(Energy Analytics Institute, Piero Stewart, 10.Nov.2018) — An explosion that occurred along a segment of the Northeast Gas Pipeline José Francisco Bermúdez, and which caused […]
Tag: PDVSA
Chevron Stayed In Venezuela Long After Rivals Quit
(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 […]
Rosneft Says Venezuela’s Bill Falls To $3.1 Billion
(Reuters, 6.Nov.2018) — Rosneft was owed $3.1 billion by Venezuela as of September 30, down from $3.6 billion on June 30, Russia’s largest oil producer […]
Ex-Venezuela Oil Official Pleads Guilty In Graft Probe
(AP, 2.Nov.2018) The former finance chief of Venezuela’s state oil company pleaded guilty on Wednesday to participating in an alleged US$1.2-billion embezzlement scheme, a major […]
Gazprombank Says No Role In Venezuela Graft Case
(Reuters, Alexandra Ulmer, 2.Nov.2018) — Russian bank Gazprombank on Friday said it had no role in a Venezuelan corruption case at state energy company PDVSA. […]
Exclusive: Perenco, Gazprombank Named In Venezuela Graft Case – Source
(Reuters, Alexandra Ulmer, 1.Nov.2018) — Anglo-French oil company Perenco and Russian financial firm Gazprombank have been identified in testimony by a former Venezuelan state oil […]
PDVSA’s Citgo Contributes To 8th Annual Houston Energy Day Festival
(Citgo Petroleum, 1.Nov.2018) — CITGO Petroleum Corporation recently participated in Houston’s largest free family festival, Energy Day. The event brought together families, students, energy professionals […]
Ex-Venezuelan Oil Exec Admits Bribes In $1.2 Bln Money-Laundering Scheme
(El Nuevo Herald, Jay Weaver And Antonio Maria Delgado, 31.Oct.2018) — A former top official of Venezuela’s state-owned oil company pleaded guilty Wednesday in Miami […]
PDVSA Bewilders Bond Analysts By Making $949mn Payment
(Bloomberg, Davide Scigliuzzo, 31.Oct.2018) — Venezuela just forked over almost $1 billion to stay current on a bond backed by shares of its U.S. refiner […]
PDVSA Ships $35 Million Oil Cargo To Pay Dividends To ONGC – Sources
(Reuters, Alexandra Ulmer, Nidhi Verma, 31.Oct.2018) — Venezuela’s state-run PDVSA has shipped a crude cargo valued at $35 million as partial payment to Indian oil […]
Texas Man Pleads Guilty In Ongoing Venezuela Bribery Probe
(The Wall Street Journal, Samuel Rubenfeld, 30.Oct.2018) — U.S. prosecutors said they secured another guilty plea in their ongoing corruption probe of Venezuela’s state-run oil […]
Venezuela Poses Clear Threat – Comments Could Refuel Trump Military Action Talks
(Express, Ciaran McGrath, 30.Oct.2018) — Venezuela represents a “clear threat to regional stability” and a “direct challenge” to the United States, a senior US Government […]
Investors Begin Receiving Payment PDVSA 2020 Bond: Sources
(Reuters) — Investors have started to receive payment of interest and principal on Venezuelan state oil company PDVSA’s 2020 bond, two bondholders said on Tuesday. […]
Lawmaker Says Voluntad Popular To Present ‘Energy Venezuela’ Proposal
(Energy Analytics Institute, Piero Stewart, 29.Oct. 2018) — Opposition party Voluntad Popular will present a proposal called “Energy Venezuela,” which will outline guidelines established for […]
Venezuela’s Hydrocarbon Sector Incurring Weekly Accidents
(Energy Analytics Institute, Piero Stewart, 28.Oct.2018) — Petroleum sector accidents and oil spills in Venezuela have become an almost regular occurrence. Between two and three […]
Venezuela: Oil Producer’s Slump Reflects Nation’s Decline
(Ft.com, Gideon Long, John Paul Rathbone, 28.Oct.2018) — Gideon Long in Caracas and John Paul Rathbone in Washington October 28, 2018 Print this page 95 […]
Venezuela, Mexico Divert Crude To U.S. As Canadian Barrels Get Stuck
(Reuters, Marianna Parraga, Collin Eaton, 26.Oct.2018) — Cash-strapped state-run oil companies in Mexico and Venezuela have begun diverting crude historically processed for domestic use and […]
