(Citgo, 29.Aug.2018) — Through the CITGO Caring for Our Coast initiative, a program designed to boost ecological conservation, restoration and education, The Conservation Foundation (TCF) has been awarded a grant...
(Trinidad and Tobago Newsday, Sean Douglas, 28.Aug.2018) — Four questions have been posed by Congress of the People leader and former energy minister Carolyn Seepersad-Bachan over the Dragon gas deal...
(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...
(Trinidad Guardian, 27.Aug.2018) — Government is giving no details on the pricing structure this country will pay for gas from the Dragon Field under the agreement signed with Venezuela on...
(Loop News, 26.Aug.2018) — On August 25, 2018, an historic agreement was made between Prime Minister Dr Keith Rowley and Venezuelan President Nicolás Maduro for access the Venezuela's Dragon Field....
(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...
(Bloomberg, Ryan Collins and Kelly Gilblom, 25.Aug.2018) — Trinidad and Tobago will continue to ship super-chilled natural gas all over the world, with a little help from Venezuela. President Nicolas...
(Energy Analytics Institute, Piero Stewart, 25.Aug.2018) — Venezuela will send its Dragón field natural gas to Trinidad for processing. That’s according to a deal signed today in Caracas between the...
(CMC, 24.Aug.2018) — Prime Minister Dr Keith Rowley will lead a delegation to Venezuela tomorrow to sign an agreement for the development of the across border gas from the Venezuelan...
(Oilprice.com, Irina Slav, 23.Aug.2018) — Rosneft has asked a U.S. federal court to establish “a robust appraisal and sale process” of Citgo shares following Canadian miner Crystallex’ win at court...
(AP, 22.Aug.2018) — A former Swiss bank executive has pleaded guilty to his role in a $1.2 billion money-laundering scheme involving Venezuela's state-run oil and natural gas company. Federal court...
[caption id="attachment_3316" align="alignright" width="800"] Venezuelan oil workers march thru the streets of Caracas. Source: PDVSA[/caption] (Energy Analytics Institute, Ian Silverman, 21.Aug.2018) — Oil workers at state oil company PDVSA marched...
(Reuters, 21.Aug.2018) — Venezuela's PDVSA and NuStar Energy LP have reached an agreement over outstanding storage fees, allowing the state-run company to resume use of a key storage terminal in...
(Bloomberg, Andrew Rosati & Fabiola Zerpa, 21.Aug.2018) — Beaten-down Venezuela on Tuesday began confronting a 95 percent currency devaluation and a regimen of economic controls that, after years of hunger...
(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...
(The New York Times, Clifford Krauss, 20.Aug.2018) – More than a decade ago, Venezuela seized several oil projects from the American oil company ConocoPhillips without compensation. Now, under pressure after...
(Energy Analytics Institute, Jared Yamin, 19.Aug.2018) – Former PDVSA President Rafael Ramírez says Venezuela produced 3 million barrels per day until December 2013. That figure has dropped by 1.8 million,...
[caption id="attachment_3025" align="aligncenter" width="2048"] House located in the eastern coastal region of Lake Maracaibo in Venezuela. Source photo: Energy Analytics Institute[/caption] (EnergyNomics, Carlos A Rossi, 18.Aug.2018) – Are natural resource...
(Energy Analytics Institute, Ian Silverman, 17.Aug.2018) – A former PDVSA director has been detained and accused of money laundering. Luis Abraham Bastidas Ramírez, the cousin of former PDVSA President Rafael...
(Energy Analytics Institute, Piero Stewart, 17.Aug.2018) – Venezuelan opposition leader Maria Corina Machado tours the Jusepin petroleum region in Venezuela. https://twitter.com/i/status/1030477377988710401 Jusepin is just one of many petroleum-rich areas in...
(Express, Simon Osborne, 16.Aug.2018) – Venezuela’s oil assets are being targeted by angry creditors after a US court granted a Canadian mining company permission to send in the bailiffs. Firms...
(Reuters, Luc Cohen, 15.Aug.2018) – As Venezuela’s state-owned oil company PDVSA saw its finances devastated by low oil prices and mismanagement, it funneled millions of dollars to Petrolera del Conosur...
(Reuters, Deisy Buitrago and Brian Ellsworth, 14.Aug.2018) – Venezuela’s heavily subsidised domestic gasoline prices should rise to international levels to avoid billions of dollars in annual losses due to fuel...
(Energy Analytics Institute, Piero Stewart, 14.Aug.2018) – Venezuela’s crude oil production declines seem unstoppable. [caption id="attachment_2947" align="alignnone" width="679"] OPEC's August 2018 MOMR.[/caption] Venezuela’s crude oil production fell to 1.278 million...
[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...
(OilPrice.com, Nick Cunningham, 12.Aug.2018) – The bad news from Venezuela continues. In July, Venezuela’s oil production came in lower than PDVSA had targeted, according to Argus Media. While PDVSA had...
