(Energy Analytics Institute, Piero Stewart, 2.Feb.2017) – PDVSA reduced operating costs by more than 30 percent, announced the entity in an official statement, citing company President Eulogio Del Pino. No […]
Category: Venezuela
Venezuela energy
Maduro Ask Citizens to Reduce Consumption
(Energy Analytics Institute, Piero Stewart, 2.Feb.2017) – Venezuela’s President Nicolas Maduro called on the Venezuelan citizens to reduce their consumption of fuels so that they could be used for exports […]
Maduro Names New Central Bank Head
(Energy Analytics Institute, Piero Stewart, 2.Feb.2017) – Venezuela’s President Nicolas Maduro named Ricardo Sanguino as the new President of the Venezuelan Central Bank (BCV). Sanguino replaces Nelson Merentes, who resigned […]
Mariscal Sucre Has 600 MMcf/d Production Potential
(Piero Stewart, Energy Analytics Institute, 1.Feb.2017) – Venezuela’s Mariscal Sucre natural gas project offshore has a production potential of 600 million cubic feet per day. The company plans to use […]
Venezuelan Executives Discuss Oil Agenda
(Energy Analytics Institute, Piero Stewart, 29.Jan.2017) – Members of the Hydrocarbon Motor of the Bolivariana Economic Agenda met in Caracas to discuss advances under the plan. The meeting, held January […]
Maduro Announces Shakeup to PDVSA Board
(Energy Analytics Institute, Pietro D. Pitts, 29.Jan.2017) – Venezuela’s President Nicolas Maduro announced changes to the Board of Directors at PDVSA and said the members would be expected to assume […]
Bariven to be Heard in Restitution Process
(PDVSA, 28.Jan.2017) – Bariven, S.A., a PDVSA subsidiary, has taken legal action to obtain compensation for damages suffered due to fraudulent actions by former contractors and suppliers who in collusion […]
Venezuela Eyes Boosting Hydrocarbons Economic Driver
(PDVSA, 26.Jan.2017) – Members of the Hydrocarbons Economic Driver of the Bolivarian Economic Agenda, met at La Campiña headquarters of PDVSA in Caracas, for the presentation of the first annual […]
PDVSA Financial Debt Down by $2.7 Bln in 2016
(Energy Analytics Institute, Aaron Simonsky, 20.Jan.2017) – Cash-strapped PDVSA went out on a limb again last year to reduce its long-term financial debt. PDVSA, as the Caracas-based company is known, […]
Maduro Names Citgo President as Venezuela’s Oil Minister
(Energy Analytics Institute, Aaron Simonsky, 20.Jan.2017) – Venezuela President Nicolas Maduro announced the appointment of Nelson MartÃnez, the actual president of Citgo Petroleum Corporation, as the country’s new petroleum minister. […]
Maduro Fires Pequiven President
(Energy Analytics Institute, Piero Stewart, 16.Jan.2017) – Venezuela’s newly appointed Vice President Tareck Aissami announced that the country’s President Nicolas Maduro had ordered the dismissal of Pequien President Juancarlo Depablos […]
PDVSA’s Domestic Refining Utilization Falls
(Energy Analytics Institute, Aaron Simonsky, 16.Jan.2017) – Refining utilization rates at PDVSA’s six domestic refineries averaged 30.7 percent in 2016 owing to permanent and temporary plant shut downs, and continued […]
Venezuela Moving Towards Oil Industry Restructuring
(Energy Analytics Institute, Aaron Simonsky, 4.Jan.2017) – “Venezuelan President Nicolas Maduro says ‘we’re going towards a restructuring of the (oil) industry’ and names Nelson MartÃnez, the actual president of Houston-based […]
PetroMonagas Initiates Drilling at UBCP14
(Energy Analytics Institute, Piero Stewart, 2.Jan.2017) – PDVSA PetroMonagas initiated directional drilling activities in RÃo Yabo — located in the Aceital del Yabo community in Anzoátegui state — and plans […]
Venezuela Implements Oil Cut Agreement
(PDVSA, 27.Dec.2016) – PDVSA announced implementation of an agreement to reduce production reached by member and non member countries of the Organization of the Petroleum Exporting Countries (OPEC). Under the […]
Venezuela Oil Output to Near 2 MMb/d
(Energy Analytics Institute, Piero Stewart, 27.Dec.2016) – OPEC member nation Venezuela, which produced 2.097 million barrels per day (MMb/d) in November, according to the December 2016 Monthly Oil Market Report […]
