(Reuters) Venezuela and Trinidad and Tobago will continue negotiations on jointly developing a dormant offshore natural gas field, with a meeting scheduled for mid-June in Caracas, according to three sources familiar with the matter. Officials from both governments last met in March in Venezuela, where they signed confidentiality agreements required to set up a negotiation... Continue Reading →
(Reuters) - Venezuelan state energy company PDVSA's new management expects to boost the country's oil production to 1.17 million barrels per day (bpd) by year end while increasing refining and exploration activities, an internal planning document showed. Venezuela's monthly crude output in April surpassed 800,000 bpd for the first time since December 2021 following a... Continue Reading →
(Reuters) - Judges at the International Court of Justice (ICJ) on Thursday ruled they had jurisdiction over a long-running border dispute between Guyana and Venezuela, which could determine which country has rights to territory rich in oil and gas. Guyana in 2018 asked the ICJ, also known as the World Court, to confirm that the... Continue Reading →
(Reuters) - Venezuela's state-run oil company PDVSA has accumulated $21.2 billion in accounts receivable, according to documents viewed by Reuters, after turning to dozens of little known intermediaries three years ago to export its oil under U.S. sanctions. The internal disclosure of the enormous amount of unpaid sales - about 84% of PDVSA's total value... Continue Reading →
(Reuters) The U.S. government is not planning a systematic easing of sanctions on Venezuela after an initial round allowed partners of state-run oil firm PDVSA to resume taking oil for past debts, a State Department official said. In November, Washington issued a six-month license allowing Chevron Corp. to expand operations and export Venezuelan oil to... Continue Reading →
(Reuters) - A U.S. judge on Tuesday ordered Glencore Plc (GLEN.L) to pay $700 million in connection with its guilty plea over a decade-long scheme to bribe foreign officials across several countries. The sentence handed down by U.S. District Judge Lorna Schofield in Manhattan federal court consisted of a $428.5 million fine and $272 million in forfeiture,... Continue Reading →
(Reuters) Trinidad and Tobago next month expects to formally begin negotiations with Venezuela on a promising offshore natural gas project, the Caribbean nation's energy minister said on Thursday. A deal would help revive the nation's gas production, which contributes a large part of its export revenue and has been in decline. The joint venture could... Continue Reading →
(Reuters) Venezuela's PDVSA has allocated an oil cargo to a unit of Eni for a February loading, the first to the Italian firm following a contract suspension this year by new management at the state-run company, people familiar with the matter said. Eni and Spanish oil firm Repsol in May last year received authorizations from... Continue Reading →
(Reuters) Trinidad and Tobago's Prime Minister Keith Rowley on Friday told Parliament his government had been in touch with Venezuela following U.S. license to jointly develop a key gas field, and the first meetings to begin negotiations have been set up. The United States last week issued a two-year license allowing Trinidad to jointly develop... Continue Reading →
(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 →
