Tag Archives: Venezuela

Due to the crisis and inability to afford cash for production maintenance. Venezuela is—unwillingly—overcomplying with its share of the OPEC cuts.

Venezuela. home to the largest oil reserves in the world. saw its crude output plummeting throughout the year as its national oil company struggled.

Venezuela’s oil production has fallen to levels not seeing since the late-1980s.

The government appears to be hoping the petro will offset a collapse in Venezuela’s currency.

Venezuelan crude exports to the U.S. fell last month to their lowest levels since January 2003.

Venezuela is ordering its embassies around the world to renegotiate rents at their diplomatic missions.

Maduro affirmed that the year 2018 will be a break from the oil model towards other economic sectors.

The reforms. however. must not affect daily oil production in any negative way.

PVDSA'.s bonds represent 30 percent of Venezuela'.s external debt -- estimated to be around $150 billion.

Venezuela injects most of the natural gas it produces back into oilfields to help maintain pressure and crude output.