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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 13 - Petrobras' president, Magda Chambriard, stated that the state-owned company will send delegations from the refining and oil exploration and production areas to Mexico to assess potential business opportunities in partnership with the state-owned Pemex. The new visit of Petrobras representatives to Mexico occurs a few weeks after Chambriard visited the country last... 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 4 (Reuters) Guyana has asked judges at the International Court of Justice to rule that Venezuela does not have a legitimate claim on the potentially oil-rich region around the Esequibo river, which has been the subject of a dispute between the Latin American neighbours since colonial days. "Facing a larger and more powerful neighbour's designs... 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 29 (OE) Italy’s Eni has signed an agreement with Venezuela’s Ministry of Hydrocarbons and state oil company PDVSA to relaunch oil activities at the Junin-5 project in the Orinoco Belt. The agreement was signed following a meeting in Caracas between Eni Chief Executive Claudio Descalzi and Acting President Delcy Rodriguez. Junin-5 is a heavy... 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 22 (oilprice.com) U.S. intervention in Venezuela, with illegitimate President Nicolas Maduro snatched in a daring January 2026 night raid, opened the country's oil industry to foreign investment. While President Donald Trump is aggressively pushing for Big Oil to invest in Venezuela, energy majors are taking a more sober approach. Venezuela's heavily corroded oil infrastructure, responsible for a nationwide... 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 →
Brazil Energy Insight 