(Reuters, Marianna Parraga, Mircely Guanipa, 3.Sep.2019) — Venezuela’s oil exports fell in August to their lowest level in 2019, internal reports and Refinitiv Eikon data showed, hurt by a halt...
(Argus, 20.Aug.2019) — The Chinese government is so far showing no sign of curtailing its oil ties to Venezuela, despite state-owned PetroChina's rescheduling of Merey crude loadings in August. Argus...
(S&P Global Platts, 15.Aug.2019) — The US is set to impose sanctions on Rosneft if it continues to trade crude oil and fuel with Venezuela's PDVSA in exchange for debt...
(Reuters, Luc Cohen, 14.Aug.2019) — Foreign joint venture partners with Venezuelan state-owned oil company PDVSA are concerned the latest set of U.S. sanctions on the South American country could disrupt...
(Reuters, 14.Aug.2019) — Russian state oil company Rosneft has for the first time asked buyers to use the euro as the default currency in a spot tender to sell naphtha,...
(Reuters, Matt Spetalnick and Roberta Rampton, 5.Aug.2019) — U.S. President Donald Trump imposed a freeze on all Venezuelan government assets in the United States on Monday, sharply escalating an economic...
(Bloomberg, 1.Aug.2019) — Russian oil products are making their way to sanction-stained Venezuela, affording a reprieve for the Latin American nation as it battles persistent fuel shortages. Venezuela received at...
(Argus, 29.Jul.2019) — India's imports of Venezuelan crude jumped by 25pc year on year in June and by 37pc from May, reflecting the limited reach of US sanctions on the...
(Reuters, 29.Jul.2019) — Venezuelan state-run oil company PDVSA said on Monday the Petropiar extra-heavy crude upgrader, part-owned by U.S. oil company Chevron Corp, had begun operations as a blending facility....
(Reuters, 26.Jul.2019) — The administration of United States President Donald Trump said on Friday that it has renewed Chevron Corp's licence to drill for oil and gas in Venezuela despite...
(Petroleum Economist, 18.Jul.2019) — Latin America's economically troubled oil giant faces the difficult task of significantly raising Asian crude grades. Venezuela's upgraders have been forced to stop upgrading extra-heavy crude...
(Reuters, Marianna Parraga and Luc Cohen, 28.Jun.2019) — Venezuelan state oil firm PDVSA is revamping one of its major processing operations geared to supplying U.S. buyers to produce instead a...
(VOA, Martin Arostegui, 21.May.2019) — Spain's Repsol, the last western oil giant with major operations in Venezuela, is leaving the embattled country, as pressure mounts from U.S. sanctions and continuing...
(The Moscow Times, 24.Apr.2019) — Reuters has corrected a story it published on April 18 saying Venezuela is funneling cash flow from oil sales through Russian state energy giant Rosneft...
(Reuters, 19.Apr.2019) — The cash-strapped government is becoming increasingly reliant on the Kremlin. (Corrects April 18 story to make clear Reuters could not determine payments were made under the proposed...
(Reuters, Marianna Parraga, 18.Apr.2019) — President Nicolas Maduro is funneling cashflow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to...
(Argus, Patricia Garip, 10.Apr.2019) — Darkness has befallen Venezuela in more than one sense, and incumbent oil companies are scrambling for a ray of light. It was hard enough for...
(Oilprice.com, Julianne Geiger, 26.Mar.2019) — Venezuela is once again finding itself in the dark in another massive power outage, according to Aljazeera, weighing further on the South American country that...
(Argus, 14.Mar.2019) — Venezuela’s political opposition is proposing a comprehensive oil reform that would allow foreign investors to own up to 100pc of oil assets from the wellhead to the...
(Oilprice.com, Irina Slav, 27.Feb.2019) — Russian companies in Venezuela are not experiencing any problems resulting from the escalation in the political situation in the country and have not incurred any...
(Petroleum Economist, Charles Waine, 22.Feb.2019) — Despite severe US sanctions, President Maduro is standing firm. But how long can the political impasse last while oil production continues to decline? Venezuela...
(S&P Global Platts, 22.Feb.2019) — US sanctions could more than halve Venezuela's crude production by the end of the year, hitting heavy oil joint ventures in the Orinoco Belt and...
(Argus, 11.Feb.2019) — India´s two leading refiners will continue to import Venezuelan crude but will no longer supply oil products to Venezuela´s state-owned PdV because of US sanctions, Indian downstream...
(Reuters, Corina Pons, Marianna Parraga, 9.Feb.2019) — Venezuela’s state-run oil company PDVSA is telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at...
(Reuters, 5.Feb.2019) — Venezuelan state oil company PDVSA’s principal amount of debt to Russian oil producer Rosneft stood at $2.3 billion at the end of the fourth quarter, down from...
(Energy Analytics Institute, Pietro D. Pitts, 29.Jan.2019) — U.S. sanctions announced in January week against Venezuela’s state oil company PDVSA will not only affect Venezuela’s oil sector, but also hold...
(Oilprice.com, Matthew Smith , 14.Jan.2019 ) — The Russian bear is on the prowl once again as President Putin seeks to expand Moscow’s influence and bolster the one-time superpower’s global...
