(Energy Analytics Institute, 1.May.2022) — Energy briefs including Trinidad and Tobago’s Prime Minister Keith Rowley and Minister of Energy and Energy Industries Stuart Young visiting Washington, DC to discuss regional...
(Energy Analytics Institute, 29.Apr.2022) — The purpose for upgrading Venezuela's heavy and extra-heavy crude oil (EHCO) is to achieve substantial changes in values that determine the quality of the oil....
(Energy Analytics Institute, 22.Apr.2022) — Venezuela is home to the Hugo Chávez Orinoco Heavy Oil Belt, also known as the Faja, which contains original oil in place (OOIP) estimated at...
(Reuters, 4.May.2020) — Venezuela’s oilfields produced 687,000 barrels of crude last Saturday, up from 653,000 barrels on Friday but below the 718,000 barrels per day (bpd) the country said it...
(Reuters, 28.Apr.2020) — The latest fire to erupt at one of Venezuelan state-owned PdV's oil installations has temporarily knocked out up to 130,000 b/d of heavy crude production from three...
(Oilprice.com, Irina Slav, 21.Nov.2019) — Venezuela will use some 30 million barrels of oil it has in storage as backing for its national cryptocurrency, the petro, Reuters reports, citing a...
(Project Syndicate, Mauricio Cárdenas, 5.Nov.2019) — Some regard Latin America as the world’s new oil frontier, and think that the region could potentially add three million barrels per day to...
(Argus, 14.May.2019) — Venezuela's crude production has dropped to around 500,000 b/d as sluggish export loadings and replete storage force state-owned PdV to shut in wells, four company officials tell...
(Oilprice.com, Tsvetana Paraskova, 25.Apr.2019) — Massive blackouts in Venezuela in March and April have drastically reduced oil production at Chevron’s biggest oil joint venture in the country, Bloomberg reported on...
(S&P Global Platts, 24.Apr.2019) — Venezuela's state-owned PDVSA is set to export 955,000 b/d of crude in April, up from 843,000 b/d in March, when several blackouts crippled export infrastructure,...
(Oilprice.com, Irina Slav, 26.Feb.2019) — More than eight million barrels of Venezuelan crude oil is sitting in tankers as U.S. sanctions are preventing the country from selling the commodity worth...
(S&P Global Platts, 22.Feb.2019) — US sanctions could more than halve Venezuela's crude production by the end of the year, hitting heavy oil joint ventures in the Orinoco Belt and...
(Reuters, 19.Feb.2019) — A fire hit a crude oil pumping station in Venezuela’s Orinoco belt region on Tuesday, state-owned oil company Petroleos de Venezuela (PDVSA) said, disrupting crude transportation as...
(Energy Analytics Institute, Piero Stewart, 21.Jan.2019) — Representatives from companies in Venezuela discussed strategies to recuperate production from blocks located in the Hugo Chávez Orinoco Belt, or the Faja. The...
(Wall Street Journal, Kejal Vyas and Bradley Olson, 8.Nov.2018) — For nearly a century, Chevron Corp. has weathered dictatorships, coups and nationalization drives to keep pumping oil in Venezuela. But recently,...
(AP, 20.Sep.2018) — Venezuelan President Nicolas Maduro said Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian...
(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...
(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...
(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...
(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...
(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...
(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...
[caption id="attachment_2968" align="alignnone" width="960"] BOSTON, MA: People walk through the rain in front of the Citgo sign in Kenmore Square, Boston, July 18, 2016. (Photo by Timothy Tai for The...
(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...
(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...
(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...
(Bloomberg, 4.Jul.2018) – Venezuela’s 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...
[caption id="attachment_1673" align="alignnone" width="682"] Workers at PetroPiar JV in Venezuela. Source: PDVSA[/caption] (Energy Analytics Institute, Piero Stewart, 3.Jul.2018) – Work on the upgrader concluded four days ahead of schedule, according...
(Reuters, 26.Jun.2018) – Venezuela’s 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...
(Argus, 26.Jun.2018) – 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...
(Energy Analytics Institute, Piero Stewart, 26.Jun.2018) – The early morning incident occurred at the José Antonio Anzoátegui Industrial Complex (CIJAA) in Barcelona, Venezuela. The fire occurred at the hydro processing...
(EIA, 21.Jun.2018) – 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...
(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...
(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...
(Energy Analytics Institute, Piero Stewart, 1.May.2018) – A brief look at Venezuela’s oil sector glory days. Will they return? https://youtu.be/22pUoLvYcko
(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...
(PDVSA, 4.Feb.2017) – PDVSA Vice President of Exploration and Production Nelson Ferrer, led a tour of the facilities of the Orinoco Drill Operators Cooperative Association, which absorbed former Petrex Sudamérica...
(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...
[caption id="attachment_564" align="alignnone" width="1088"] Amuay refinery in Venezuela. Source: Pietro D. Pitts[/caption] (Energy Analytics Institute, Pietro D. Pitts, 14.Sep.2016) – On a brief taxi ride from Punto Fijo’s Josefa Camejo...
(Energy Analytics Institute, Jared Yamin, 21.Jun.2016) – PDVSA has increased the recovery factor to 35 percent from 20 percent in the South Junín district of the Orinoco Heavy Oil Belt...
(Energy Analytics Institute, Piero Stewart, 28.Apr.2016) — PDVSA has started work on the heavy oil treatment plants at the joint-venture companies Petrolera Sinovensa and Petrocarabobo, located in the south of...
(Rosneft, 8.Oct.2015) – Rosneft, as part of a PetroMiranda JV including PDVSA and Gazprom Neft, has drilled an unprecedented horizontal well GG1-14 at the Junin-6 block. The well is unique...
(Energy Analytics Institute, Jared Yamin, 26.Mar.2015) – Venezuela presented a letter to the ICSID court requesting the dismissal of judge Kenneth Keith. Keith is the president of the arbitration tribunal...
(Energy Analytics Institute, Piero Stewart, 9.Mar.2015) – “We are advancing with Nicaragua and opening up possibilities to the rest of the Caribbean,” said Venezuela's Oil Minister Asdrubal Chavez on state...
(Energy Analytics Institute, Ian Silverman, 7.Oct.2013) – The 1st Business Round-table meetings between Venezuelan and Indian companies took place in Caracas from October 7-9, 2013. Highlights from the round-table follow:...
(Energy Analytics Institute, Piero Stewart, 27.Jul.2013) – The Governor of Bolivar state in Venezuela, Francisco José Rangel Gómez, commented on the Faja. "Chavez gave us political independence and now we...
(Energy Analytics Institute, Piero Stewart, 27.Jul.2013) – PDVSA's and Venezuela’s Oil Minister President Rafael Ramirez spoke at the closing of the Sixth National Production Meetings in Puerto Ordaz, Venezuela. What...