Venezuela
News
October 25, 2024
(Bloomberg) — Venezuela’s Vice President Delcy Rodríguez met with Indian energy officials on Friday to explore new oil and gas partnerships between both countries.
News
October 21, 2024
(WO) – Venezuela detained former Oil Minister Pedro Tellechea over the weekend as part of an internal purge at the state-owned oil company, PDVSA, after President Nicolás Maduro’s disputed reelection.
News
October 09, 2024
Jindal Power Ltd. is walking away from a venture that would have operated an oil-processing facility for Venezuela’s state-controlled crude producer, according to people familiar with the matter.
News
July 10, 2024
Cisneros, who is chairman of Cisneros Corporation, is entering a joint venture with PDVSA through Globalable Holding SL. The JV known as Petrocabimas is based in the western Zulia state and is projected to quadruple current production to 50,000 bpd by 2026, Cisneros said in a statement. PDVSA did not reply to a request for comment.
News
May 23, 2024
Repsol recently signed a deal with state-owned Petroleos de Venezuela SA that adds jointly managed fields to its operations. In the next few months, the assets are expected to produce 20,000 bpd, doubling what the European major currently produces in one of its three ventures, Chief Executive Officer Josu Jon Imaz said in a call with investors in April.
News
May 16, 2024
Oil firms that want to stay in Venezuela are flooding the U.S. Treasury’s Office of Foreign Assets Control with applications for permits after Washington reimposed sanctions last month, leaving officials struggling to clear the backlog.
News
May 14, 2024
Venezuela’s armed forces have moved “substantial quantities” of personnel and equipment near the disputed, oil-rich Essequibo region that’s controlled by Guyana, a Washington-based think tank reports, potentially escalating tensions ahead of presidential elections.
News
April 26, 2024
The new fields, Tomoporo and La Ceiba, contain more than 5 Bbbl of oil and are part of a venture in which Repsol holds a 40% stake and PDVSA holds the remainder.
News
April 18, 2024
Venezuelan firm A&B Investments will partner with Petróleos de Venezuela to run heavy oil fields in the Orinoco Belt and an associated processing facility, according to people familiar with the negotiations who asked not to be named because discussions are ongoing.
News
April 17, 2024
The U.S. plans to allow a Treasury Department license permitting oil and gas production to expire without renewal on Thursday, according to people familiar with the plan, who asked not to be identified without permission to speak publicly, if Venezuela fails to act.
News
March 15, 2024
Trinidad’s energy minister and its national gas company’s vice president and bp’s local head and Venezuela’s oil minister had met to discuss developing the Manakin and Cocuina fields as one project. bp operates the Manakin field, which lies in Trinidad’s waters.
News
March 10, 2024
The Petrobras delegation visited oil fields in Lake Maracaibo this week in what people familiar with the matter described as a courtesy trip. Maracaibo is a key production region for Venezuela and an opportunity for the country to resuscitate the linchpin of its economy after years of underinvestment.
News
March 07, 2024
The flow is expected to increase the overall production at Chevron’s three jointly run ventures with the state oil company Petroleos de Venezuela SA by 35% to 250,000 bpd by 2025, leading to more supply shipped to the US.
News
February 06, 2024
Oil and gas firms and contractors fear their nascent deals for everything from imports of new construction equipment to their connections with U.S. banks will break off if Maduro’s ban of opposition candidates in this year’s election prompts the U.S. to allow a six-month suspension on sanctions to expire in April.
News
January 30, 2024
While it’s unclear whether the U.S. would restore a total ban or allow oil major Chevron Corp to hold limited operations in Venezuela, production could nevertheless drop to 600,000 or 700,000 bpd in a matter of months, according to said Fernando Ferreira, director of geopolitical risk at Rapidan Energy Advisors.
News
January 29, 2024
The U.S. will allow a six-month suspension on sanctions to expire in April if opposition candidate María Corina Machado is barred from running, and is also considering additional measures, according to the officials, who asked not to be identified discussing private deliberations.
News
January 24, 2024
There is an “open door” for the countries to develop more offshore natural gas fields that sit on mutual territories after Venezuelan President Nicolas Maduro issued a license so Shell Plc and Trinidad and Tobago can import from the Dragon project, Mark Loquan, President of Trinidad and Tobago’s national gas company, said in the sidelines of a conference in Port of Spain.
News
December 18, 2023
While easing sanctions has opened a path for oil majors to return to Venezuela, President Nicolás Maduro has yet to meet all the terms laid out by the U.S., prompting Biden officials to assess the potential need to reimpose sanctions.
News
December 11, 2023
Oil majors operating in Guyana’s waters are “moving ahead aggressively” with production plans despite Venezuela’s threats to take over the region in an escalating border conflict, according to President Irfaan Ali.
News
December 11, 2023
The border dispute between Venezuela and Guyana is unlikely to escalate into a military conflict despite the growing hostile rhetoric between the South American nations, says Chevron Corp.’s top executive.
News
December 06, 2023
The Spanish and Italian companies are hammering out contract terms between their oil ventures and state-owned Petróleos de Venezuela SA, according to three people familiar with the deals who aren’t authorized to speak publicly.