(ABCNews, Anastasia Bagaeva, 5.Dec.2018) — Venezuelan President Nicolas Maduro visited Moscow Wednesday for talks with Russian President Vladimir Putin. The Kremlin said assistance for Maduro’s regime was on the agenda....
(Rosneft, 29.Nov.2018) — The first Russian-Chinese energy business forum is successfully finished in Beijing. The format of the event was established in July 2018, upon instruction of Russian President Vladimir...
(Reuters, Alexandra Ulmer and Marianna Parraga, 24.Nov.2018) — The head of Russian oil company Rosneft, Igor Sechin, flew to Caracas this week to meet Venezuelan President Nicolas Maduro and complain...
(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 oil in Venezuela. But recently,...
(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 said on Tuesday. It also...
(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 Citgo. The question is why....
(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 risk and fears of a...
(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 it tries to hold on...
(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 develop and produce hydrocarbons due...
(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, Reuters quoted anonymous sources close...
(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 tanker collision more than a...
(Energy Analytics Institute, Jared Yamin, 12.Sep.2018) — The decline is consistent and constant as well as consistently and constantly bad, writes Caracas Capital Market in a research note emailed to...
(Reuters, Marianna Parraga, 6.Sep.2018) — Crude exports by Venezuela’s PDVSA have slowed after a tanker collision at its main port last month disrupted operations, adding to a backlog of vessels...
(Mining.com, Valentina Ruiz Leotaud, 29.Aug.2018) — State-owned Petróleos de Venezuela SA or PDVSA announced on Twitter that it filed an appeal requesting that a Delaware court vacate a decision made...
(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...
(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...
(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...
(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...
(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...
(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...
(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...
(OilPrice.com, Viktor Katona, 6.Aug.2018) – Rosneft has been rocking the Russian oil sector for quite some time already – first it acquired several domestic assets, in some cases bordering on...
(Energy Analytics Institute, Ian Silverman, 5.Jul.2018) – The heavy oil project is currently producing 10,000 barrels per day, according to PDVSA. PetroVictoria, is a joint venture comprised of Venezuela’s PDVSA...
[caption id="attachment_1458" align="alignnone" width="840"] Heavy oil desalters. Source: PDVSA[/caption] (Energy Analytics Institute, Ian Silverman, 5.Jul.2018) – The land transfer of two from Bolívar to Anzoátegui states, for oil crude desalination...
(Reuters, Marianna Parraga, 3.Jul.2018) – Venezuela’s crude shipments to India, its third largest export market, fell 21 percent in the first half of the year, according to internal documents from...
(Energy Analytics Institute, Piero Stewart, 28.Jun.2018) – Officials from both oil companies held meetings in Caracas to discuss partnerships. PDVSA President Manuel Quevedo, who also serves as Venezuela’s Oil Minister,...
(Reuters, 26.Jun.2018) – Venezuela’s PDVSA and Chevron have begun to restart their 210,000-barrel-per-day (bpd) Petropiar heavy crude upgrader after a nearly month-long, repair-related shutdown and a fire, according to the...
(Kallanish Energy, 28.Mar.2018) – Chinese and Russian state oil companies PetroChina and Rosneft will not pay the costs of repairing and modernizing Venezuela’s Cardón and Amuay refineries for PDVSA, according...
(Energy Analytics Institute, Piero Stewart, 26.Mar.2017) – An inability to boost foreign and domestic investments in Venezuela’s oil sector in 2017 will result in further declines in the Caribbean nation’s...
(PDVSA, 23.Feb.2017) – PDVSA and the Russian company Rosneft held a technical conference on strategy, innovation and technology for a sustainable future, February 22-23, 2017 at PDVSA Intevep’s headquarters in...
(Energy Analytics Institute, Ian Silverman, 25.Dec.2016) – PDVSA maintains full ownership and control over its Houston-based subsidiary Citgo Petroleum Corporation. PDVSA, in an official statement, also downplayed media versions and...
(Energy Analytics Institute, Piero Stewart, 1.Apr.2016) – Russia's Rosneft OAO and PDVSA signed an agreement for joint development of production, treatment and the sale of natural gas from the Mariscal...
(Rosneft, 8.Oct.2015) – Rosneft, as part of a PetroMiranda JV including PDVSA and Gazprom Neft, has drilled an unprecedented horizontal well GG1-14 at the Junin-6 block. The well is unique...
(Energy Analytics Institute, Piero Stewart, 7.Oct.2013) – PDVSA President Rafael Ramirez spoke with journalist in Puerto La Cruz, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez regarding shipments...
(Energy Analytics Institute, Ian Silverman, 15.Aug.2013) – Rosneft and PDVSA are reviewing plans to extract gas in Sucre state and in the Gulf of Venezuela, according to a PDVSA official....
(Energy Analytics Institute, Ian Silverman, 14.Aug.2013) – Rosneft President Igor Sechon said his company would utilize Russian technology at the Petromonagas heavy oil project to increase production to 160,000 b/d...
(Energy Analytics Institute, Piero Stewart, 31.Jul.2013) – PDVSA President Rafael Ramirez held a small round table with journalist in Caracas, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez...
(BP, 20.Mar.2013) — Rosneft and BP completed a number of transactions, in line with the terms announced in October 2012. As a result of the transactions: BP receives net $12.48bn...