35 articles
A US appeals court ruled PDVSA bonds valid, permitting creditors to seek payment from the sale of Citgo Petroleum's parent. This judgment advances the auction of Venezuela's key overseas asset despite
Swiss engineering firm Sulzer has entered a five-year strategic alliance with Venezuela's state-owned oil company PDVSA to develop industrial infrastructure across its upstream, refining, and distribu
A Colombian-Venezuelan businessman faces US charges over alleged corruption involving $2 billion in government contracts for oil, food, and medicine. The transfer highlights intensified cooperation be
Venezuela aims to sign 105 oil contracts by year-end, targeting 1.5 million barrels per day production by 2027. PDVSA head Hector Obregon announced the plan amidst refinery restarts and US-backed inve
Pacific Coast Energy Co. has begun reactivating oil fields in Venezuela's Delta and Cabimas blocks, aiming to double production to 40,000 barrels per day within six months through agreements with stat
Venezuela's second-largest Cardon refinery halted operations after a fire damaged a unit linked to a leaking gas line. PDVSA did not immediately comment on the incident impacting the 310,000-barrel-pe
Baker Hughes signed agreements with PDVSA and partners to develop natural gas and LNG infrastructure in Venezuela, covering upstream to commercialization, subject to US sanctions and regulatory approv
Eneva SA calls for Venezuelan regulatory reform to monetize natural gas, seeking partnerships with PDVSA and Halliburton to develop projects in the Orinoco belt and mature fields.
Former Chevron executive Ali Moshiri claims Venezuela’s PDVSA is delaying his $2 billion investment proposal despite US policy support. Meanwhile, Chevron plans to double its Venezuelan output as Mosh
Italian oil major Eni signed a new agreement with Venezuela's PDVSA to develop the Junin 5 heavy oil project. The deal aims to recover over $2.3 billion in outstanding receivables while boosting produ
Grupo Gilinski and Geopark signed a 25-year agreement with Venezuela's PDVSA to jointly develop the Bare oilfield, marking another expansion by international oil companies in the region.
Legal advisers formed a committee to coordinate Venezuela's commercial creditors ahead of sovereign debt restructuring involving state oil company PDVSA. The initiative targets oilfield services and c
SLB signed a contract with Venezuela's PDVSA to modernize oilfield data using AI and digitization after years of neglect. The agreement aims to restore reliable statistics despite U.S. sanctions and p
U.S. Energy Under Secretary Kyle Haustveit reported that roughly half of Venezuela's oil production is now exported to U.S. refineries. PDVSA officials confirmed rising export volumes and fuel output
Venezuelan oil mogul Alejandro Betancourt facilitates US investment in Venezuela's energy sector under the Trump administration. He connects American firms with local assets despite ongoing legal cont
Eni targets rapid development of Venezuela's Junin 5 oilfield, projecting production growth from 12,000 to 200,000 barrels daily. Negotiations with PDVSA aim to finalize contracts under the country's
Venezuela's oil ministry urged partners of state firm PDVSA to finalize contract migrations by July 28 under a new legal framework. Major energy companies including Chevron, Repsol, and Eni are accele
Pacific Coast Energy Co. is nearing a deal to operate two Venezuelan oil fields with PDVSA ahead of a July 28 deadline. Smaller wildcatters are pushing to reinvigorate production faster than establish
U.S. and global refiners are bypassing trading houses to secure direct crude contracts with Venezuela's PDVSA as exports rise to 1.2 million barrels per day. This strategic shift aims to diversify des
Venezuela's interim government enacted regulations ending PDVSA's monopoly, allowing private sector participation in oil refining and distribution. The move seeks urgent investment as US sanctions eas
PDVSA hired Greenberg Traurig to expedite oil contract negotiations before an August regulatory deadline. The initiative aims to revive Venezuela's oil industry amid easing US sanctions and fluctuatin
Venezuela's PDVSA and Repsol signed an agreement to boost crude and gas production in northwestern Venezuela, aiming to add 20,000 barrels per day. The deal follows eased U.S. sanctions and plans to t
SLB signed a long-term agreement with Venezuela's PDVSA to modernize the oil and gas sector using AI and digital transformation. The deal aims to improve efficiency and rebuild production capacity aft
The Trump administration amended Venezuela licenses to facilitate investment in oil, petrochemicals, and mining by permitting recognition of local laws. These changes aim to resolve contractual bottle
Despite U.S.-backed reforms, global investors hesitate to enter Venezuela's oil, chemical, and pharmaceutical sectors due to legal uncertainty and infrastructure deficits. Detentions of PDVSA workers
Venezuela's new oil minister and PDVSA executive will attend a Houston energy summit, aiming to attract $100 billion in investments and discuss equipment needs for restoring the country's oil sector f
PDVSA released a draft contract to restart Venezuelan oil production, but arbitration terms clash with US sanctions while political risks and tax disputes complicate potential deals among energy firms
Venezuela has initiated a major sovereign debt restructuring process involving its state oil company PDVSA, targeting $60 billion in defaulted bonds while facing significant legal and financial obstac
Two ghost oil tankers are returning crude cargoes to Venezuela, signaling continued struggles for the nation's beleaguered oil industry amidst shifting sanctions. The vessels' movements contrast with
Venezuela launched a restructuring of its sovereign and state oil firm PDVSA debt, citing unsustainable obligations exceeding $150 billion. The move aims to secure relief from default burdens while li
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