HAVANA — A tanker carrying Russian fuel oil arrived in Cuba on Thursday, bringing supplies for the Caribbean nation’s sputtering power plants and giving Russia an outlet for products shunned by the West. The United States and Canada have imposed sanctions on Russian oil and fuel over its invasion of Ukraine, while Europe and the […]
Tag: Petróleos de Venezuela S.A. (PDVSA)
U.S. To Ease A Few Economic Sanctions Against Venezuela
CARACAS — The United States government is moving to ease a few economic sanctions on Venezuela in a gesture meant to encourage resumed negotiations between the U.S.-backed opposition and the government of President Nicolás Maduro. The limited changes will allow Chevron Corp. to negotiate its license with the state-owned oil company, PDVSA, but not to […]
United Arab Emirates Emerges As Hub For Companies Helping Venezuela Skirt U.S. Oil Sanctions, Report Says
ABU DHABI — In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s oil trade. Within weeks, a little-known company based in the United Arab Emirates took over management of several tankers that had been […]
What Is The Future Now for Venezuela? Opinion By David Jessop
It is hard to know what the future holds for Venezuela, its opposition leader Juan Guaidó, or the present U.S.-led policy that emphasizes sanctions and isolation. Last week, as was wholly predictable, President Maduro’s United Socialist Party of Venezuela, and allied parties, took 67 percent of seats in the National Assembly in an election not […]
Aruba To Form Committee To Decide Fate Of Idled Refinery: Prime Minister
ORANJESTAD — The government of Aruba said on Monday it will form an advisory committee to decide the future of a 209,000-barrel-per-day refinery that remains idled amid sanctions on operator Citgo Petroleum’s parent company, Petroleos de Venezuela (PDVSA). Prime Minister Evelyn Wever-Croes said there are three possible scenarios for the Aruba refinery: to continue working […]
UNITED STATES: We Have Enough World Oil To Avoid Caribbean Fuel Disruptions
WASHINGTON — There is enough oil supply in the global market to make up for potential fuel disruptions due to U.S. oil producer ConocoPhillips’ legal actions against Venezuelan state oil company PDVSA, a State Department spokesman said this week. “The U.S. Department of State remains in contact with our partners in the Caribbean to reduce […]
REUTERS: As Venezuelans Suffer, Maduro Buys Foreign Oil to Subsidize Cuba
CARACAS — Venezuela’s state-run oil firm Petróleos de Venezuela S.A. has bought nearly $440 million worth of foreign crude and shipped it directly to Cuba on friendly credit terms — and often at a loss, according to internal company documents reviewed by Reuters. The shipments are the first documented instances of the OPEC nation buying […]
Venezuela Brings Zerpa, Sanctioned by United States, Back to Faltering PDVSA
CARACAS — Venezuela’s government has named Simon Zerpa, who was sanctioned by the United States last year, as an external director of state oil company PDVSA while confirming General Manuel Quevedo as the firm’s president, the company said in a statement. Zerpa had been PDVSA finance vice president until February, but was removed from the […]
ConocoPhillips Has Seized Venezuela PDVSA Products From Isla refinery: Curacao
WILLEMSTAD — U.S. oil major ConocoPhillips has seized products belonging to Venezuelan state oil company from the Isla refinery it runs on Curacao, an island official told Reuters on Sunday. Conoco has won court orders allowing it to seize PDVSA assets on Caribbean islands, including Curacao, in efforts to collect on a $2 billion arbitral award […]
PDVSA Retrenches in Caribbean as ConocoPhillips Seizures Weigh On Its Operations
[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] WILLEMSTAD — Venezuela’s Petróleos de Venezuela, S.A. (PDVSA) will let the 335,000 barrel-per-day refinery it leases in Curacao halt operations once crude inventories are exhausted as no new shipments are planned to the Caribbean following ConocoPhillips’s legal actions, according to two sources. PDVSA is also changing its trade arrangements to […]