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Jan 9 (Reuters) - Exxon Mobil CEO Darren Woods said on Friday the U.S. oil major is ready to evaluate a potential return to Venezuela in what would be a stunning development after its assets in the South American country were nationalized nearly 20 years ago. Woods, however, said Venezuela was currently "uninvestable" and significant legal... Continue Reading →
Jan. 9 (Reuters) Oil major Chevron Corp, global trading houses Vitol and Trafigura, and other firms are competing for U.S. government deals to export crude oil from Venezuela, according to sources familiar with the matter. The competition reflects a desire by many in the oil industry to access the South American country's crude stocks and... 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 7 (Reuters) - Equinor does not plan a return to Venezuela, after leaving the country in the early part of this decade, the Norwegian oil and gas company's CEO told Reuters on Wednesday. "At the moment, that's not on the table," Anders Opedal said on the sidelines of a business conference. "We pulled out of... 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) - The Trump administration did not consult with oil companies Exxon Mobil, ConocoPhillips, or Chevron Corp about Venezuela before or after U.S. forces captured the South American country’s president Nicolas Maduro Jan. 3, according to four oil industry executives familiar with the matter. That contradicts President Donald Trump's assertion aboard Air Force One... 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. 19 (oilnow.gy) Guyana’s Vice President Bharrat Jagdeo said on Thursday that the United States has assured Georgetown it will support and protect the country’s territorial integrity, including American assets operating in Guyanese waters, amid heightened tensions between Washington and Caracas. During a press conference in Georgetown, Jagdeo responded to questions about the possibility of... 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 →
Brazil Energy Insight 