PDVSA Archives - Energy Analytics Institute (EAI)

Judge declares Venezuelan bonds valid, creditors press for Citgo auction resolution

NEW YORK, NEW YORK / HOUSTON, TEXAS (By Luc Cohen and Marianna Parraga, Reuters, 18.Sep.2025) — A U.S. judge upheld the validity of Venezuelan state oil company PDVSA‘s 2020 bonds […]

Event in focus: Caracas Gas Forum 2025

BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 4.Sep.2025, Words: 222) — The 4th edition of the CARACAS GAS FORUM 2025 is slated to […]

PDVSA says gasoline + diesel production averaged 156,200 b/d in May 2025

BOGOTA, COLOMBIA (Ana Sanches, Energy Analytics Institute, 28.Aug.2025, Words: 120) — Refineries owned by state-owned Petróleos de Venezuela (PDVSA), and more importantly, still operable, produced combined gasoline […]

Three PDVSA refineries producing enough gasoline and diesel to cover national demand

PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 24.Aug.2025, Words: 180) — Three refineries owned by state-owned Petróleos de Venezuela (PDVSA) remain in operation but continue […]

Private Chinese firm producing oil in Venezuela under rare 20-year pact, source says

SINGAPORE/HOUSTON (By Chen Aizhu and Marianna Parraga, Reuters, 22.Aug 2025, Words: 526) — China Concord Resources Corp has begun developing two Venezuelan oilfields, planning to invest more […]

Venezuela’s hydrocarbons minister Rodríguez continues to review the “special gas plan”

BOGOTA, COLOMBIA (By Ana Sanches, Energy Analytics Institute, 14.Aug.2025, Words: 215) — Venezuela’s executive vice president and hydrocarbons minister Delcy Rodríguez chaired a working group […]

Chevron-chartered tanker docks at Venezuela to load oil after new US license

HOUSTON, TEXAS (By Reuters, Marianna Parraga and Arathy Somasekhar, 12.Aug.2025, Words: 252) — A Chevron-chartered tanker docked at Venezuelan state company PDVSA‘s Jose terminal on […]

EAI brief: Venezuela boasts 1.4% uptick in monthly oil production [tables]

PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 12.Aug.2025, Words: 133) — Venezuela boasted an 1.4% increase in its monthly oil production, according to […]

Diosdado Cabello says Venezuela “lives off Venezuelans,” not Chevron

PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 4.Aug.2025, Words: 209) — The secretary general of the United Socialist Party of Venezuela (PSUV), Diosdado […]

Venezuelan oil production holding steady above the new 900,000 b/d floor [tables]

PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 15.Jul.2025, Words: 193) — Venezuela’s crude oil production is holding steady just above what is seemingly […]

PDVSA oil sales abroad hit $17.5bn in 2024 as exports jump

HOUSTON, TEXAS (By Reuters, 11.Jul.2025, Words: 84) — Venezuelan state-run PDVSA‘s oil sales abroad in 2024 stood at $17.52 billion, according to a results document […]

EAI short take-away: Trinidad not seen courting US for procurement of Venezuelan gas

PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 10.Jul.2025, Words: 270) — Trinidad and Tobago continues to face challenges to secure natural gas supply […]

OFAC issues general license no. 40D regarding offloading of LPG in Venezuela [download]

HOUSTON, TEXAS (By Isaac Silvestre, Energy Analytics Institute, 7.Jul.2025, Words: 270) — As part of the US’ Venezuela sanctions regulation, the US Office of Foreign […]

EAI brief: Venezuela’s Delcy Rodríguez mets with her Colombian counterpart Edwin Palma

PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 4.Jul.2025, Words: 138) — Venezuela’s executive vice president and hydrocarbon minister Delcy Rodríguez led a key […]

Venezuela’s oil exports on the rise as more cargoes head to China

(Reuters, 2.Jul.2025, Words: 350) — Venezuela exported some 844,000 barrels per day (bpd) of crude and fuel in June, an 8% increase from the previous […]

Vitol group submits bid above $10bn for Citgo, sources say

HOUSTON, TEXAS (By Marianna Parraga, Reuters, 2.Jul.2025, Words: 559) — A group led by commodities trading house Vitol submitted a bid exceeding $10 billion for the […]

Black Lion submits $8bn cash bid for Citgo’s parent

HOUSTON, TEXAS (By Marianna Parraga, Reuters, 25.Jun.2025, Words: 530) — Black Lion Citgo Group, a consortium led by private equity firm Black Lion Capital Advisors, submitted […]

OFAC on sanctions regulations related to PDVSA 8.5% bond [pdf download]

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 20.Jun.2025, Words: 75) — The US Office of Foreign Assets Control (OFAC) released new details authorizing certain […]

Q&A: Is Venezuela about to lose Citgo, its most prized foreign asset?

