Venezuela
News
August 18, 2020
Four tankers whose cargoes were seized by the U.S. over the past month were heading to Venezuela with gasoline loaded in Iran, according to Iranian Oil Minister Bijan Namdar Zanganeh.
News
August 14, 2020
The U.S. seized four tankers carrying Iranian oil bound for Venezuela in violation of sanctions, the Justice Department announced.
News
August 12, 2020
The prospects for petrostates have dramatically shifted from just a decade ago. Oil prices were near $100 a barrel then and consumers were worried about supplies running out. Now, OPEC is increasingly having to reckon with the prospect of peak demand, when consumption starts to decline as wind and solar power become more popular.
News
July 03, 2020
Crude production in Venezuela tumbled for a sixth straight month in June, underscoring the dismal state of the nation’s oil industry as U.S. sanctions batter exports and the coronavirus pummels demand.
News
June 17, 2020
Officially, China hasn’t imported any Venezuelan crude since September after Washington sanctioned state entities including PDVSA. Information from data intelligence firm Kpler, however, signals the Asian nation is still buying, with as much as 3.3 MMbbl waiting off the Chinese coast as of June 15 and another 5 MMbbl en route to the port of Qingdao.
News
June 12, 2020
As fields across the nation shut amid a relentless U.S. campaign to cut Venezuela off from global oil markets, the number of rigs drilling for crude fell to just one in May, according to data from Baker Hughes. Another lone rig was drilling for gas.
News
June 09, 2020
The Trump administration is preparing sanctions on as many as 50 oil and fuel tankers as part of an effort to cut off trade between Iran and Venezuela, according to a person familiar with the matter.
News
May 06, 2020
From Nigeria to Venezuela and Iraq, petrostates are facing the same challenge -- maintaining their economies while their prized commodity is worth a much less than it was, and where private companies often still want their cut.
News
April 29, 2020
New leadership at Petroleos de Venezuela SA is considering a major overhaul that could see the company streamlining its oil business and even forsaking decades of state monopoly, according to people familiar with the matter.
News
April 22, 2020
Chevron will be forced to effectively wind down its operations in Venezuela, dealing the Maduro regime’s crumbling oil industry another blow as U.S. President Donald Trump maneuvers for regime change in the Latin American nation.
News
March 27, 2020
Russian oil giant Rosneft PJSC sold its assets in Venezuela to the Russian government, in what may be a maneuver to avoid any U.S. sanctions in an escalating fight between Caracas, Washington and Moscow.
News
March 26, 2020
High inventories of oil and low prices are forcing Venezuela to consider shutting wells, adding a dire context for Nicolas Maduro’s handling of an economy already under stress from the coronavirus crisis.
News
March 12, 2020
TNK Trading International SA, a Geneva-based Rosneft subsidiary, was sanctioned for helping transport Venezuelan crude oil, the Treasury Department said Thursday in a statement.
News
February 28, 2020
Venezuela’s President Nicolas Maduro named new executives at PDVSA, a week after declaring an “energy emergency” and appointing a commission to revamp the state oil company.
News
February 27, 2020
The Trump administration is ready to unleash the full impact of sanctions on Chevron Corp.’s operations in Venezuela as the U.S. seeks to further squeeze the Maduro regime.
News
February 24, 2020
There are already signs that the latest U.S. sanctions thrown at Venezuela are failing.
News
February 20, 2020
Venezuela’s President Nicolas Maduro declared an “energy emergency” as he announced a commission to revamp state oil company Petroleos de Venezuela SA, redoubling efforts to shore up the nation’s crumbling oil industry.
News
February 19, 2020
Rosneft Trading, the main exporter of Venezuelan crude, was targeted by the U.S. for helping to sell the commodity that bankrolls Maduro.
News
February 18, 2020
The U.S. sanctioned a unit of Russia’s largest oil producer Rosneft PJSC for maintaining ties with Venezuela’s Nicolas Maduro and state-run oil company PDVSA.
News
February 11, 2020
Chevron has ramped up output at a key Venezuela oil project to levels not seen in almost a year, offering a thorny reminder of how U.S. sanctions are failing to deliver a knockout of Nicolas Maduro’s regime.
News
February 06, 2020
The U.S. is weighing whether to sanction Russia’s biggest oil producer, Rosneft PJSC, for maintaining ties with Venezuela’s Nicolas Maduro, though American officials are wary that the move could cause chaos in global oil markets, according to people familiar with the matter.
