The Daily Journal. — U.S. corporations White Hilt Capital and Sunergon Oil Operating have formed a strategic alliance to support the development, production, and export of oil and gas in Venezuela’s Orinoco Oil Belt. Alejandro Terán Martínez, president of the Latin American Association of Oil Professionals of Texas (ALEP) and chief executive officer of Sunergon, […]
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The Daily Journal — Petróleos de Venezuela S.A. (Pdvsa) and Spanish energy corporation Repsol signed a new Memorandum of Understanding on oil and gas cooperation this Tuesday at Miraflores Palace in Caracas. According to official information, the agreement seeks to drive a large-scale revival of Venezuela’s hydrocarbon industry. Officials finalized the deal during a high-level […]
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The debate over formal dollarization in Venezuela continues to divide public opinion as the country struggles with exchange-rate instability and the constant erosion of purchasing power. Economist Manuel Sutherland examines the issue critically, weighing the benefits and costs of abandoning the national currency. Neirlay Andrade The grassroots demand: Why do labor unions want the dollar? […]
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The Daily Journal — The strategic agreement signed Monday between the Venezuelan government and General Electric will add 1,000 megawatts to the National Electric System (SEN) within two years and more than 5,000 megawatts over the next four years, President Delcy Rodríguez said. Roger Martella, Chief Corporate Officer of General Electric Vernova, stated that the […]
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The Daily Journal — ONGC Videsh Ltd. (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corporation, is developing a strategic plan to resume its crude oil production activities in Venezuela. The company continues to move forward with the initiative even though the Venezuelan State still owes more than $900 million in overdue […]
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The Daily Journal — The governments of Colombia and Venezuela are moving forward with the reactivation of their binational power interconnection through a project in the Vichada border region. The initiative aims to expand electricity coverage, strengthen energy security, and revive cooperation in energy infrastructure between the two countries. Colombia’s Minister of Mines and Energy, […]
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The Daily Journal — British energy company Shell has received authorization to extract natural gas from the Loran field, located in Venezuelan territorial waters, and export it directly to Trinidad and Tobago for processing. Trinidadian Energy Minister Roodal Moonilal announced the development before a parliamentary committee, following the signing of a production agreement last week […]
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The Daily Journal — The United States has restructured its sanctions regime on Venezuela by issuing four new general licenses that expand operating opportunities for U.S. and allied companies in the country’s oil, petrochemical, natural gas, and electricity sectors under a framework of financial oversight and geopolitical restrictions. The U.S. Department of the Treasury’s Office […]
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The Daily Journal — U.S. corporations may now supply goods, technology, software, and services to Venezuela’s mining industry under General License No. 54A issued by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). The measure took effect on June 10, 2026, under the signature of Director Bradley T. Smith. It amends […]
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The Daily Journal — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued General License No. 50B. This measure selectively authorizes six major global energy corporations and their subsidiaries to maintain and conduct oil and gas operations in Venezuela. OFAC Director Bradley T. Smith signed the regulatory instrument, which took […]
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