Venezuela
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.
News
May 18, 2022
The Biden administration plans to ease sanctions on Venezuelan oil in a bid to bring more of the country’s crude to Europe.
News
February 04, 2022
Venezuela’s government and Chevron Corp. are in preliminary talks to give the company greater control of some operations in exchange for debt relief.
News
January 21, 2022
The U.S. Treasury Department banned transactions of a key bond issued by Venezuela’s state-owned oil company for one year, the longest since it first stepped in to shield its U.S.-based refining arm from creditors, amid its economic downfall and political crisis.
News
January 11, 2022
China doubled down on imports of Iranian and Venezuelan crude in 2021, taking the most from the U.S.-sanctioned regimes in three years, as refiners brushed off the risk of penalties to scoop up cheap oil.
News
January 03, 2022
Oil exports from Venezuela doubled in December from a year earlier as the country raises production of revenue-generating hydrocarbons in defiance of U.S. sanctions.
News
January 28, 2021
High on the agenda for the U.S. and Indian oil companies: reinstating transactions known as oil swaps that would allow companies to receive Venezuelan crude in exchange for supplying diesel fuel.
News
January 25, 2021
The cat-and-mouse games that avoid detection and sanctions include ship-to-ship transfers, shell companies and silenced satellite signals. But there’s another aspect to the dodge. It involves “doping” the oil with chemical additives and changing its name in the paperwork so it can be sold as a wholly different crude without a trace of its Venezuelan roots.
News
January 14, 2021
The island nation of Palau says a tanker that recently loaded Venezuelan crude was using a false signal to disguise its identity, potentially putting the Pacific country in the crosshairs of U.S. sanctions.
News
January 05, 2021
Since taking over for Hugo Chavez in 2013, Nicolas Maduro has resisted efforts to force him out, presiding over a precipitous deterioration of the oil-rich country.
News
January 01, 2021
Venezuela has managed to defy sweeping U.S. sanctions against state-owned producer PDVSA and keep shipping some crude abroad, mainly to China. But Washington has intensified the crackdown on companies that break the restrictions, and PDVSA has struggled to sell its barrels in Asia.
News
December 06, 2019
A subsidiary of Rosneft has taken over some contract discussions with local service providers in Venezuela, stepping in for PDVSA on joint projects with the state-owned oil company, according to people familiar with the matter.
News
November 14, 2019
The practice of oil tankers turning off their location signals has increased in the past month, according to shipping data, after the U.S. went after a Chinese-owned shipping company it said was moving crude for sanctioned Iran.
News
November 12, 2019
Repsol SA is looking as far away as Western Canada for oil for its European refineries amid dwindling supplies from Mexico and Venezuela.
News
October 22, 2019
The Trump administration extended Chevron’s waiver to operate in Venezuela, allowing the second-largest U.S. oil explorer to keep its toehold in the crisis-stricken Latin American nation as U.S. sanctions severely restrict crude exports.
News
October 18, 2019
The Trump administration is considering an extension of Chevron’s waiver to operate in Venezuela, albeit with even greater limitations, according to people familiar with the matter.
