Venezuela
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.
News
October 19, 2023
That Venezuelan recovery, along with a more vigorous rebound in Iran, has helped moderate futures prices this year and helped to offset some of the impact of curtailments by Saudi Arabia and Russia.
News
October 19, 2023
In a gesture of goodwill after Maduro’s government entered talks with some members of the opposition, the U.S. Treasury Department said Wednesday it issued a six-month license authorizing transactions involving the oil and gas sector in Venezuela.
News
October 04, 2023
It makes “geopolitical sense” for Petrobras to look at expanding into Venezuela and Bolivia because they are neighboring countries with vast potential for oil and gas, Prates said in a televised interview late Monday.
News
August 25, 2023
Easing sanctions could revive long-awaited drilling projects by Chevron Corp., the only U.S. oil company with operations in Venezuela, as well as those by European firms, including Eni SpA, Repsol SA and Maurel & Prom.
News
May 15, 2023
The two European companies want to resume their jointly run Cardon IV project “at its maximum capacity,” which is 1.3 Bcf, Tellechea said. It currently pumps 580 MMcf of natural gas to meet Venezuela’s household and industrial demand.
News
April 29, 2023
Since U.S. President Joe Biden eased sanctions on Venezuela last year, Chevron has started lifting so much crude from the country that it’s had to put 600,000 bbl of it in storage in the Bahamas this month.
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.
Article
February 2022
Every region will post an increase, led by the Middle East, the Americas, Africa and the FSU. Offshore activity will grow at about the same pace as onshore drilling.
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.
