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

[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] 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

[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] 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

[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] 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

WARNING SIGNS: A warning sign stands at the entrance of the PDVSA/BOPEC Brasil Terminal in Rincon Bonaire on the Caribbean Netherlands island of Bonaire, Monday, May 7, 2018, where Venezuela refines and stores its heavy crude. U.S. oil giant ConocoPhillips is pressing for control of Venezuela’s key offshore operations in

[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

[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] CARACAS — Venezuela’s state-run oil company PDVSA suspended oil storage and shipping from its Caribbean facilities following a move by ConocoPhillips to temporarily seize the firm’s assets on four islands, according to a PDVSA source and Reuters data. PDVSA has begun concentrating most shipping in

[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] CARACAS — U.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three sources familiar with its actions. The U.S. firm

[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] WILLEMSTAD — The government of Curacao said it has scrapped a preliminary agreement with Guangdong Zhenrong Energy to operate the island’s aging La Isla refinery, saying the Chinese firm misrepresented itself and was unable to take on such a large endeavor. The two sides signed a

[ad name=”HTML-68″] [wpedon id=”23995″ align=”left”] KRALENDIJK — Venezuela’s Petróleos de Venezuela, S.A (PDVSA) could lose its license to operate an oil storage terminal it owns on the Dutch island of Bonaire if it does not soon fulfill maintenance demands by regulators, a government spokeswoman said this week. The terminal is a