Venezuela
News
April 18, 2024
Venezuelan firm A&B Investments will partner with Petróleos de Venezuela to run heavy oil fields in the Orinoco Belt and an associated processing facility, according to people familiar with the negotiations who asked not to be named because discussions are ongoing.
News
April 17, 2024
The U.S. plans to allow a Treasury Department license permitting oil and gas production to expire without renewal on Thursday, according to people familiar with the plan, who asked not to be identified without permission to speak publicly, if Venezuela fails to act.
News
March 15, 2024
Trinidad’s energy minister and its national gas company’s vice president and bp’s local head and Venezuela’s oil minister had met to discuss developing the Manakin and Cocuina fields as one project. bp operates the Manakin field, which lies in Trinidad’s waters.
News
March 10, 2024
The Petrobras delegation visited oil fields in Lake Maracaibo this week in what people familiar with the matter described as a courtesy trip. Maracaibo is a key production region for Venezuela and an opportunity for the country to resuscitate the linchpin of its economy after years of underinvestment.
News
March 07, 2024
The flow is expected to increase the overall production at Chevron’s three jointly run ventures with the state oil company Petroleos de Venezuela SA by 35% to 250,000 bpd by 2025, leading to more supply shipped to the US.
News
February 06, 2024
Oil and gas firms and contractors fear their nascent deals for everything from imports of new construction equipment to their connections with U.S. banks will break off if Maduro’s ban of opposition candidates in this year’s election prompts the U.S. to allow a six-month suspension on sanctions to expire in April.
News
January 30, 2024
While it’s unclear whether the U.S. would restore a total ban or allow oil major Chevron Corp to hold limited operations in Venezuela, production could nevertheless drop to 600,000 or 700,000 bpd in a matter of months, according to said Fernando Ferreira, director of geopolitical risk at Rapidan Energy Advisors.
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.
