(Bloomberg, 18.May.2020) — The U.S. Supreme Court rejected an appeal by Venezuela in its fight to retain control of oil refiner Citgo Holding Inc., putting the country a step closer […]
Tag: Juan Guaido
Venezuelan Oil Plan Runs Aground
(Argus, 8.May.2020) — A sweeping proposal to draw investment into an Opec nation would normally turn some heads. That is what Venezuela’s US-backed political opposition had been expecting when it […]
Pipeline Blast Halts PetroPiar
(Argus, 10.Mar.2020) — Venezuelan state-owned PdV’s PetroPiar joint venture with Chevron suspended upgrading operations following a pipeline explosion early today, three oil workers at the facility tell Argus. The plant […]
Venezuela Cause Drifting Off International Agenda
(Argus, 10.Mar.2020) — Venezuela’s US-backed opposition is scrambling to stay relevant at home and abroad as the US and other foreign patrons turn inward to focus on slowing the spread […]
Trump Wants Pressure Raised On Maduro
(Bloomberg, 21.Feb.2020) — President Donald Trump is frustrated that pressure is building too slowly on Venezuelan President Nicolas Maduro and is still considering military options in the country, including a […]
Ask No Questions, Tell No Lies
(Argus, 11.Feb.2020) — Juan Guaido is finally returning to Caracas today, with a vow to dislodge the “usurper” so he and his team of exiles can Make Venezuela Great Again. […]
Russia Sends Lavrov To Venezuela
(Reuters, 4.Feb.2020) — Russian Foreign Minister Sergei Lavrov will visit Venezuela on Friday in a show of support for President Nicolas Maduro, a socialist who Washington wants out of power. […]
Guaido Rubbing Elbows In Surprise Foreign Trip
(Argus, 20.Jan.2020) — The US government is hoping a high-profile international tour by Venezuelan opposition leader Juan Guaido will re-inject momentum into its protracted campaign to unseat President Nicolas Maduro. […]
Oil Is The Only Way Back Up For Venezuela
(Oilprice.com, 19.Jan.2020) — There’s only one path to rebuilding Venezuela, and it’s paved with oil. For the time being, that path leads nowhere. The key to controlling everything now lies […]
Chevron Gets 4th Reprieve From Venezuela Sanctions
(Argus, 17.Jan.2020) — Washington will allow Chevron and four US oil field service providers to continue operating in Venezuela until 22 April by granting a fourth waiver late yesterday from […]
Maduro Seeks Oil Contract Changes: Lawmakers
(Reuters, 8.Jan.2020) — Venezuela’s ruling Socialist Party hopes legislators it recently declared to be in charge of congress will approve changes to ownership of some crucial state oil assets, five […]
Guaido Survival Likely To Buy Chevron More Time
(Argus, 7.Jan.2020) — The White House appears likely to extend a waiver for Chevron to operate in Venezuela after US-backed opposition leader Juan Guaido overcame a government-backed rival to retain […]
US Considering More Venezuela Sanctions
(S&P Global Platts, 6.Jan.2020) — The US may respond to escalating political disarray in Venezuela by allowing a sanctions waiver for Chevron and four US oil services companies to expire […]
US Says Maduro Rigging Coming Vote
(NYT, 20.Dec.2019) — At stake is control of the country’s National Assembly, which is controlled by the opposition leader Juan Guaidó, who has accused President Nicolás Maduro of corruption. The […]
Venezuela Gov’t, Opposition Weigh Giving Firms Operating Rights
(Reuters, Luc Cohen, Deisy Buitrago, Mayela Armas, 6.Dec.2019) — Venezuela’s government and opposition have discussed allowing private companies in joint ventures with state oil company PDVSA to operate oil fields […]
LatAm, US Ban Travel For Venezuela’s Maduro, Allies
(Reuters, Luis Jaime Acosta, 3.Dec.2019) — Fifteen countries in the Americas agreed on Tuesday to ban 29 Venezuelans, including the oil-producing country’s president, Nicolas Maduro, and his close allies, from […]
US Acts Against Movement Of Venezuelan Oil To Cuba
(US Department of State, 3.Dec.2019) — On December 3, the United States identified six PDVSA-owned vessels, pursuant to E.O. 13884 or 13850, being used by the former Maduro regime to […]
Maduro Sent $900mn In Oil To Cuba, U.S. Official Said
(El Nuevo Herald, Nora Gámez Torres, 27.Nov.2019) — Embattled leader Nicolás Maduro sent about $900 million in oil to Cuba this year despite the humanitarian crisis in Venezuela, a U.S. […]
Guaido Sacks Colombia Envoy, Oil Boss Freites Quits
(Argus, 27.Nov.2019) — Another prominent figure in Venezuela’s US-backed parallel administration has abruptly departed and an oil union leader has quit the main opposition political party in the latest signs […]
Rosneft Undermining US Plans In Venezuela?
