(Energy Analytics Institute, Piero Stewart, 3.Jul.2018) – Work on the upgrader concluded four days ahead of schedule, according to Caracas-based PDVSA. Operational activities at the upgrader included substitutions in the naphtha and light vacuum gas oil (LVGO) lines, maintenance of interchangers, internal drum replacements (Demister), and replacements related to the […]
Tag: Faja
Venezuela’s Petropiar upgrader begins restart
(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 state-run company and two sources close to the facility. Venezuela’s crude upgraders, which can convert near 700,000 bpd of extra-heavy […]
PdV Restarting PetroPiar Upgrader
(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 stake in Petropiar, is “working closely” with PdV to restart the facility, the PdV executive said. Chevron regularly declines to […]
PDVSA Controls Fire at PetroPiar Furnace
(Energy Analytics Institute, Piero Stewart, 26.Jun.2018) – The early morning incident occurred at the JosĂ© Antonio Anzoátegui Industrial Complex (CIJAA) in Barcelona, Venezuela. The fire occurred at the hydro processing unit furnace 14 F-001, announced PDVSA in an official statement. The PetroPiar joint venture upgrades crude oil from the Hugo […]
EIA Publishes Updated Venezuela Country Report
(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 reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil, reported […]
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 that Venezuela — the country with the world’s largest crude oil reserve base and the eighth largest natural gas reserve […]
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 four blocks, comprised of Boyacá, JunĂn, Ayacucho and Carabobo, contain the largest accumulation of heavy and extra-heavy crude oil (ECHO) […]
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?
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 Finance Ministry announces that it won’t be accepting digital coin. Venezuela will not be paying any part of its debt […]
PDVSA Exploration VP Tours Faja Ops
(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 SudamĂ©rica workers, in the Hugo Chávez Orinoco Oil Belt. He was able to see the progress of the new labor scheme […]
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 the People’s Power Minister of Foreign Trade and International Investment Jesus FarĂa. Minister FarĂa and the Ambassador of South Korea […]
PDVSA Raises Recovery Factor in South JunĂn District
(Energy Analytics Institute, Jared Yamin, 21.Jun.2016) – PDVSA has increased the recovery factor to 35 percent from 20 percent in the South JunĂn district of the Orinoco Heavy Oil Belt or the Faja using various technologies. Said technologies could establish a base or floor recovery factor in the Faja of […]
PDVSA advances with plants at Sinovensa, Petrocarabobo projects in Venezuela
(Energy Analytics Institute, Piero Stewart, 28.Apr.2016, Words: 285) — PDVSA has started work on the heavy oil treatment plants at the joint-venture companies Petrolera Sinovensa and Petrocarabobo, located in the south of Monagas and Anzoátegui states, respectively. Investments in the Petrolera Sinovensa plant are expected to total $40 million plus […]
Rosneft Drills Record Well in Venezuela
(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 for the shallow depth, only 1,140 feet or about 347 meters, of the reservoir interval and the length of horizontal […]
Venezuela Seeks Disqualification of ICSID Judges
(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 in the case brought to the court by ConocoPhillips in its wrongful expropriation case against the government of Venezuela which […]
Venezuela Opening Ops to Nicaragua, Caribbean
(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 television, referring to Nicaragua and other Petrocaribe member countries participating in activities in Venezuela’s Orinoco heavy oil belt or Faja. […]
1St Venezuela-India Round-table in Caracas
(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: Venezuelan Oil Minister Rafael Ramirez addressed opening ceremony: Venezuelan-India create working tables to collaborate on development of the six topics/areas: […]
Bolivar State Governor Comments On Faja
(Energy Analytics Institute, Piero Stewart, 27.Jul.2013) – The Governor of Bolivar state in Venezuela, Francisco JosĂ© Rangel GĂłmez, commented on the Faja. “Chavez gave us political independence and now we will obtain economic independence with the development of the Faja.” ***
Speech by Rafael Ramirez from Puerto Ordaz
(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 follows are excerpts from the speech. Speech by Rafael Ramirez on Venezuelan petroleum sector: Ramirez: At the closing event for […]