PDVSA Distillation Units At Cardón Refinery Halted
(Energy Analytics Institute, Piero Stewart, 25.Oct.2018) — Four distillations units at PDVSA’s Cardón refinery, located in Falcón state, are said halted due to a lack […]
Bondholders Raise Hopes Venezuela Will Pay Up On Due Debt
(Ft.com, Gideon Long, 25.Oct.2018) — In a month in which emerging market government bonds have been hammered by the prospect of US rate increases, geopolitical […]
Conoco Is Collecting $2 Billion From Venezuela—One Barrel of Oil at a Time
(Bloomberg, Alex Nussbaum, 25.Oct.2018) — ConocoPhillips’ decade-old legal war with Venezuela began paying off this week as the embattled Latin American country started making good […]
CITGO Expands Innovation Academy Presence In Texas
(CITGO, 25.Oct.2018) — CITGO Petroleum Company announced the West Oso Independent School District has approved the launch of a CITGO Innovation Academy in Corpus Christi, […]
PDVSA Prepares To Make $949 Mln Payment On Citgo-Backed Bond
(Bloomberg, 24.Oct.2018) — Petroleos de Venezuela SA’s plan to make a $949 million bond payment would mark a rare exception for Nicolas Maduro’s regime as […]
Justice Department Demands Details From Glencore On Intermediary Firms
(Reuters, Dmitry Zhdannikov, Julia Payne, 23.Oct.2018) — The U.S. Department of Justice is seeking documents from Glencore (GLEN.L) about intermediary companies that the commodities firm […]
Foreign Oil And Gas Firms Look To Play Crucial Role In Venezuela
(Energy Global, David Bizley, 19.Oct.2018) — The majority of foreign companies are not making any profit or losing money in their partnerships with PDVSA to […]
Trump Talks Tough On Venezuela, But Imports Ever More Venezuelan Oil
(Miami Herald, Andres Oppenheimer, 17.Oct.2018) — There is a major inconsistency in President Trump’s stand on Venezuela: He talks tough — and even makes veiled […]
U.S. Eyes More Venezuelan Sanctions, But Oil On Backburner: U.S. Official
(Reuters, Roberta Rampton, 17.Oct.2018) — The United States plans to turn up sanctions pressure on Venezuela but sees less need to immediately target its energy […]
PDVSA, Pequiven Retirees Protest Lack Of Pension Payments
(Energy Analytics Institute, Piero Stewart, 17.Oct.2018) — Retired workers with PDVSA and Pequiven spoke out in the streets in a protest aimed at calling attention […]
PDVSA Preparing $950mn Payment On 2020 Bond
(Reuters, 15.Oct.2018) — Venezuela’s state-owned oil company PDVSA is preparing to pay holders of its 2020 bond some $950 million this month, after failing to […]
Venezuela Solicits Audit of Pacific Coast Refinery, Río Napo
(Energy Analytics Institute, Piero Stewart, 13.Oct.2018) — Venezuela has solicited an audit of costs related to the Pacific Coast Refinery and Río Napo JV in […]
Shell Seeks To Sell Venezuela JV Stake
(Reuters, 12.Oct.2018) — Royal Dutch Shell Plc is negotiating the sale of its stake in a Venezuelan oil joint venture to Paris-based Maurel & Prom […]
Maurel & Prom Confirms Discussions With Shell Over Urdaneta West Field In Venezuela
(Maurel & Prom, 12.Oct.2018) — Etablissements Maurel & Prom notes recent press articles and confirms it is working on the acquisition of Shell Exploration and […]
Venezuela Sets New Wages For Oil Workers As Protests Simmer
(Reuters, Alexandra Ulmer, 10.Oct.2018) — Venezuela on Wednesday increased wages for workers at state energy company PDVSA after employees staged small protests to decry meager […]
Citgo, Valero Drive Up U.S. Purchases of Venezuelan Oil in September
(Reuters, Marianna Parraga, 4.Oct.2018) — Venezuela’s September crude sales to the United States rose to their highest in over a year, boosted by purchases by […]
Venezuela’s Oil Exports Are Falling Even Faster Than Expected
