Tag Archives: Venezuela

A National Assembly-proposed bankruptcy law shows the depths of the challenges PDVSA faces.

China has decided to invest &.25 million to help slow the decline underway in Venezuela.

These funds will allow Venezuela to upgrade the development of its key industry.

Caracas will support those OPEC + decisions that will lead to an acceptable oil price for all producers.

Most of the shortfall has come from Venezuela. where an economic crisis has savaged the nation’s petroleum production.

OPEC members. including Saudi Arabia. and other oil producers will meet in Vienna this week.

IEA forecasts that Venezuela’s oil production could drop to Just 800.000 bpd or even lower next year.

Saudi Arabia has enjoyed diplomatic ties with the US for decades.

Crude oil production in Venezuela is practically falling at an average of 10% every quarter and has been since mid-2017.

The delivery method entails specialized equipment and training and higher costs for ship owners and customers.