(Energy Analytics Institute, Aaron Simonsky, 11.Aug2018) – Houston-based Citgo Petroleum Corporation is the refining arm of Venezuela’s Petróleos de Venezuela, S.A. (PDVSA). What follows is a brief company profile. Citgo,...
(Energy Analytics Institute, Jared Yamin, 11.Aug.2018) – Crystallex seems to have cut in line while there are many others already in line for CITGO assets and value. What follows are...
(OilPrice.com, Irina Slav, 10.Aug.2018) – Canadian gold miner Crystallex was ruled the winner in a long-running case against Venezuela, which it has sued for the forced nationalization of its assets...
(Energy Analytics Institute, Piero Stewart, 10.Aug.2018) – PDVSA President Manuel Quevedo assured that Venezuelan crude oil production had stabilized. Quevedo, who also serves as Venezuela’s Petroleum Minister, said last week...
(Neftegaz.RU, 10.Aug.2018) – According to Platts, Venezuela’s state oil and gas company PDVSA cut its debt to Russia’s top crude producer Rosneft by $400 million in the 2nd quarter to...
(UPI, Daniel J. Graeber, 10.Aug.2018) – Though it holds the largest reserves of oil in the world, production levels put it only in the middle of the pack among OPEC...
(AFP, 10.Aug.2018) – Venezuela's state oil company PDVSA on Friday appealed a US court ruling that would allow a Canadian mining company to seize shares of PDVSA's US-subsidiary Citgo in...
(Reuters, 10.Aug.2018) – Venezuela’s crude exports to the United States declined to 494,400 barrels per day (bpd) in July after rising the prior three months, showing the impact of asset...
(Reuters, Brian Ellsworth, 10.Aug.2018) – Crystallex’s victory in a legal battle with Venezuela that paves the way for it to collect a $1.4 billion award hinged on a finding that...
(The Wall Street Journal, Andrew Scurria and Julie Wernau, 9.Aug.2018) – A U.S. federal judge authorized the seizure of Citgo Petroleum Corp. to satisfy a Venezuelan government debt, a ruling...
(Associated Press, 9.Aug.2018) – A Canadian gold mining company on Thursday won the right to go after Venezuela's prized U.S.-based oil refineries and collect $1.4 billion it lost in a...
(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...
[caption id="attachment_3321" align="alignright" width="300"] Venezuela's Manuel Quevedo and Saudi Arabia's Ambassador to Venezuela Saad Bin Abdullah al Saad in Caracas. Source: PDVSA[/caption] (Energy Analytics Institute, Ian Silverman, 8.Aug.2018) — Officials...
(Energy Analytics Institute, Piero Stewart, 8.Aug2018) – U.S. drilling company Helmerich & Payne won a judgment from the U.S. Court of Appeal to sue Venezuela for the expropriation of the...
(Energy Analytics Institute, Ian Silverman, 8.Aug.2018) – Chief Judge Stark of the US Federal District Court in Delaware immediately agreed with our arguments calling out the abuse of sealing by...
(Reuters, Marianna Parraga, Mircely Guanipa, 7.Aug.2018) – Reuters) - Venezuela’s state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers...
(FoxBusinss, Leia Klingel, 7.Aug.2018) – Oil production by Venezuela’s PDVSA may have started to improve, with the state-owned oil and gas producer reporting that production in the country is averaging...
(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...
(S&P Global Platts, Brian Shield, 7.Aug.2018) – Just more than a year ago, it was not a question of ‘if’, but ‘when.’ As Venezuela’s leftist leader Nicolas Maduro consolidated power...
(Energy Analytics Institute, Piero Stewart, 7.Aug2018) – Aside from wasting paper, more importantly, the recent Gaceta Oficial in Venezuela also has a decree from President Nicolas Maduro waiving all taxes...
[caption id="attachment_2784" align="alignnone" width="700"] Refinery in Venezuela. Source: DW[/caption] (DW.com, Andreas Knobloch, 6.Aug.2018) – A money-laundering scandal involving Venezuela's state oil company PDVSA could turn into a problem for a...
(AFP, Esteban Rojas, 5.Aug.2018) – In Venezuela's inflation-hit economy, a single US dollar can buy 3.5 million liters of gasoline -- an absurdity that the government says it will tackle...
[caption id="attachment_2909" align="alignnone" width="2700"] The Plasman family with MDA and Jim Cristman, CITGO Vice President of Refining, thank Diamond Sponsor Midwest Tankermen for their dedication to the golf outing and...
(UPI, Daniel J. Graeber, 31.Jul.2018) – An annual review of energy trends from Italian energy company Eni found the United States is a "game changer," though its Venezuela with the...
(Reuters, Mayela Armas, 31.Jul.2018) – Across Maracaibo, the capital of Venezuela’s largest state, residents unplug refrigerators to guard against power surges. Many only buy food they will consume the same...
https://www.insightcrime.org/news/analysis/us-charges-point-to-rampant-corruption-at-venezuela-state-oil-company/ (InSight Crime, 30.Jul.2018) – US authorities are charging a network of Venezuelan elites and international financial actors with laundering over a billion dollars stolen from the state-owned oil company,...
