Tag Archives: Venezuela

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 …

Chevron will officially assume control of an oil project in Venezuela this week, Bloomberg has reported, citing unnamed sources. The supermajor will process heavy crude at the Petropiar facility, called an upgrader, and then export it to refiners on the U.S. Gulf Coast after the Treasury Department granted Chevron an …

Venezuelan President Nicolas Maduro said Wednesday that licenses and authorizations granted so far by the US to ease sanctions it imposed on Venezuela are “headed in the right direction” but are “not enough.” The easing of the oil embargo by the US government “undoubtedly goes in the right direction, although …

The United States on Saturday allowed the country’s oil giant Chevron Corp. to resume “limited” extraction of natural resources in Venezuela and to export Venezuelan oil, after the Venezuelan government and the opposition alliance reached a deal to break the political stalemate. Chevron received a six-month license that authorizes the …