Venezuela ///

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.

Oil extends surge as OPEC signals deal, supply threats mount

Oil closed at its highest in more than two years for a second day as support grew for OPEC to prolong output cuts, while supply threats abounded.

Venezuela will seek to restructure debt, blaming sanctions

President Nicolas Maduro said Venezuela will seek to restructure its global debt after the state oil company makes one more payment, blaming U.S. sanctions for making it impossible to find new financing.

Venezuela's restructure heightens Rosneft's $6-billion risk

The risks associated with Rosneft PJSC’s $6 billion advance to Venezuela’s oil company for future crude shipments have deepened after the Latin American nation announced plans to restructure crushing debts.

Former Venezuela Oil Company CEO says bonds will be paid

The former CEO of Venezuela’s state run-oil company said it will make debt payments this year and next, even as he acknowledged the crude producer is struggling with cash-flow and operational issues.

Venezuelan oil cargoes to U.S. ports plunge as sanctions bite

Venezuela’s biggest market for crude sales -- the U.S. -- is becoming a harder and harder place for the socialist nation’s oil producer to do business as sanctions and diminishing quality controls discourage would-be buyers.

Oil & Gas in the Capitals

Jacques Sapir, Contributing Editor

Hope for improved Russian-U.S. relations has evaporated, following a U.S. congressional vote and retaliation taken by the Russian government.

Venezuela offers $5 million to aid Harvey victims via Citgo

Venezuela, still reeling from a fresh round of U.S. sanctions that make it harder to raise financing in capital markets, offered $5 million to help victims of Hurricane Harvey in parts of Texas through its subsidiary Citgo Petroleum Corp.

Venezuela oil minister, PDVSA head to switch roles, Maduro says

Venezuelan oil minister Nelson Martinez and state oil company president Eulogio Del Pino will switch roles as the South American country’s production wanes and money dries up.

Schlumberger, Halliburton IOUs preserve Venezuela link, for now

For Schlumberger Ltd. and Halliburton Co. the road to payment for services in Venezuela is increasingly long and winding.

Venezuela scorns threat of sanctions: "We kneel for no one"

President Nicolas Maduro said Venezuela’s authoritarian regime is prepared for additional retaliation from the U.S., one of the crisis-torn nation’s principal trade partners, including wide-reaching sanctions on its beleaguered economy and oil industry.

Venezuela's Citgo turns to Canada for oil as crisis deepens

Venezuela’s oil-supply woes are so dire that its U.S. refineries are turning to Canada for help.

Threat of Venezuelan oil ban pits oil boss Hamm against refiners

The prospect of a U.S. blockade of crude oil imports from Venezuela has ignited fierce lobbying in Washington pitting domestic energy producers such as oil tycoon Harold Hamm, who favor a get-tough approach, against refiners that depend on those supplies.

Niche U.S. oil driller gets a shot at world's biggest reserves

Venezuelan President Nicolas Maduro praised foreign companies wise enough to make deals with what he called “our beloved PDVSA.”

Chevron, Total withdraw foreign staff in Venezuela amid political turmoil

Repsol SA pulled all foreign workers from its oil fields in Venezuela amid a deepening political crisis, while Chevron Corp. and Total SA have removed a small number of employees, said people with knowledge of the companies. Norway’s Statoil ASA has withdrawn its expatriate staff.

Oil & Gas in the Capitals

Mauro Nogarin, Contributing Editor

Notwithstanding Latin America’s limited economic growth, exploration investments are the common denominator in the region’s major oil and gas plays.

First Oil

Kurt Abraham, World Oil

On July 30, either through their own free will, or through coercion and intimidation by their president, Nicholas Maduro, the citizens of Venezuela approved a new “Constituent Assembly.”