Venezuela
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.
News
December 04, 2023
ExxonMobil Corp. CEO Darren Woods said the Texas energy giant is focusing on producing oil in Guyana as efficiently as possible to help the South American country in its border dispute with Venezuela.
News
November 28, 2023
Companies including Shell Plc., Repsol SA, Hungary’s Mol Nyrt, Sweden’s Maha Energy AB, the National Gas Company of Trinidad and Tobago and Bolivia’s state gas company YPFB have sent delegations to Caracas since the U.S. lifted curbs on Venezuela’s oil sector last month, according to four people with knowledge of the situation.
News
November 20, 2023
Colombia is studying whether to import natural gas and light crude from Venezuela to cut fuel costs.
News
November 08, 2023
Under the deal, M&P aims to increase its current production to 50,000 bpd in Zulia state, Venezuela’s oil cradle.
News
November 03, 2023
In Venezuela, the company will expand works, including new drilling, after the Biden administration temporarily lifted a four-year ban on the country’s oil industry.
News
November 02, 2023
Stockholm-based Maha Energy has gained rights to a stake in the PetroUrdaneta project that belongs to Brazilian industrial conglomerate Novonor, Kjetil Solbraekke, the Swedish firm’s chief executive officer, told Bloomberg
News
October 23, 2023
The surprise move on Oct. 18 allows international companies to apply the full weight of their expertise and technology to crude fields and infrastructure that atrophied amid years or underinvestment, civil turmoil and international isolation.
News
October 20, 2023
The sanctions relief follows the issuance of the government’s smallest plan in decades for offshore oil and gas leasing during the next five years, Manchin stressed.
News
October 19, 2023
That Venezuelan recovery, along with a more vigorous rebound in Iran, has helped moderate futures prices this year and helped to offset some of the impact of curtailments by Saudi Arabia and Russia.
News
October 19, 2023
In a gesture of goodwill after Maduro’s government entered talks with some members of the opposition, the U.S. Treasury Department said Wednesday it issued a six-month license authorizing transactions involving the oil and gas sector in Venezuela.
News
October 04, 2023
It makes “geopolitical sense” for Petrobras to look at expanding into Venezuela and Bolivia because they are neighboring countries with vast potential for oil and gas, Prates said in a televised interview late Monday.
News
August 25, 2023
Easing sanctions could revive long-awaited drilling projects by Chevron Corp., the only U.S. oil company with operations in Venezuela, as well as those by European firms, including Eni SpA, Repsol SA and Maurel & Prom.
News
May 15, 2023
The two European companies want to resume their jointly run Cardon IV project “at its maximum capacity,” which is 1.3 Bcf, Tellechea said. It currently pumps 580 MMcf of natural gas to meet Venezuela’s household and industrial demand.
News
April 29, 2023
Since U.S. President Joe Biden eased sanctions on Venezuela last year, Chevron has started lifting so much crude from the country that it’s had to put 600,000 bbl of it in storage in the Bahamas this month.
News
February 15, 2023
Eni, Repsol and French company Maurel et Prom have the capacity to pump an additional 50,000 to 80,000 bpd if they increase operations in the South American country.
