HOUSTON, TEXAS (By Pietro D. Pitts, Energy Analytics Institute, 12.May.2026, Words: 2087) — As Caracas courts Caribbean partners again — signaled most recently by a new deal with Barbados — Venezuela’s interim leader Delcy RodrĂguez appears to be testing the waters for a PetroCaribe reboot. But any “PetroCaribe 2.0” will operate […]
Tag: PetroCaribe
Maduro urges resumption of Petrocaribe energy projects
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 14.Dec.2025, Words: 256) — Venezuela’s president Nicolás Maduro Moros called on the presidents of the Bolivarian Alliance for the Peoples of Our America – Peoples’ Trade Treaty (ALBA-TCP) to resume Petrocaribe energy projects initiated under late Venezuelan leader Hugo Chávez FrĂas. RELATED: […]
Caribbean Seeks Venezuela’s Oil and Gas as U.S. Relaxes Sanctions
(WSJ, 3.Feb.2023) — Caribbean countries battered by high energy costs are turning to Venezuela for oil and gas as the U.S. eases sanctions that have kept its supplies off limits for years. Trinidad and Tobago received a U.S. Treasury Department license in January to develop a Venezuelan gas field. A prospective refinery operator […]
UWI Economist Urges CARICOM to Look Within for Oil Supplies
(The Gleaner, 20.Mar.2022) — A day after Russia invaded Ukraine, sending oil prices skyrocketing to heights not seen since 2014, McCarthy Marie, a former University of the West Indies economist, wondered aloud whether the United States would consider invading Venezuela, which has some of the largest oil reserves in the […]
Fallout From Sweet Oil Deal For Venezuela’s Neighbors
(NPR, 20.Jul.2019) — It sounded like such a good idea at the time. The year was 2005. Global oil prices were climbing dramatically. Countries in the Caribbean were facing major fuel shortages. Venezuela, one of the world’s largest producers of crude, offered to ease the staggering fuel costs faced by […]
Ad Hoc PDVSA Board Suggest Jamaica Suspending Petrojam Takeover
(Energy Analytics Institute, Piero Stewart, 16.Jun.2019) — The ad hoc administrative board of PetrĂłleos de Venezuela (PDVSA) appointed by interim Venezuelan president Juan GuaidĂł requested that the government of Jamaica suspend the “illegal expropriation” of the shares of PDVSA Caribe in Petrojam, approved by the Jamaican parliament in February 2019, […]
Haitians Decry Squandered Venezuelan Oil Funds
(Argus, 11.Jun.2019) — Deadly street protests have erupted in Haiti following the publication of a court report alleging that recent governments mishandled about $2bn in oil-related credit from Venezuela. Seven people have been killed and many injured since 9 June as security forces attacked protesters, according to opposition groups that […]
Without Venezuela’s Oil, Haiti Struggles To Keep Lights On
(AP, Ralph Thomassaint Joseph, 17.May.2019) — When her daughter was 4 years old, Jennifer Jean started a small catering business in Bourdon, a lower middle-class district of the Haitian capital. Starting with the occasional wedding or corporate meeting, she grew the business into a venture that earned her as much […]
Fuel-Starved Haiti In Crisis As Venezuela Deal Dies
(Oilprice.com, Tsvetana Paraskova, 15.Apr.2019) — The poorest nation in the Western hemisphere has seen its fuel supply increasingly challenged since a program designed by Venezuela to supply fuel and gain influence in the Caribbean collapsed last year amid the raging Venezuelan crisis. Haiti had received almost 70 percent of […]
Wigton Windfarm To List On Jamaica Stock Exchange
(JIS, 3.Dec.2018) — The Wigton Windfarm (WWF) initial public offering (IPO) on the Jamaica Stock Exchange (JSE) is expected for March 2019. General Manager of Public-Private Partnerships and Privatisation Services at the Development Bank of Jamaica (DBJ) Denise Arana noted that the process is progressing smoothly and IPO activities will […]
In Guyana, Exxon Oil Project Stirs International Tensions
(Houston Chronicle, James Osborne, 2.Nov.2018) — Almost 4,000 feet beneath the surface of the Atlantic Ocean, off the northern coastline of South America, Exxon Mobil is drilling one of the biggest oil discoveries of the last decade, the so-called Stabroek Block with an estimated 4 billion barrels of crude. It […]
President Moise Wants Full Transparency in PetroCaribe Probe
(CMC, 19.Sep.2018) — President Jovenel Moise has called on newly installed Prime Minister Jean-Henry CĂ©ant to ensure that there’s total transparency in the investigation regarding the use of funds under the PetroCaribe initiative. “As I explained in my message of Prime Minister Jean Henry- CĂ©ant (and) to the nation, and […]
