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May 20 (oilnow.gy) Trinidad and Tobago will negotiate the commercial terms for cross-border natural gas projects with Venezuela in what officials say must serve the country’s national interest, as policymakers seek to ease tightening domestic gas supply, according to a May 18 Energy Chamber of Trinidad and Tobago report. Finance Minister Davendranath Tancoo told Parliament recently... Continue Reading →
May 13 (Reuters) - Venezuela on Wednesday launched a restructuring of its sovereign debt and that of state oil firm PDVSA, lifting bond prices, as it seeks relief from what it called unsustainable obligations. In a statement, the government said the “comprehensive and orderly” overhaul would cover both sovereign debt and that of PDVSA and... Continue Reading →
May 4 (Reuters) - When potential providers and financiers for Venezuela's electric industry, including Siemens Energy and GE Vernova, held meetings with officials in Caracas in April, questions of how they might get paid to shore up the country's deteriorated grid were top of mind, two sources involved in the talks said. Those executives came away... Continue Reading →
May 1 (Reuters) - Venezuela's oil exports rose 14% to 1.23 million barrels per day in April, the highest in more than seven years, fueled by more sales to the United States, India and Europe, shipping data and documents from state company PDVSA showed on Friday. The South American country has been draining oil inventories... Continue Reading →
April 27 (Reuters) - Oilfield service companies that for years kept rigs and specialized equipment stored in Venezuela have begun removing them from warehouses for assembly and repair as the government advances a review of oil and gas contracts that could lead to fresh activity, four sources involved in the preparations said. Since a sweeping reform of... Continue Reading →
April 16 (Reuters) - Spanish energy group Repsol has reached an agreement with the Venezuelan government and state energy firm PDVSA to take back operational control of its Venezuelan oil assets and boost production, the company said on Thursday. The agreement includes plans to triple production from its Venezuelan oil operations within three years and guarantee... Continue Reading →
April 14 (Reuters) - Venezuela's interim President Delcy Rodriguez on Tuesday called again for U.S. sanctions on the South American country to be removed and said the licenses Washington has been issuing to authorize transactions in the industry do not provide long-term legal security. Rodriguez, who met U.S. Assistant Secretary of Energy Kyle Haustveit on... Continue Reading →
April 10 (Reuters) ConocoPhillips said on Thursday it is sending a small evaluation team to Venezuela this week to evaluate oil and gas opportunities. The U.S. oil producer left the South American country in 2007 after its assets there were nationalized. The company is owed about $12 billion with interest following arbitration awards stemming from... Continue Reading →
April 1 (Reuters) - Shell is in advanced talks with Venezuela's government to develop four large areas near Trinidad and Tobago, in two of the South American country's largest offshore natural gas fields, two people familiar with the discussions said. The London-based energy major has been trying for years to advance the 4.2-trillion-cubic-feet Dragon gas field... Continue Reading →
March 24 (Reuters) - Venezuela opposition leader Maria Corina Machado told Reuters on Tuesday that early interest in Venezuela's oil sector is positive but she called for more transparency and contract security, including a new oil law, to further increase crude and gas output in the South American country. In January, Venezuela's National Assembly approved... Continue Reading →
Brazil Energy Insight 