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.

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.