(PDV Holding, 26.Jun.2023) — PDV Holding, Inc. successfully recovered a stock certificate representing 49.9% of the outstanding shares of stock in its subsidiary CITGO Holding Inc. from an arm of Russian-controlled oil company Rosneft on Wednesday, 21 June 2023. This event brings to a close years of effort to recover […]
Tag: Rosneft Trading SA
Venezuela Gasoline Shortages Worsen
(Reuters, 8.Apr.2020) — Gasoline shortages in Venezuela are worsening after U.S. officials have told foreign firms to refrain from supplying the fuel to the sanctioned South American nation and only provide diesel, according to five people familiar with the situation. Since late 2019, U.S. officials have asked most of Venezuela’s […]
Kremlin Fights US Sanctions, Backs Maduro
(Bloomberg, 30.Mar.2020) — The Kremlin’s sudden shift of ownership of multi-billion-dollar oil projects in Venezuela shields oil giant Rosneft PJSC from further U.S. sanctions but keeps Moscow firmly behind embattled President Nicolas Maduro amid a wider stand-off with Washington. “Russia is not walking away from Maduro and will seek to […]
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 of coronavirus and mitigating the economic fallout of an oil price collapse. In a bid to reinvigorate his movement, Juan […]
Venezuela’s Oil Exports Rose Ahead Of Wind-down Date
(Reuters, 2.Mar.2020) — Venezuela’s oil exports rose 9% in February from the previous month, as some buyers rushed to take cargoes ahead of the expiration of a wind-down period as part of new U.S. sanctions on PDVSA and its trade partners, data from the state-run firm and Refinitiv Eikon showed. […]
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 naval blockade, a senior administration official said. The U.S. has put several companies that continue to do business in Venezuela […]
Rosneft Sanctions Raise Threats For Cos In Venezuela
(Reuters, 19.Feb.2020) — Washington’s move this week to sanction a trading unit of Russian oil giant Rosneft for its ties with Venezuela’s state-run PDVSA escalated threats facing non-U.S. firms and will likely spur “overcompliance” by companies, analysts and industry sources said. The U.S. government on Tuesday blacklisted Rosneft Trading, SA, […]
Latest Rosneft Sanctions Raise Risks For Others
(Reuters, 19.Feb.2020) — Washington’s move this week to sanction a trading unit of Russian oil giant Rosneft for its ties with Venezuela’s state-run PDVSA escalated threats facing non-U.S. firms and will likely spur “overcompliance” by companies, analysts and industry sources said. The U.S. government on Tuesday blacklisted Rosneft Trading, SA, […]
Could Rosneft Sanctions Signal End To Chevron’s Venezuela Waiver?
(S&P Global Platts, 18.Feb.2020) — The Trump administration’s decision to sanction Rosneft’s trading arm Tuesday may be a sign that Chevron’s waiver allowing it to continue its work in Venezuela may soon expire, analysts said. The Rosneft sanctions may also bolster the case for the Chevron waiver to be extended […]
Rosneft Says US Sanctions On RTSA Illegal
(Rosneft, 18.Feb.2020) — The sanctions announced by the U.S. Treasury Department against Rosneft’s subsidiary RTSA and its Chairman are illegal, unjustified, and an act of legal abuse. Rosneft has been implementing its projects in Venezuela in strict compliance with rules of international and national laws. In the course of the […]
Venezuela, Rosneft and US Sanctions Complications
(S&P Global Platts, 18.Feb.2020) — US efforts to starve Venezuela’s Maduro regime of oil revenues have substantially increased the role of Russian energy in the US Gulf Coast, an outcome the Trump administration likely never anticipated when it put sanctions in place over a year ago. The situation has created […]