiña, participated in protest today inside the company’s main building, reported the daily El Nacional, citing […]
PDVSA Lagunillas Site Fire Takes 12 Hours to Extinguish
(Energy Analytics Institute, Piero Stewart, 20.Mar.2018) – A fire reported Saturday 17 March 2018 at a PDVSA controlled petroleum site located in the Lagunillas sector in Zulia state took an […]
PDVSA Collective Contract Eliminates 8 Hour Shifts
(Energy Analytics Institute, Piero Stewart, 19.Mar.2018) – A new collective contract signed by PDVSA on 14 March 2018 eliminates 8 hour shifts and work lunch rooms, reported the newspaper El […]
Guyana Is About to Open Up Pandora’s Barrel
(Mac Margolis, 16.Feb.2018) – Wedged between Brazil and Venezuela, Guyana could easily go unnoticed. It has fewer than 750,000 people and a per capita income of $4,300, half the regional […]