Venezuela ///

Half-billion dollars of sanctioned oil sits offshore Venezuela

Venezuela is running out of space to store its sanction crude, forcing it to reduce output at a time when the world is thirsty for heavy oil.

Vitol expect oil to rally as OPEC, Venezuela cause shortage

The world’s largest energy trader says oil prices are set to rally further as OPEC output cuts and American sanctions on Iran and Venezuela cause a "shortage" of the low-quality heavy crudes refiners rely on.

Venezuelan oil finds home in India as U.S. shuns shipments

India is feasting on Venezuelan oil, after the U.S. imposed a de facto ban on crude imports from the Latin American nation.

Venezuela's exit from U.S. Sanctions? Show Maduro the door

The Trump administration has given Venezuela’s state-owned oil giant, Petroleos de Venezuela SA, and President Nicolas Maduro’s associates a clear path to escape U.S. sanctions: Help bring down the authoritarian leader.

U.S. Treasury sanctions Venezuela Oil Chief Quevedo, four others

The U.S. Treasury Department sanctioned Venezuelan Oil Minister Manuel Quevedo, who also serves as the head of its state-owned oil giant, PDVSA, and four other officials for their ties to President Nicolas Maduro.

Price for heavy-crude surges with U.S. ban on Venezuelan oil

Some of the world’s dirtiest and densest crudes, traditionally spurned for being too difficult to process, are having a moment in the sun, with a little help from President Trump.

IEA says Venezuela crisis risks disrupting global crude market

The political crisis in Venezuela risks disrupting global crude markets as the type of oil pumped by the OPEC member becomes increasingly scarce, according to the International Energy Agency.

Chevron CEO vows to work with U.S. to remain in Venezuela

Chevron Corp., CEO Mike Wirth pledged to work closely with the U.S. to remain in Venezuela despite a spiraling crisis that has led rival oil major Total SA to retreat.

U.S. sanctions spark surge for Venezuelan crude in China

U.S. sanctions that have effectively blocked American imports of Venezuelan oil are leading to a crude-price surge thousands of miles away in China.

Venezuela oil czar courts India after $20 billion hit from U.S.

Venezuela’s oil minister made a surprise appearance at an energy event in India, as the embattled OPEC producer seeks closer ties with major crude customers in the face of crippling U.S. sanctions.

Two competing forces are setting the price of oil

As winter keeps its grip on the northern hemisphere it is the oil bulls, not the bears, who have gone into hibernation. The price rally that greeted the new year has fizzled out as renewed concerns about demand growth outweigh the tightening of oil supply through OPEC cuts and U.S. sanctions.

Venezuela oil sanctions working to pressure Maduro, Mnuchin says

Treasury Secretary Steven Mnuchin said U.S.-imposed oil sanctions are putting pressure on the embattled Venezuelan President Nicolas Maduro, who the U.S. is trying to oust.

OPEC's oil exports to U.S. fell to five-year low in January

Less foreign oil is reaching American shores, as OPEC production cuts kick in and U.S. sanctions on Venezuela curb its exports.

Tiny Guyana could soon pump more oil than OPEC member Venezuela

Guyana, a country that currently produces no crude, could pump more than OPEC member Venezuela in five years.

Guaido U.S. envoy vows to open oil deals, restructure debt

Venezuela’s government-in-waiting intends to scrap requirements that state-owned oil giant PDVSA keep a controlling stake in joint ventures as it seeks to revive the oil sector and encourage private investment, National Assembly leader Juan Guaido’s representative to the U.S. said.

U.S. oil refiners cut off from Venezuelan crude after sanctions

U.S. oil refiners won’t be allowed to complete shipments of Venezuelan crude they booked before the Trump administration slapped new sanctions on the nation.

U.S. sanctions put pressure on Rosneft’s Venezuelan investment

As U.S. sanctions against PDVSA ripple through the market, there’s one company with more at stake than most: its Russian counterpart, Rosneft.

How one of Venezuela's last oil buyers may react to sanctions

After the U.S. slapped sanctions on Venezuela’s state-owned PDVSA, which essentially add up to an oil ban, the market has focused on how the remaining buyers of the South American country’s heavy, low-quality crude will react.

Diluting Venezuela’s heavy crude just got harder

Venezuela's heavy crude cannot be exported without first being diluted. That will become more difficult following the latest U.S. sanctions on the country.

U.S. slaps de-facto ban on Venezuelan crude oil

The Trump administration dealt its toughest blow yet to the authoritarian Venezuelan leader Nicolas Maduro, issuing new sanctions on the nation’s state-owned oil company PDVSA that effectively block his regime from exporting crude to the U.S.