Six Dead in PDVSA Truck Accident
(Energy Analytics Institute, Piero Stewart, 27.Dec.2016) – An accident between a fuel transport truck owned by PDVSA and a vehicle carrying six persons from Venezuela’s armed forces unfortunately claimed resulted […]
PDVSA Incorporates New Grads into Workforce
(Energy Analytics Institute, Ian Silverman, 26.Dec.2016) – Three officials from PDVSA participated in a graduation ceremony in San Tomé, south of Anzoátegui state, whereby 124 graduates received diplomas and were […]
PDVSA Says It Maintains Full Ownership of Citgo
(Energy Analytics Institute, Ian Silverman, 25.Dec.2016) – PDVSA maintains full ownership and control over its Houston-based subsidiary Citgo Petroleum Corporation. PDVSA, in an official statement, also downplayed media versions and […]
Looting Concerns in Venezuela Oil Areas
(Energy Analytics Institute, Piero Stewart, 23.Dec.2016) – Looting in Bolivar state will not yet affect Venezuela’s crude oil production or export capacity. However, fears of similar looting spreading to oil […]
Maduro Seeks Price Strategy Closure
(Energy Analytics Institute, Piero Stewart, 23.Dec.2016) – Venezuela’s relentless search for a fair oil price continues as President Nicolas Maduro prepares to travel to various oil producing countries to finalize […]
PDVSA To Industrialize Faja Oil
(PDVSA, 15.Dec.2016) – As of 2019, PDVSA, through Puerto La Cruz Refinery’s Deep Conversion Project, will industrialize crude oil from the Orinoco Oil Belt using HDHPLUS®, a Venezuelan technology, announced […]
PDVSA Signs Agreements with Shell
(PDVSA, 5.Dec.2016) – PDVSA and Shell Venezuela signed two agreements at Miraflores Palace. Both companies have stakes in the joint venture Petroregional del Lago, S.A. and plans to boost its […]
Trinidad and Venezuela Reach Deals
(Energy Analytics Institute, Piero Stewart, 5.Dec.2016) – Together with President Nicolas Maduro and Prime Minister of Trinidad Keith Rowley we reached historic energy agreements, wrote PDVSA President Eulogio Del Pino […]
Venezuela to Export Gas to Trinidad
(PDVSA, 5.Dec.2016) – During a meeting in Miraflores Palace, the People’s Power Minister of Petroleum and President of PDVSA Eulogio Del Pino and the Prime Minister of Trinidad and Tobago […]
Harvest Natural Resources Reports 3Q:16 Results
(Harvest Natural Resources, Inc., 9.Nov.2016) – Harvest Natural Resources, Inc. reported a third quarter 2016 net loss of approximately $7.1 million, or $0.55 per diluted share, compared with net income […]
PDVSA Awards $138mn Contract To Tackle Petcoke Problem
(Reuters, 23.Sep.2016) — Venezuelan state oil company PDVSA said on Friday that Maroil Trading Inc has won a $138 million contract to remove a large pile of petroleum coke at […]
Venezuela Still the Country with the Largest Oil Reserves
(Energy Analytics Institute, Pietro D. Pitts, 14.Aug.2016) – Venezuela, the resource-rich South American country known for its chocolates, Caribbean beaches, lively citizens and beauty queens, still reigns as the country […]
Venezuela Cancels Premier LAPS Oil Event
(Energy Analytics Institute, Pietro D. Pitts, 4.Jul.2016) – Venezuela will not hold its annual Latin American Petroleum Show (LAPS). The decision to cancel the event this year is due to […]
Venezuela to soon initiate gas shipments to Colombia
(Energy Analytics Institute, Piero Stewart, 4.Jul.2016) – Venezuela plans to soon initiate shipments of natural gas to Colombia, reported Venezuela’s new agency AVN, citing the country’s Oil Minister Eulogio Del […]
Venezuela Producing 3.8 MMboe/d, PDVSA President Says
(Energy Analytics Institute, Piero Stewart, 4.Jul.2016) –Venezuela is producing 3.8 million barrels of oil equivalent per day, PDVSA President Eulogio Del Pino said during an interview on the television program […]
Maduro Holds Meeting with Citizens’ Joseph Kennedy
(Energy Analytics Institute, Piero Stewart, 2.Jul.2016) – Venezuela’s President Nicolas Maduro held a meeting with Citizens Energy Corporation founder Joseph Kennedy in Caracas to discuss matters related to the U.S.-based […]
