Tag Archives: Venezuela

Venezuela’s beleaguered oil export system is narrowing rapidly around Chevron as shipments to its largest traditional customer in China remain stalled amid an intensified U.S. oil embargo and mounting geopolitical upheaval. Shipping data as of January 6 shows crude loading for Chinese buyers at Venezuelan ports has been on hold …

Some of the biggest international oil trading houses, including Trafigura Group, will discuss with the U.S. Administration returning to oil trade with Venezuela, the global head of Trafigura’s oil division, Ben Luckock, told Bloomberg television in an interview on Tuesday. The capture of Nicolas Maduro opens the door to U.S. …

The United States will keep what it calls an oil quarantine on Venezuela even after U.S. forces bombed Caracas and captured President Nicolas Maduro. According to Secretary of State Marco Rubio, this quarantine is as far as the U.S. “running Venezuela” would go. “We continue with that quarantine, and we …

Venezuela has begun shutting wells that pump extra-heavy crude in the Orinoco Belt, as the U.S. blockade is squeezing shipments and filling up storage space, sources with knowledge of the plans of state oil firm PDVSA told Bloomberg. PDVSA, the key handler of Venezuela’s crude exports, mostly to China, began …

Oil prices rose slightly on Friday after the U.S. put greater economic pressure on Venezuelan oil shipments and carried out airstrikes against Islamic State militants in northwest Nigeria at the request of the government in Abuja. Brent crude futures rose 6 cents, or 0.1%, to $62.30 per barrel at 0456 …

The economics of shipping additional volumes of heavy crude from Iraq to compensate for a potential loss of Venezuela’s supply are just not there at present, Shafaq News reported on Friday, quoting Iraqi economist Nabil Al-Marsoumi. Concerns in the heavy crude market are that the U.S. blockade of tankers carrying …

A loss of Venezuelan oil production in case of a U.S. military intervention will materially impact global benchmark prices as the market will have to replace Venezuela’s heavy crude—the bulk of Caracas’ crude exports, according to Rystad Energy. Venezuela is estimated to pump about 1.1 million barrels per day (bpd) …

U.S.-Venezuela tensions are again rippling through energy and security markets, prompting President Donald Trump to rule out immediate military strikes while maintaining a buildup of American naval assets in the Caribbean. His comments followed reports of U.S. patrols and maritime interdictions targeting narcotics routes linked to Caracas, a campaign that …

Venezuela is betting on coal to jumpstart its resource economy and exports amid increasing sanctions on its oil industry with few exemptions in the form of waivers. At the end of 2024, a Venezuelan-Turkish joint venture restarted coal production at two mines in northwestern Venezuela – Paso Diablo and Mina …

Venezuela’s crude and fuel exports fell in July by some 10% from June to average 727,000 barrels per day (bpd), as Chevron and other partners of state oil firm PDVSA were waiting for U.S. authorizations to resume operations and exports that were prohibited in May. Venezuela also exported about 227,000 …