[caption id="attachment_2762" align="alignnone" width="1484"] Oil pumpjacks are seen in Venezuela in May. (Isaac Urrutia/Reuters)[/caption] (Washington Post, Megan McArdle, 27.Jul.2018) – According to the International Monetary Fund, by the end of...
(Energy Analytics Institute, Piero Stewart, 27.Jul.2018) – The price of gasoline in Venezuela is likely to increase. For some services such as gasoline, there will be a relative increase in...
(Energy Analytics Institute, Piero Stewart, 27.Jul.2018) – The continued decline in Venezuela’s oil production acts to squeeze the government of President Nicolas Maduro, says an Ecoanalitica executive. “The fall in...
(Energy Analytics Institute, Piero Stewart, 25.Jul.2018) – PDVSA has been converted into ‘junk or scraps’ by the administration of the current Venezuelan president. That’s according to statements from Venezuelan opposition...
(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...
(Energy Analytics Institute, Piero Stewart, 23.Jul.2018) – Representatives from trade unions from the oil, electricity, food, education and health sectors announced plans to join a national strike called by opposition...
[caption id="attachment_2588" align="alignleft" width="300"] Iván Freites (center) speaks during press conference in Venezuela. Source: El Nacional[/caption] (Energy Analytics Institute, Piero Stewart, 23.Jul.2018) – The four workers are being held in...
(Energy Analytics Institute, Piero Stewart, 23.Jul.2018) – Venezuela’s thermal generation plants in Caracas are only operating at 25% to 30% of capacity, and units 7, 8 and 9 of the...
(AP, 20.Jul.2018) – A former official at a state-run electric company in Caracas, Venezuela, pleaded guilty on Monday to money laundering conspiracy relating to an alleged multibillion-dollar graft scheme in...
(AFP, 18.Jul.2018) – Venezuela is in a state of “economic collapse” with hyperinflation not seen since the middle of the last century, the International Monetary Fund said Monday. Despite higher...
[caption id="attachment_2496" align="alignnone" width="1000"] Asdrubal Chavez Source: Bloomberg[/caption] (Bloomberg, Lucia Kassai and Fabiola Zerpa, 18.Jul.2018) – Being a blood relative of Hugo Chavez used to open doors. Now Asdrubal Chavez,...
(OilPrice.com, Tsvetana Paraskova, 17.Jul.2018) – Venezuela’s Oil Minister Manuel Quevedo has discussed plans with state-held oil company PDVSA to raise the country’s crude oil production in the second half of...
(OilPrice.com, Haley Zaremba, 17.Jul.2018) – In the past, oil has accounted for 96 percent of Venezuela's exports and over 40 percent of government revenues. Now, as the nation’s economy continues...
(Foreign Policy, 16.Jul.2018) — The tragic — and totally avoidable — self-destruction of one of the world’s richest oil economies. In the spring of 1959, at a secretive meeting at...
(AP, 16.Jul.2018) – A former official at a state-run electric company in Caracas, Venezuela, pleaded guilty to money laundering conspiracy relating to an alleged multibillion-dollar graft scheme in the Venezuelan...
(Energy Analytics Institute, Piero Stewart, 14.Jul.2018) – Venezuela’s President Nicolás Maduro introduced ‘el petro’ during a presentation in Turkey. Maduro reiterated that the Petro crypto-currency is based or backed by...
(Energy Analytics Institute, Piero Stewart, 14.Jul.2018) – Venezuela’s President Nicolás Maduro announced the two countries could soon sign a new oil agreement. “A new agreement thereon shall be signed pretty...
(Energy Analytics Institute, Piero Stewart, 13.Jul.2018) – Opposition leader María Corina Machado said the “show can’t go on” during a video broadcast from Punto Fijo. The leader’s video in reaction...
(OilPrice.com, Nick Cunningham, 12.Jul.2018) – Venezuela’s oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut...
[caption id="attachment_2381" align="alignright" width="215"] Workers repairing a section of the natural gas pipeline. Source: PDVSA[/caption] (Energy Analytics Institute, Piero Stewart, 11.Jul.2018) – PDVSA Gas announced completion of work on the...
(Maritime Herald, 9.Jul.2018) – The oil spill that occurred this Friday, July 6 in two tanks of the secondary recovery plant of the Jusepín Operational Complex of Pdvsa, demonstrates the...
(Energy Analytics Institute, Piero Stewart, 8.Jul.2018) – Venezuela’s Oil Minister General Manuel Quevedo prayed to God in search of divine assistance to boost Venezuela’s oil production. The prayer was made...
(Sputnik News, 5.Jul.2018) – China is lending its helping hand to Venezuela to stabilize the country's oil sector, analysts told Sputnik, adding that Beijing's economic activities in Latin America are...