Venezuela
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.
News
December 07, 2022
Chevron will use the facility to process tar-like crude from Venezuela’s fields that will be shipped to U.S. refineries in the Gulf of Mexico under a sanctions waiver granted by the Treasury Department last month. The first shipment of 1 million barrels is expected to be loaded later this month.
News
November 27, 2022
The Biden administration granted Chevron Corp. a license to resume oil production in Venezuela after US sanctions halted all drilling activities almost three years ago.
News
July 06, 2022
Chevron Corp. wants more control over the oil it produces in Venezuela, a move that would help the driller boost output and recover debt if the US eases sanctions amid a global fuel crunch.
News
July 01, 2022
Venezuela’s economy is forecast to expand at its fastest pace in 15 years, marking a rebound for a country that recently emerged from the deepest recession in Latin America.
News
May 20, 2022
Venezuela creditors are holding a rare meeting in Davos next week to discuss potential opportunities in the oil sector amid increasing optimism for investment in the country as the U.S. floats easing some sanctions.