HOUSTON, TEXAS (By Marianna Parraga, Reuters, 16.Jun.2025, Words: 685) — A U.S. court-organized auction of shares in the parent company of Venezuela-owned Citgo Petroleum has […]

Venezuela’s ‘Black Gold’: the Petrocedeño (formerly Sincor) upgrader

PANAMA CITY, PANAMA / HOUSTON, TEXAS (Editors at Energy Analytics Institute, 12.Jun.2025, Words: 702) — The Sincor upgrader was built in an area of over […]

Venezuela’s ‘Black Gold’: production and export grades, upgraded API properties [table]

PANAMA CITY, PANAMA / HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 11.Jun.2025, Words: 560) — Venezuela, despite ongoing US sanctions meant to halt the […]

Venezuela’s ‘Black Gold’: opportunity loss of 2.1 MMb/d from 6 new proposed upgraders

PANAMA CITY, PANAMA / HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 9.Jun.2025, Words: 1,600) — Proposals for 6 new joint ventures (JVs) in Venezuela’s […]

Venezuela lays foundation to boost petrol to $0.75/lt from $0.50/lt, Bloomberg Línea says

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 8.Jun.2025, Words: 136) — The government of Venezuela’s president Nicolás Maduro is laying the foundations to implement […]

Venezuela’s ‘Black Gold’: 4 original upgraders Sincor, Petrozuata, Cerro Negro and Hamaca

PANAMA CITY, PANAMA / HOUSTON, TEXAS (Editors at Energy Analytics Institute, 8.Jun.2025, Words: 1,143) — Venezuela is blessed with numerous heavy-oil reservoirs, but none compares […]

Venezuela’s ‘Black Gold’: a brief history of heavy oil in Venezuela

PANAMA CITY, PANAMA / HOUSTON, TEXAS (Editors at Energy Analytics Institute, 6.Jun.2025, Words: 585) — In 1914, Venezuela’s first important heavy oil field, Mene Grande, […]

IOCs built 4 upgraders in Venezuela in the 1990s, only PetroPiar continues to produce

HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 4.Jun.2025, Words: 343) — In the 1990s, international oil companies (IOCs) from Chevron Corporation and ExxonMobil Corporation […]

Venezuela’s oil exports stable as buyers in China receive more

(Reuters, 3.Jun.2025, Words: 473) — Venezuela’s oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized […]

Maduro says Venezuela producing 1.1 MMb/d amid unilateral coercive measures

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 2.Jun.2025, Words: 211) — Venezuela’s president Nicolás Maduro said his country was on average producing close to […]

Maduro activates monitoring room to over see Venezuela’s hydrocarbon sector

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 30.May.2025, Words: 255) — Venezuela’s president Nicolás Maduro activated a new situational control and monitoring room within […]

LatAmNRG heard: Mexico elections, Chevron Venezuela, Vaca Muerta, Venezuela LNG

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 30.May.2025, Words: 339) — LatAm and other NRG highlights, headlines and “heard on the street,” for the week […]

Rodríguez says 3 Chevron Venezuela fields producing a combined 246,000 b/d

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 29.May.2025, Words: 228) — Venezuela’s executive vice president and hydrocarbon minister Delcy Rodríguez said state-owned company Petróleos […]

US grants Chevron narrow authorization to keep assets in Venezuela, sources say

(Reuters, 27.May.2025) — The Trump administration has issued a narrow authorization for U.S. oil producer Chevron to keep assets in Venezuela, including its stakes in oil […]