(OilPrice.com, Irina Slav, 3.Oct.2018) — A delay in port repairs following a tanker collision is putting additional pressure on already pressured Venezuelan crude oil exports, […]
Venezuelan Oil Port Repairs Delayed, Crude Exports Fall: Sources
(Reuters, Marianna Parraga, 2.Oct.2018) — Repairs to a dock at Venezuela’s main oil export port will take at least another month to complete following a […]
Oil Workers Protest Pay in Venezuela
(Bloomberg, 1.Oct.2018) — Venezuelan oil workers protested against a new minimum wage at key crude processing facilities last week, claiming the new law disregards previous […]
India Eyes Rupee-Route, Barter for Venezuelan Crude
(The Hindu Business Line, Vishwanath Kulkarni, Richa Mishra, 30.Sep.2018) — India is considering setting up a rupee-payment mechanism for trade with Venezuela, besides exporting rice […]
Venezuela to Continue in Defense of Oil Market Equilibrium
(Energy Analytics Institute, Piero Stewart, 29.Sep.2018) — Venezuela’s Oil Minister Manuel Quevedo announced the South American country would continue to seek equilibrium in the petroleum […]
Uruguay Judge Orders ANCAP to Pay $5.6 Mln to Exor Internacional Ltda.
(Energy Analytics Institute, Ian Silverman, 28.Sep.2018) — Uruguayan Judge Carlos Aguirre ordered ANCAP to pay a fine of $5.6 million plus interest to Exor Internacional […]
Oil Spill Reported at Venezuela’s Anzoátegui Petrochemical Complex
(Energy Analytics Institute, Piero Stewart, 27.Sep.2018) — Venezuela’s José Antonio Anzoátegui Petrochemical Complex was the site of a crude oil spill that affected the beaches […]
Venezuela Faces Fresh Blow With Ship-Fuel Rules Threatening Exports
(Bloomberg, 27.Sep.2018) — New rules forcing ships to use cleaner marine fuels may deal yet another blow to cash-strapped Petroleos de Venezuela SA, an exporter […]
PetroMonagas, PetroVictoria Rumored to Have Changed President
(Energy Analytics Institute, Ian Silverman, 26.Sep.2018) — The president of the two Venezuelan joint venture companies is rumored to have been changed, according to reports […]
Venezuela’s Retrogressing Economy — Exhibit 1, PDVSA
(Steve Hanke, Contributor to Forbes, 19.Sep.2018) — Two hallmarks characterize capitalist economies. Firstly, property is predominately in private hands. Consequently, goods and services are allocated […]
New Corruption Scheme Revealed at PDVSA
(Prensa Latina, 19.Sep.2018) — The Public Prosecutor”s Office (MP) has revealed today a new corruption scheme in the state-run Petroleos de Venezuela (PDVSA), which has […]
Nicolas Maduro Says Venezuela to Double Oil Production
(Energy Analytics Institute, Piero Stewart, 18.Sep.2018) — Venezuela, the struggling OPEC producer, is now planning to double its production of crude oil, according to statements […]
Venezuela’s Maduro Says Relationship With China ‘Win-Win’
(Energy Analytics Institute, Piero Stewart, 18.Sep.2018) — In terms of bilateral cooperation, Venezuela and China are seeking a ‘win-win’ scenarios. “Relations with China are very […]
U.S. Company Manager Pleads Guilty in PDVSA Bribery Scheme
(Reuters, 13.Sep.2018) — A former manager of a U.S.-based logistics company pleaded guilty on Thursday to paying bribes to secure contracts from Venezuela’s state oil […]
Venezuela’s Aug. 2018 Oil Output Continues Decline: OPEC MOMR
(Energy Analytics Institute, Jared Yamin, 12.Sep.2018) — Venezuela’s oil production seems on an unstoppable downward trend. The OPEC country’s production of crude oil fell 2.9 […]
Jamaica’s Economy Gets $5 Bln From PetroCaribe Over 13 Years
(CMC, 12.Sep.2018) — Jamaica says it has benefitted from projects estimated at US$5 billion under the Venezuela-led PetroCaribe initiative over the past 13 years. CEO […]
PDVSA To Reopen Damaged Port Dock By Month’s End
(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 […]