(Atlantic Council, Matthew Bryza, 27.Nov.2019) — US President Donald Trump is conducting policies of “maximum pressure” on two countries, Venezuela and Iran. In Venezuela, Russia’s state-owned oil company, Rosneft, actively […]
Third Circuit Rejects Citgo Rehearing
(Argus, Elliott Blackburn, 21.Nov.2019) — Federal appeals court judges have denied Venezuela’s request to rehear a July decision upholding the pursuit of the country’s US refining subsidiary Citgo to satisfy […]
US Court Denies Citgo Rehearing
(S&P Global Platts, 21.Nov.2019) — A US appeals court Thursday denied Venezuela’s request for it to reconsider its ruling allowing a PDVSA creditor to go after US refiner Citgo, its […]
CITGO: Worth Protecting?
(AFPM, Chet Thompson, 22.Oct.2019) — In the last ten years the fracking revolution has led to amazing growth and vastly increased energy security for the United States. We’ve gone from […]
Guaido Team Proposes Truce To PDVSA Bondholders
(Reuters, Marianna Parraga and Corina Pons, 18.Oct2019) — Venezuela’s opposition last week sent holders of state oil company PDVSA’s 2020 bond a proposal to suspend legal actions for 90 days, […]
Chevron To Receive Venezuelan Oil Cargo
(Reuters, Marianna Parraga, 18.Oct.2019) — U.S. oil major Chevron Corp is scheduled this month to receive at least one cargo of crude oil from sanctioned Venezuelan state oil company PDVSA, […]
Maduro Rivals Seek Break With Citgo
(Argus, 17.Oct.2019) — Venezuela’s main political opposition is pressing for a deal with foreign bondholders to suspend a looming $914mn obligation that is tethered to coveted US refining assets. The […]
Guaido Camp Declares PDVSA 2020 Bond Void
(venezuelanalysis.com, 16.Oct.2019) — Venezuela’s CITGO could be seized by creditors. Venezuela’s opposition-held National Assembly (AN) passed a resolution Tuesday branding the country’s 2020 PDVSA bond “invalid.” The move comes on […]
Venezuela’s Prize Oil Asset May Soon Be Up For Grabs
(Oilprice.com, Tsvetana Paraskova, 16.Oct.2019) — Venezuela’s opposition is getting ready to file within days a lawsuit in the United States seeking to prevent bond holders of Venezuelan state oil firm […]
Venezuela’s Opposition Snubs PDVSA Bondholders
(Argus, 15.Oct.2019) — Venezuela’s opposition-controlled National Assembly signaled to bondholders today that it will not honor a $914mn principal and interest obligation because it says the debt issuance is unconstitutional. […]
CITGO Key To Trump’s Venezuela Strategy
(Forbes, Ariel Cohen, 8.Oct.2019) — At last month’s United Nations General Assembly, the Lima Group, the U.S.-led coalition of 14 countries in the Americas seeking a solution to the Venezuela […]
Energy Cos Caught In Spat Over Venezuela Sanctions
(Chron, Sergio Chapa, 7.Oct.2019) — Frequent power outages, theft of equipment, a political tug-of-war and billions of dollars in losses would seem to signal to businesses that it’s time to […]
Venezuela Oil Sector May Take 8 Years To Recover
(Yahoo Finance, Akiko Fujita, Anchor/Reporter, 27.Sep.2019) — A top aide to Venezuelan opposition leader Juan Guaido said on Friday it could take up to eight years to restore oil production […]
Guaido IDB Envoy Hausmann Resigns Post
(Argus, 26.Sep.2019) — Venezuela’s parallel administration headed by opposition leader Juan Guaido has lost its most prominent figure, former planning minister and Harvard professor Ricardo Hausmann. Hausmann, who recently hinted […]
Maduro Plots Assembly Grab, Oil-For-Food Floated
(Argus, 24.Sep.2019) — Venezuelan opposition leader Juan Guaido’s constitutional claim to the Opec country’s interim presidency could be undermined by today’s tumultuous return of the governing United Socialist Party (PSUV) […]
Maduro Targets Guaido Over Guyana
(Argus, 6.Sep.2019) — Venezuelan president Nicolas Maduro ordered state prosecutors to lodge treason charges against opposition leader Juan Guaido for allegedly agreeing to relinquish Venezuela’s century-old territorial claim to the […]