US plans Chevron license for minimum maintenance in Venezuela, Bloomberg reports

BENGALURU, INDIA (Reuters, 23.May.2025, Words: 215) — U.S. President Donald Trump’s administration is preparing to issue a narrowly tailored license to Chevron, allowing the company […]

US set to extend Chevron’s lifeline in Venezuela another 60 days amid negotiations

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 20.May.2025, Words: 209) — Chevron Corporation, which has operated in Venezuela for the greater part of 100 […]

Delcy Rodríguez says measures against PDVSA have generated $232bn in losses

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 18.May.2025, Words: 183) — Venezuela’s executive vice president and hydrocarbon minister Delcy Rodríguez said unilateral coercive measures […]

CRP takeover by the Chinese: this is not a “cuento chino” or “Chinese tale” [charts attached]

PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 17.May.2025, Words: 528) — This is not a “cuento chino” or “Chinese tale” starring Argentine actor […]

Venezuela’s production averaged 888 Mb/d in Apr. 2025, according to OPEC

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 14.May.2025, Words: 164) — Venezuela’s crude oil production averaged 888 thousand barrels per day (Mb/d) in Apr. […]

Traders rebrand Venezuelan oil for China as Brazilian, sources and tanker trackers say

SINGAPORE, SINGAPORE CITY (Chen Aizhu, Reuters, 12.May.2025, Words: 847) — Traders have rebranded more than $1 billion of Venezuelan oil shipments to China as Brazilian […]

LatAmNRG heard: Chinese takeover of Venezuelan refineries, Petrobras focus offshore Colombia

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 9.May.2025, Words: 460) — LatAm and other NRG highlights, headlines and “heard on the street,” for the week […]

Citgo Petroleum reports weak refining margins in the 1Q:25

HOUSTON, TEXAS (By Ofelia Paredes, Energy Analytics Institute, 8.May.2025, Words: 635) — Houston-based Citgo Petroleum Corporation — which owns and operates 3 large-scale, highly complex […]

Chevron CEO Mike Wirth says energy and national security at play in Venezuela

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 2.May.2025, Words: 452) — Chevron Corporation CEO Mike Wirth said there were 2 important real implications related […]

Venezuela loses 20% of oil exports after cargo cancellations to Chevron

CARACAS, VENEZUELA (Reuters, 1.May.2025, Words: 388) — Venezuela’s oil exports fell almost 20% to some 700,000 barrels per day (bpd) in April, the lowest level […]

EAI chartalk: Eni SpA in Mexico and Venezuela

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 17.Apr.2025, Words: 285) — Italy’s Eni SpA operates in 2 key countries in the Latin America and […]

LatAmNRG heard: Bukele to DC, Delcy on China and Russia, YPF dividend, lithium in Mexico

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 11.Apr.2025, Words: 450) — LatAm and other NRG highlights, headlines and “heard on the street,” for the week […]

Chevron’s Venezuelan oil cargoes canceled, stalled amid payment uncertainty

HOUSTON, TEXAS (Reuters, 11.Apr.2025) — At least two vessels carrying Venezuelan crude chartered by Chevron are stalled due to state oil company PDVSA canceling their export authorizations, […]

Venezuela’s Delcy Rodríguez presents economic emergency decree to National Assembly

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 10.Apr.2025) — Venezuela’s executive vice president and hydrocarbon minister Delcy Rodríguez presented a decree, signed by Venezuela’s […]

Venezuela’s energy minister Rodríguez says production normal

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 31.Mar.2025) — Venezuela’s crude oil production was normal at the end of Mar. 2025 and in accordance […]

Explainer: New Creditors’ Battle Emerges in Citgo Auction Reboot

HOUSTON, TEXAS (Reuters, 27.Mar.2025) — A U.S. federal judge trying to move ahead with an auction of shares in the parent of Venezuela-owned U.S. refiner […]

OFAC releases GL41B, extends Chevron’s wind down in Venezuela until 27 May 2025

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 24.Mar.2025, Words: 281) — The US Office of Foreign Assets Control (OFAC) issued General License No. 41B […]

LatAmNRG heard: service costs in Argentina, Trump eyes Citgo protection, Rubio to Jamaica

HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 21.Mar.2025, Words: 372) — LatAm and other NRG highlights, headlines and “heard on the street,” for the […]