Tag Archives: Venezuela

Venezuela hasn’t waited long to replace Western service providers in its oil industry after the U.S. sanctions, and has signed at least nine agreements with foreign firms, including from China, sources with knowledge of the deals told Bloomberg. Under the U.S. sanctions, Western oil producers were given time until May …

Venezuela’s state-run oil firm PDVSA is taking over crude shipments once managed by Chevron as sanctions drama and payment disputes derail the fragile oil détente between Washington and Caracas. PDVSA just shipped a 920,000-barrel cargo of heavy Boscan crude—previously exported exclusively by Chevron—out of Venezuela bound for Malaysia, a known …

It is 3 April, so any country buying Venezuelan oil must face a 25% tariff on all its trade with the United States. That is according to President Donald Trump’s executive order signed on 24 March. The White House has also ordered companies with sanctions waivers to quit Venezuela by …

Griselda Ascanio keeps an improvised wood-burning stove ready in her backyard in Maracay, 120 kilometers (75 miles) from Venezuela’s capital, for the frequent gas-supply interruptions that make it difficult to cook. “We cannot just cry about it,” said the 44-year-old administrator, who collects branches that fall from trees. “So we …

With Venezuelan oil sanctions set to be reimposed and state-run PDVSA oil company buyers and suppliers under orders to close out transactions in line with sanctions by the end of May, the country is now working to shift its oil sales to digital currency. Using Tether, pegged to the U.S. …

PetroChina is welcoming this weekend a cargo of Venezuela’s Merey crude for use at a new huge refinery after the U.S. eased sanctions on Venezuelan oil exports a few months ago. A cargo of Merey is due to arrive in China for the state Chinese energy giant on Saturday, according …

Venezuela is sending troops to its border with Guyana in an escalation of tensions over Guyana’s recent oil boom, according to reports citing satellite images and videos posted by Venezuela’s military. Venezuela is attempting to annex an area known as Essequibo, in which Venezuela’s President Nicolas Maduro in December said …

The recent easing of sanctions between the United States and Venezuela, marked by pivotal legal settlements and new commercial arrangements, represents a significant turning point for the global energy industry. These developments, particularly the resolution of disputes involving Petróleos de Venezuela S.A. (PDVSA), signal the reinvigoration of Venezuela’s oil and …

India is resuming imports of crude oil from Venezuela for the first purchases since 2020 as the U.S. lifted most of the sanctions on Venezuela’s oil industry in October. The easing of the sanctions now allows the production, lifting, sale, and exportation of oil or gas from Venezuela, and the …

The United States has eased its sanctions on Venezuela following an election deal. This follows four years of sanctions on its oil and gas industry, restricting the South American oil giant’s production and export levels. Despite the tough restrictions on the country’s energy industry, Venezuela continued to produce and export …