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 of the Petro-Caribe Development Fund Dr Wesley Hughes said the contributions of the fund to Jamaica have been “meaningful and significant”. Speaking earlier this week […]
PDVSA Leaves Argentine Gas Station to Fend for Itself
(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 (PSUR.BA), a loss-making Argentine gas station operator it controls. PDVSA decided to cut off the support payments late last year, […]
PetroCaribe fund to flow into government coffers
(Jamaica Gleaner, 11.Jul.2018) – In a matter of months, the US$1.6 billion, or more than J$208 billion, now in the PetroCaribe Development Fund (PDF) is to flow to the Consolidated Fund and could be administered as the Minister of Finance sees fit. The transition is expected to happen by the […]
Jamaica, Venezuelan Officials Discuss Bilateral Issues
(Energy Analytics Institute, Piero Stewart, 22.Mar.2018) – Jamaica’s Foreign Minister Kamina Johnson-Smith and her Venezuelan counterpart Jorge Arreaza held a high-level bilateral meeting in Caracas regarding ways to strengthen energy cooperation through the Petrocaribe Energy Cooperation Agreement, reported PDVSA in an official statement. Both officials also reaffirmed their country’s willingness […]
PetroCaribe Evaluates Creation of JV Company to Distribute Gas
(Energy Analytics Institute, Piero Stewart, 27.May.2016) — PetroCaribe member countries evaluated the creation of a joint-venture company that would distribute Venezuelan gas to them, reported Venezuela’s news agency AVN, citing PDVSA President Eulogio Del Pino. “The proposal – after looking at the quantity of reserves that we have in the […]
Guyana To Assure No Fuel Shortages
(Guyana Government Information Agency, 4.Sep.2015) – The government of Guyana believes that its responsibility and obligation are to ensure that there will be no shortage of fuel in Guyana, and so must do everything possible to keep the wheels of industry turning. This is according to Minister of State, Joseph […]
PetroCaribe Important Instrument for Venezuela
(Energy Analytics Institute, Piero Stewart, 20.Mar.2015) – Petrocaribe is an important instrument that has allowed our Caribbean brothers to overcome their problems, reported Venezuelan state news agency AVN, citing Venezuela’s Oil Minister AsdrĂşbal Chávez. “Its a true integration initiative for the people that is not aimed at exploiting them, but […]
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. […]
Maduro Says Caribbean Must be Together
(Energy Analytics Institute, Piero Stewart, 6.Mar.2015) – Venezuela’s President Nicolas Maduro says the Caribbean region has to always be together. “Petrocaribe is our road of respect, solidarity, brotherhood, the union to march together. The Caribbean has to always be together,” said Maduro during a broadcast on Venezuelan state television. ***
Honduras Awaits Initial PetroCaribe Shipments
(Energy Analytics Institute, Ian Silverman, 13.Sep.2013) – Honduras does not expect to receive its first shipment of oil from Venezuela under PetroCaribe until Dec.2013, reported El Universal, citing Honduras’ Vice Minister of Commerce Melvin Redondo. Venezuela will not be ready to ship the oil as originally planned due to the […]
11th Meeting of PetroCaribe Ministers
(Energy Analytics Institute, Ian Silverman, 8.Sep.2013) – Venezuela’s Energy Minister Rafael Ramirez participated in the 11th meeting of the Council of Petrocaribe Ministers in Port-au-Prince, Haiti according to an official statement from PDVSA. Petrocaribe is an innovative geopolitical initiative based on integration and regional unity, and provides energy to nearly […]
Q&A with Tissot Associate’s Roger Tissot on Venezuela, Ecuador and PetroCaribe
CARACAS, VENEZUELA (By Energy Analytics Institute, Pietro D. Pitts, 19.Jul.2013) – Tissot Associates Consultant Roger Tissot spoke with Energy Analytics Institute in a brief interview from Canada. What follows are excerpts from the brief interview.
Q&A with Brookshire’s Gianna Bern
(Energy Analytics Institute, Pietro D. Pitts, 19.Jul.2013) – Brookshire Advisory and Research President Gianna Bern spoke with Energy Analytics Institute in a brief interview from Chicago, IL. What follows are excerpts from the brief interview. EAI: Do you think PDVSA will move to increase rates on Petrocaribe member countries that […]