Venezuela ///

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.

Venezuela using ‘dark ships’ to secretly export millions of barrels of oil

The practice of oil tankers turning off their location signals has increased in the past month, according to shipping data, after the U.S. went after a Chinese-owned shipping company it said was moving crude for sanctioned Iran.

Chevron wins 90-day Venezuela sanction waiver extension

The Trump administration extended Chevron’s waiver to operate in Venezuela, allowing the second-largest U.S. oil explorer to keep its toehold in the crisis-stricken Latin American nation as U.S. sanctions severely restrict crude exports.

U.S. mulls extending Chevron’s Venezuela waiver, with more conditions

The Trump administration is considering an extension of Chevron’s waiver to operate in Venezuela, albeit with even greater limitations, according to people familiar with the matter.

Brazil says oil polluting its coast likely came from Venezuela

Brazil’s efforts to uncover the origin of oil washing up on more than 130 beaches along its pristine northeastern coastline are pointing to Venezuela as the likely culprit.

Venezuela can’t find vessels to ship its oil as sanctions bite

Exports of sanction-hit Venezuelan oil now face a new concern: a shortage of vessels willing to transport crude produced by the regime of President Nicolas Maduro.

Venezuela’s oil woes deepen as Chinese contractor halts work

A Chinese oil contractor halted work on an expansion project in Venezuela because it hasn’t been paid, underscoring the difficulties for the Nicolas Maduro regime even at energy ventures backed by allies.

Chevron lays groundwork for Venezuela exit before waiver expires

Chevron appears to be laying the groundwork to leave Venezuela in the event that the U.S. declines to extend a waiver allowing it to continue operating in the country.

New Citgo chief won’t sell out, making debt reduction a top priority

Citgo Petroleum isn’t for sale, says the man named the company’s new leader by the opposition to Venezuelan President Nicolas Maduro. His priority moving forward is to prepare for a return to normalcy.

Half of Venezuela’s oil rigs may vanish if U.S. sanctions waivers lapse

Almost half the rigs operating in Venezuela will shut down by Oct. 25 if the Trump administration doesn’t extend a 90-day waiver from its sanctions, according to data compiled from consultancy Caracas Capital Markets.

China’s biggest energy company shuns Venezuela oil on tighter U.S. sanctions

China’s biggest energy company is backing away from direct purchases of Venezuelan crude as the Trump administration tightens sanctions against the South American nation.

Venezuela importing the most fuel since U.S. sanctions started

Venezuela is importing fuel at a rate not seen since the U.S. imposed crippling sanctions on the country and cut off its main supply of foreign gasoline.

Chevron warns future Venezuela events may hurt earnings

The last major U.S. oil producer in Venezuela is warning that developments in the crisis-torn South American nation could hurt its earnings.

Chevron wins U.S. extension to keep producing oil in Venezuela

Chevron and four oil services companies won U.S. government approval to continue producing oil in Venezuela despite sanctions placed on the crisis-stricken country.

Pressure mounts on Trump to end Chevron’s Venezuela presence

Pressure is mounting on President Trump to end Chevron’s 100-year presence in Venezuela as he seeks to exert pressure on Nicolas Maduro's regime.

Vessels sailing under the radar to ship Venezuelan crude to Cuba

Stopping the flow of Venezuelan oil to its ally Cuba might prove harder than the U.S. expected.

OPEC keen to extend cut, Russia is cautious

For an OPEC+ meeting in which the key decision over an output-cut extension is supposedly “in the bag,” Monday’s gathering in Vienna could be as closely watched as any during the three-year coalition.