Venezuela ///

Reliance rebukes reports of inappropriate payments for Venezuela oil

Claims of Reliance Industries Ltd.'s purchases of crude oil from Venezuela’s state-owned oil company, PDVSA, for payment in cash to third parties are false, according to the company.

Venezuela, Cuba-allied companies sanctioned by U.S. for 2019 oil shipments

The companies -- linked to the delivery of oil during February and March aboard the tanker Despina Andrianna -- are Ballito Bay Shipping Inc., based in Monrovia, Liberia and ProPer In Management Inc., based in Piraeus, Athens, the U.S. Treasury Department said in a statement.

Crude has surged >35% in 2018 as OPEC+ limit output

West Texas Intermediate futures were little changed, poised for a fifth weekly increase. OPEC cut production for a fourth month in March, while supply risks are mounting in member nations exempt from the strategy.

Venezuela's oil production drops by half during blackouts

Rolling blackouts across much of the country that started on March 7 paralyzed most of the country’s oil wells and rigs, which have slowly come back online.

Venezuelan crude shipments dead in the water on U.S. sanctions

Venezuela’s exports to the U.S. hit zero last week after American sanctions on PDVSA.

Venezuela's "badly broken" oil sector needs outside help

Venezuela’s opposition leader is rolling out the welcome mat to foreign investors who want a piece of the world’s largest oil reserves.

Perry sees Venezuelan oil output dropping until regime changes

U.S. Energy Secretary Rick Perry said the decline of oil output from Venezuela will continue until there’s a change of leadership.

Maduro gets oil lifeline from Russia after U.S. sanctions hit

Just as Venezuelan state-run oil company PDVSA was running out of an obscure product needed to thin out its crude and keep exports flowing in the wake of U.S. sanctions, Russia is coming to the rescue.

U.S. sanctions on Venezuela are a blessing to Colombian oil

U.S. Gulf refiners are bidding up prices for Colombian crude amid sanctions on Venezuelan imports, historically one of America’s top oil suppliers.

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.