Venezuela

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
December 08, 2021
Amid the rusted remnants of Venezuela’s once-mighty oil industry, a motley crew of obscure drillers has achieved a feat few thought possible: It’s more than doubled the country’s crude production in the space of a year.
News
October 18, 2021
Venezuela intelligence police have transferred the six Citgo Petroleum Corp. executives who where under house arrest to its headquarters, lawyers for the men said.
News
July 29, 2021
French oil company TotalEnergies SE and Norway’s Equinor ASA are exiting a key venture in Venezuela, adding to an exodus of foreign firms in recent years as the country’s energy industry has withered.
News
July 22, 2021
Venezuela’s state-owned oil company imported a key component needed to achieve its goal of almost tripling crude production, defying U.S. efforts to isolate the Maduro regime’s grip on power.
News
June 21, 2021
“They blocked us, they sanctioned us, they stole all our foreign assets,” said Venezuelan oil minister Tareck El Aissami. “Without any financing, with our own money, we’ve been able to invest enough to stop the slide and start a gradual recovery.”
News
June 21, 2021
President Joe Biden’s administration rejected Nicolas Maduro’s call for relief from U.S. sanctions, saying the Venezuelan leader needs to do more toward restoring democracy before penalties would be lifted.
News
June 01, 2021
Chevron and top American oil-service companies won an extension to keep a limited presence in Venezuela despite U.S. sanctions intended to starve President Nicolas Maduro’s regime of petrodollars.
News
May 02, 2021
Six senior executives of Citgo Petroleum Corp. who have been detained by the Venezuelan government since 2017 were transferred from prison to house arrest, according to a person familiar with the matter.
News
March 19, 2021
Venezuelan president Nicolas Maduro is keen to enlist American and European oil companies to help bring an end to U.S. sanctions – and with investment opportunities in the world’s largest oil and gas reserves as leverage, his plan appears to be working.
News
March 02, 2021
In mid-January the U.S. blacklisted Maltese trading company Elemento Limited and Geneva-based Swissoil Trading SA for facilitating Maduro’s attempts to circumvent 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.
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