(Reuters) The Biden administration has granted a license to Trinidad and Tobago to develop a major gas field located in Venezuelan territorial waters, U.S. and Trinidad officials said on Tuesday, marking a further easing of some sanctions on Venezuela. The license, issued by the U.S. Treasury Department at Trinidad's request and intended to enhance Caribbean... Continue Reading →
(Reuters) - Venezuelan President Nicolas Maduro on Friday named Pedro Rafael Tellechea as the new head of state oil company Petroleos de Venezuela (PDVSA) (PDVSA.UL) and said Yvan Gil Pinto would become the new foreign minister. Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its Asia market despite assistance... Continue Reading →
(Reuters) - U.S. oil producer Chevron Corp (CVX.N) plans to export this month its first cargo of Venezuelan crude to its Pascagoula, Mississippi refinery following a U.S. license granted last year, according to shipping documents seen by Reuters on Tuesday. The 500,000-barrel cargo of Hamaca heavy crude, to be loaded at state-run PDVSA's Jose port, comes from... Continue Reading →
(Reuters) - U.S. oil company Chevron Corp (CVX.N) is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years, according to a person familiar with the matter and shipping data. On Friday, a Chevron-chartered vessel approached the South American country's waters to... Continue Reading →
(Reuters) - The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year. Sales of U.S. crude to other nations are now a record 3.4 million barrels per day (bpd), with exports of about... Continue Reading →
(Reuters) - Venezuelan officials and executives from U.S. oil company Chevron Corp (CVX.N) held a private meeting on Wednesday at one of their joint ventures to discuss operations and management, but workers were left out, three sources close to the matter said. In November, the U.S. Treasury Department issued a license to Chevron to expand operations in... Continue Reading →
(Reuters Breakingviews) - U.S. President Joe Biden is open to Venezuelan oil. Over the weekend, the Treasury Department issued $355 billion oil giant Chevron (CVX.N) a license to resume limited production in the country. That helps to spread around extraction of the fossil fuel, and could ease prices on the margin. But between the dirty Venezuelan oil and... Continue Reading →
(Reuters) - Chevron Corp could win U.S. approval to vastly expand operations in Venezuela as soon as Saturday once the Venezuelan government and its opposition resume political talks, three people familiar with the matter said on Wednesday. A U.S. authorization for Chevron to help rebuild the country's sagging oil production was one of the biggest... Continue Reading →
(Reuters) Venezuela told judges at the International Court of Justice (ICJ) on Thursday that they should throw out a case filed by Guyana in a long-running border dispute, which could determine which country has rights to offshore oil and gas fields. Guyana brought a case in 2018 asking the court to confirm the border was... Continue Reading →
(Reuters) - Venezuela is allowing partners in state oil company PDVSA's joint ventures to leave - by selling their shares to others or returning them - so long as they forgo payment for past debts and unpaid dividends, four people close to the matter said. Having to take a loss or relinquish unpaid debt has... Continue Reading →
