Venezuela ///

Rigged oil auctions said to squander years of PDVSA profits

No country in the Americas is deemed more corrupt than Venezuela. There are so many tales of bribes and influence peddling, it’s hard to keep track.

OPEC output falls to lowest in a year as Venezuela's woes deepen

OPEC crude production dropped to the lowest in a year amid the woes in Venezuela’s oil industry.

EIA: Venezuela’s crude oil production declines amid economic instability

Venezuela’s crude oil production has been on a downward trend for two decades, but it has experienced significant decreases over the past two years.

U.S. said to weigh Venezuelan oil sanctions before April vote

The U.S. is leaning toward imposing oil-sector sanctions on Venezuela before the country holds April 22 elections that opposition leaders have vowed to boycott, according to a senior State Department official.

U.S. ban on key oil material could choke Venezuelan production

The outlook for declining oil production in Venezuela may get grimmer if the U.S. bans supply of a key commodity used to help Venezuelan crude flow from oilfields to the coast.

Harvest Natural Resources sues ex-oil chief over bribe demands

Former Venezuelan oil minister Rafael Ramirez, already accused of corruption by his own country, now faces a lawsuit from a Houston energy firm alleging that it lost almost half a billion dollars over its refusal to pay bribes for contracts.

Venezuela plight has U.S. rushing for heavy UK crude

Oil refineries in the U.S. Gulf of Mexico are buying the most crude from the UK North Sea in more than seven years as they scramble to replace lost supplies from Venezuela.

Venezuela's oil output crash is costly for U.S. refiners

U.S. Gulf Coast refiners are paying the price for shrinking Venezuelan crude output.

Innovative thinkers

Emily Querubin, World Oil

Rod Uchytil: Leaving an international impact

Venezuela oil sanctions more likely as Tillerson tours region

U.S. Secretary of State Rex Tillerson signaled the U.S. is closer to imposing sanctions on Venezuela’s oil sector, raising the pressure on President Nicolas Maduro as his talks with opposition leaders remained at an impasse.

U.S. potential ban on Venezuelan oil may hit Valero, Chevron hardest

If the U.S. bans oil imports from Venezuela, Valero Energy Corp. and Chevron Corp. may end up paying the price.

'Oil-for-loan' deals partly to blame for Venezuela's economic spiral

China’s role in Venezuela, including oil-for-loan deals, is partly to blame for the South American country’s shrinking economy and the international community will probably shoulder the costs, U.S. Treasury Under Secretary for International Affairs David Malpass said.

OPEC, Russia sustain production as Saudi Arabia masks Venezuelan drop

Crude production by OPEC and its main ally Russia held steady last month as increases in Saudi Arabia and Iran offset the ongoing deterioration of Venezuela’s oil industry.

U.S. shale growth could support Caribbean oil storage owners

Caribbean oil terminals hurt by dwindling Venezuelan supply and a market that encourages traders to pull oil out of tank may get a shot in the arm from U.S. shale.

Days before OPEC meeting, Venezuela names general as oil boss

Just a few days before a key OPEC meeting, Venezuela President Nicolas Maduro named a military leader the nation’s new oil supremo as it grapples with U.S. sanctions, overdue bond payments and dwindling production.

Venezuela’s state oil producer to cut costs by 50%

Already in default and struggling with sinking oil production, Venezuela’s state-run energy firm told its employees to cut costs and expenses by 50% in an austerity drive to reflect the broader economic crisis hitting the OPEC nation of 30 million people.

Caution urged for potential investors in Venezuela

Jay Newman, the former hedge fund manager who helped billionaire Paul Singer win a 15-year fight against Argentina, has a word of caution for investors looking to replicate his success amid the chaos unfolding in Venezuela.

Venezuelan oil output heads to 29-year low as cash crunch grows

Venezuela is set to pump the least oil in almost three decades, just when it needs petrodollars the most.

PDVSA said to open Swiss office after Venezuela hit by sanctions

Venezuela’s state-run oil company is opening an office in Switzerland, the latest step in the cash-strapped firm’s struggle to survive amid tighter U.S. sanctions and declining production.

Venezuelan oil too big to fail, at least for China and Russia

Venezuela’s sudden demand to renegotiate its billions in debt could complicate life for its two biggest oil patrons, China and Russia.