Citgo Petroleum Announces 2Q:19 Results
(Citgo, 26.Aug.2019) — The Board of Directors of Citgo Petroleum Corporation is pleased to report significant progress on top company goals. Following its appointment in February 2019, the Citgo Board […]
Citgo Profits Hit By Fallout From Split-CEO
(Reuters, Marianna Parraga, 22.Aug.2019) — The two new top executives at Citgo Petroleum disclosed this week that net income in the second quarter slid to less than half its level […]
New Caracas Blackout Compounds Energy Woes
(AP, 20.Aug.2019) — Parts of Venezuela’s capital and at least one state endured a power blackout on Tuesday lasting several hours, in an occurrence that has become commonplace in the […]
Venezuela’s Congress To Consider Scaled-back Reform
(Reuters, By Luc Cohen, 15.Aug.2019) — Venezuela’s opposition-controlled congress is considering reforms to the country’s oil law that would open up the sector to private investment but are scaled back […]
Guaido Names Execs To Debt Renegotiating Commission
(Energy Analytics Institute, Jared Yamin, 13.Aug.2019) — Venezuela’s National Assembly leader Juan Guaido announced creation of a special commission dedicated to renegotiating the OPEC country’s public debt, the assembly reported […]
Citgo To Name New CEO
(Reuters, Marianna Parraga, 13.Aug.2019) — Citgo Petroleum Corp has selected Carlos Jorda as its next chief executive, according to three people familiar with the matter, turning to a seasoned refinery […]
Trump Imposes New Curbs In Bid To Pressure Maduro
(Bloomberg, 6.Aug.2019) — President Donald Trump imposed further sanctions on Venezuela, freezing the government’s assets in the U.S. and adding immigration restrictions in a move aimed at stepping up pressure […]
US Escalates Venezuela Sanctions
(Platts, 6.Aug.2019) — The US escalated sanctions against Venezuela late Monday and may use the executive order to target crude flows to China and India, analysts said Tuesday. Highlights Analysts […]
The ‘Citgo 6’ Remain Imprisoned In Venezuela
(Oilprice.com, Tsvetana Paraskova, 5.Aug.2019) — Six U.S. executives at Citgo, the U.S. subsidiary of Venezuela’s state-held oil firm PDVSA, were detained by Nicolas Maduro’s regime in Venezuela in November 2017 […]
Guaido Govt Authorized To Pick Citgo BODs, Court Says
(Energy Analytics Institute, Piero Stewart, 5.Aug.2019) — Court says National Assembly leader Juan Guaido authorized to appoint the directors of Houston-based refiner Citgo Petroleum, company spokesperson says. “Today’s decision is […]
Citgo Petroleum Hails Legal Victory
(Citgo, 2.Aug.2019) — A Delaware court affirmed the authority of the Guaido Government to make appointments to the Citgo Petroleum Corporation Board of Directors (in Jiménez et al. v. Palacios et […]
Citgo Holding, Inc. Refinances $1.87bn Debt
(Citgo, 1.Aug.2019) — CITGO Holding, Inc., parent company of CITGO Petroleum Corporation (CPC), confirmed it has completed its previously announced refinancing transactions to redeem and pay-off $1.870 billion of its […]
The U.S.’ Plan To Rebuild Venezuela After Maduro
(WSJ, Paulo Trevisani, 1.Aug.2019) — U.S. Commerce Secretary Wilbur Ross laid out a plan including credit and investment to help rebuild Venezuela’s economy under democratic rule, as Washington continues to […]
Venezuelan Exiles Honing Day-After Action Plan
(Argus, 30.Jul.2019) — Venezuela´s fledgling opposition government is putting the final touches on a strategic package of economic measures designed to allow time for a future administration to adopt sweeping […]
Trump Govt Split Over Chevron’s Venezuela License
(Reuters, Timothy Gardner, 26.Jul.2019) — The Trump administration is split over whether to renew a license this week for energy company Chevron Corp’s operations in Venezuela, with Secretary of State […]