President Obama Insists Venezuela Respect Democratic Process
(Energy Analytics Institute, Jared Yamin, 25.Jun.2016) – U.S. President Barack Obama insists the Venezuelan government respect the democratic process regarding calls for a recall referendum against Venezuelan President Nicolas Maduro, […]
PDVSA Says Drilling Rig Inventory at 311 Units
(Energy Analytics Institute, Piero Stewart, 25.Jun.2016) – PDVSA’s inventory of drilling rigs in Venezuela at the end of May 2016 reached 311 units, of which 156 were owned by the […]
Venezuela Sends Two Fuel Tankers to Singapore
(Energy Analytics Institute, Piero Stewart, 25.Jun.2016) – Venezuela sent two fuel tankers at full capacity to Singapore, reported Reuters. The tankers, New Dream, rented by PetroChina, Britanis, and Trafigura, are […]
PDVSA President Del Pino Orders Co. Audit
(Energy Analytics Institute, Jared Yamin, 24.Jun.2016) – PDVSA President Eulogio Del Pino ordered the investigation into presumed acts of corruption and bribery within the state oil company, reported the daily […]
PDVSA Raises Recovery Factor in South JunÃn District
(Energy Analytics Institute, Jared Yamin, 21.Jun.2016) – PDVSA has increased the recovery factor to 35 percent from 20 percent in the South JunÃn district of the Orinoco Heavy Oil Belt […]
PDVSA Completes Directional Work on 70th Well in Maracaibo
(Energy Analytics Institute, Jared Yamin, 20.Jun.2016) – PDVSA’s Western Petroleum Services division has performed services on a total of 70 drilling wells with the recent completion of work on a […]
ExxonMobil Sells Share of Chalmette Refining, LLC in Louisiana
(Exxon Mobil, 18.Jun.2016) – Exxon Mobil Corporation has reached an agreement with PBF Energy Inc. for the sale and purchase of its 50 percent interest in Chalmette Refining, LLC in […]
Venezuela Needs to Learn to Live with $40-$45/Bbl Oil
(Energy Analytics Institute, Jared Yamin, 16.Jun.2016) – Venezuela has to learn to live with oil prices between $40 per barrel and $45 per barrel in order to stop its oil […]
Venezuela Seeks to Boost Gas Supply by Reducing Flaring
(Energy Analytics Institute, Piero Stewart, 15.Jun.2016) – Latin American oil producer Venezuela plans to increase the supply of natural gas in its domestic market by reducing flaring and using the […]
PDVSA, Inpex Invest $350 Mln to Boost Gas Output
(Energy Analytics Institute, Piero Stewart, 15.Jun.2016) – PDVSA and Japan’s Inpex invested $350 million to improve gas compression operations at the Copa Macoya plant in Guarico state, and boost output […]
Fuel Demand in Colombia Increases with Closing of Venezuelan Border
(Energy Analytics Institute, Jared Yamin, 15.Jun.2016) – Demand for fuels in Colombia increased 11 percent due to the closing of the border with Venezuela, wrote Colombia’s Energy Vice Minister in […]
Venezuela in Talks with China About Grace Period
(Energy Analytics Institute, Jared Yamin, 14.Jun.2016) – Venezuela continues to discuss matters with China regarding a grace period for the South American country to pay back loans to the Asian […]
Venezuela Aims to Boost Oil Output Over Next Six Months
(Energy Analytics Institute, Jared Yamin, 14.Jun.2016) – Venezuela’s President Nicolas Maduro said his country needs to boost its crude oil output over the next six months in accordance with the […]
PDVSA Still Seeks Friendly Settlement with PetroPar
(Energy Analytics Institute, Jared Yamin, 12.Jun.2016) – PDVSA continues to seek a friendly settlement with PetroPar in regards amounts it is owed by its Paraguayan counterpart, announced PDVSA in an […]
Schlumberger Rigs to Operate Under Different Scheme
(Energy Analytics Institute, Jared Yamin, 11.Jun.2016) — Schlumberger’s fourteen drilling rigs in Venezuela will soon commence to operate under a different financial scheme, reported PDVSA in an official statement on […]
CITGO, Aruba Gov’t Finalize San Nicolas Refinery Deal
(Energy Analytics Institute, Pietro D. Pitts, 11.Jun.2016) – Authorities from the governments of Aruba, the Bolivarian Republic of Venezuela, and officials from Venezuela’s state oil company Petróleos de Venezuela, S.A. […]