WorldOil Rosneft shifts exports to affiliate, skirting U.S. sanctions on Venezuela There are already signs that the latest U.S. sanctions thrown at Venezuela are failing. Maduro declares “energy emergency”, shakes up PDVSA leadership Venezuela’s President Nicolas Maduro declared an “energy emergency” as he announced a commission to revamp state oil company Petroleos de Venezuela SA, redoubling efforts to shore up the nation’s crumbling oil industry. U.S. sanctions on Rosneft crimp Venezuela’s main source of cash Rosneft Trading, the main exporter of Venezuelan crude, was targeted by the U.S. for helping to sell the commodity that bankrolls Maduro. U.S. sanctions Russian producer over links to PDVSA The U.S. sanctioned a unit of Russia’s largest oil producer Rosneft PJSC for maintaining ties with Venezuela’s Nicolas Maduro and state-run oil company PDVSA. Chevron’s Venezuela output jumps as U.S. considers more sanctions Chevron has ramped up output at a key Venezuela oil project to levels not seen in almost a year, offering a thorny reminder of how U.S. sanctions are failing to deliver a knockout of Nicolas Maduro’s regime. U.S. mulls sanctioning Rosneft over Maduro ties, but is wary of market chaos The U.S. is weighing whether to sanction Russia’s biggest oil producer, Rosneft PJSC, for maintaining ties with Venezuela’s Nicolas Maduro, though American officials are wary that the move could cause chaos in global oil markets, according to people familiar with the matter. Venezuela weighs privatizing oil as it faces economic freefall Facing economic collapse and painful sanctions, the socialist government of Venezuelan President Nicolas Maduro has proposed giving majority shares and control of its oil industry to big international corporations, a move that would forsake decades of state monopoly. Chevron gets another extension to continue Venezuela operations Chevron and four oilfield service providers won U.S. government approval to continue working in Venezuela for 90 days, allowing the companies’ access to the world’s largest reserves of crude despite sanctions on the crisis-stricken country. Venezuela’s demand for oil payments in cryptocurrency halts purchases Some buyers of Venezuelan crude oil have halted purchases after the country started demanding payment of port fees in its failed cryptocurrency, calling it a "scam." Rosneft elbows PDVSA aside on Venezuela service contracts 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.