Tag Archives: Venezuela

Venezuela’s oil shipments plummeted in August by 38% compared to the three-year high reached in July as state oil firm PDVSA was unable to maintain production at the upgraders that convert the extra heavy oil into grades suitable for shipping, Reuters reported on Monday, quoting PDVSA internal documents and tanker-tracking …

Venezuela’s state oil company PDVSA has got new management that plans to boost production of crude to 1.17 million barrels daily by the end of the year, Reuters has reported, citing an internal document. As of April, PDVSA was producing over 800,000 bpd – the first time it had topped …

Venezuela has signed an agreement with European energy giants Eni and Repsol that allows for the export of natural gas liquids -or condensates- to other markets, according to Pedro Tellechea, the country’s oil minister and Petroleos de Venezuela head. The deal comes after years of discussions with Italy’s Eni and …

According to the 2022 BP Statistical Review of World Energy, Venezuela has more proved oil reserves than any other country in the world. Venezuela’s 304 billion barrels of proved reserves just edges out Saudi Arabia’s 298 billion barrels. Both are far ahead of U.S. proved reserves of 69 billion barrels. …

The United States is on track to receive nearly 3 million barrels of crude oil from Venezuela this month, according to shipping documents seen by Reuters. Chevron is on track to ship 100,000 barrels of Venezuelan crude oil per day into the United States as part of a license it …

Venezuela is making the most of the global oil shortage, in the wake of the Russian invasion of Ukraine, as the U.S. was forced to make certain concessions on its sanctions on Venezuelan crude to boost its energy security. Oil major Chevron has recommenced operations in Venezuela, and several other …

Venezuela’s state oil firm PDVSA is tightening terms for buyers after a monthlong halt to most exports of crude and fuel, demanding prepayment ahead of loadings in either cash, goods or services, company documents showed. PDVSA’s new Chief Executive Pedro Tellechea put the move in place this month. It reinforces …

U.S. oil company Chevron Corp is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years, according to a person familiar with the matter and shipping data. On Friday, a Chevron-chartered vessel approached the South …

U.S. oil company Chevron has a tanker on the way to sanctioned Venezuela, where it will pick up a load of crude oil destined for the United States. The crude cargo will be the first Venezuelan crude oil shipment to arrive in the United States in almost four years, according …

Media sources on Tuesday reported that an Iranian tanker carrying about 2 million barrels of ultra-light oil arrived this week in Venezuelan waters. Venezuela and Iran, both under United States sanctions, have recently expanded cooperation mainly through a swap that provides Venezuela’s state-run oil company PDVSA with light oil for …