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Jan 28 (Reuters) - A dozen House Democrats on Wednesday sent a letter to 21 companies who attended a Jan. 9 White House meeting about developing Venezuelan oil resources, warning them that any transaction or investment they make there faces legal and financial risks. The letter, led by Democratic Congressman Sean Casten, said despite any... Continue Reading →
Jan. 28 (Reuters) U.S. officials are working to issue a general license soon that would lift some sanctions on Venezuela's energy sector, four sources familiar with the preparation said on Tuesday, a shift from a previous plan to grant individual exemptions to sanctions for companies seeking to do business in the country. Following the U.S.... Continue Reading →
Jan 16 (Reuters) - Oil executives and lawyers for international oil companies are lobbying the U.S. and Venezuelan governments for changes in the OPEC member's hydrocarbon law that would give them the right to freely export the oil they produce in Venezuela, sources involved in the talks said. As the administration of U.S. President Donald... Continue Reading →
Jan 6 (Reuters) - Caracas and Washington have reached a deal to export up to $2 billion worth of Venezuelan crude to the United States, U.S. President Donald Trump said on Tuesday, a flagship negotiation that would divert supplies from China while helping Venezuela avoid deeper oil production cuts. The agreement is a strong sign that the Venezuelan government... Continue Reading →
Jan. 6 (Reuters) U.S. President Donald Trump is giving U.S. energy companies the opportunity to revive Venezuela’s massive, derelict oil industry. It’s an offer they may want to refuse. After the U.S. military’s ouster of Venezuelan President Nicolas Maduro at the weekend, representatives of the Trump administration plan to meet with oil executives later this... Continue Reading →
Jan 5 (Reuters) - Here are key facts about international oil companies in Venezuela, a country with the world's largest oil reserves thrown into crisis by the capture of President Nicolas Maduro by U.S. forces. In the 2000s, former President Hugo Chávez expropriated assets from several foreign oil companies, strengthening state-owned PDVSA’s control over the country's oilfields. Today, foreign... Continue Reading →
Jan 3 (Reuters) - Venezuela is unlikely to see any meaningful boost to crude output for years even if U.S. oil majors do invest the billions of dollars in the country that President Donald Trump promised just hours following Nicolás Maduro's capture by U.S. forces. The South American country may have the world's largest estimated oil reserves,... Continue Reading →
Dec 31 (Reuters) - Indian Oil Corp purchased its first Colombian oil under an optional supply deal with state oil company Ecopetrol, two people familiar with the matter said, as India's top refiner seek to diversify from Russian oil. Indian refiners are scouting for crude as tighter U.S. and European Union sanctions on Moscow's producers and... Continue Reading →
Dec. 17 (Reuters) U.S. President Donald Trump ordered on Tuesday a "blockade" of all sanctioned oil tankers entering and leaving Venezuela, in Washington's latest move to increase pressure on Nicolas Maduro's government, targeting its main source of income. It is unclear how Trump will impose the move against the sanctioned vessels, and whether he will... Continue Reading →
Dec 9 (Reuters) - Russia's Lukoil has until December 13 to negotiate the sale of the bulk of its international assets after the U.S. imposed sanctions on the company and rejected its initial buyer, Swiss commodity trader Gunvor. Lukoil's international assets, spanning upstream oil and gas projects, refining, and more than 2,000 filling stations across Europe, Central Asia, the Middle... Continue Reading →
Brazil Energy Insight 