Exports fell to 1.08 million barrels per day in September The Daily Journal.- Venezuela’s oil exports fell nearly 9% in September to 1.08 million barrels per day, down from 1.19 million barrels per day the previous month. According to Reuters, rising maritime freight costs and traders’ demands for steeper discounts weighed on the country’s shipments. […]
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They warned that the power system represents the biggest obstacle, with a deficit of more than 1,500 MW and prolonged blackouts The Daily Journal.- Executives from major international oil companies warned this week that Venezuela’s power supply represents the biggest obstacle to their projects, citing a deficit of more than 1,500 megawatts (MW) and blackouts […]
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The Daily Journal. — The international oil industry is once again turning its attention to Venezuela, with an agenda focused on new investment opportunities, particularly in the natural gas sector, as environmental commitments and the cleanup of longstanding environmental liabilities emerge as major challenges for the energy industry. Some 650 delegates from 30 countries are […]
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Julio A. López.— Venezuela could increase its oil production to approximately 2.58 million barrels per day (b/d) by 2035 under a growth scenario that combines the recovery of existing fields with the development of new projects in the Orinoco Belt, according to a new projection by Rystad Energy. The energy intelligence firm estimates a trajectory […]
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The acting president told the UN General Assembly that the territorial dispute should be resolved through bilateral negotiations under the Geneva Agreement. The Daily Journal.- Venezuela’s acting president, Delcy Rodríguez, reaffirmed Caracas’ claims to the Essequibo region before the 81st United Nations General Assembly on Wednesday and called on the government of Guyana to resume […]
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Julio A. López, Editor-in-Chief. Veteran oil executive Ali Moshiri said he has not signed any memorandum of understanding (MOU) with the Venezuelan government. “The information published by Bloomberg is incorrect,” Moshiri told this publication. The clarification comes just hours after Bloomberg published a report claiming that Moshiri’s team in Caracas had already signed a memorandum […]
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Andrés Ramón Giuseppe Ávalo In conventional economic analysis, Venezuela and Ireland rarely appear in the same conversation. One is a European technology and pharmaceutical hub; the other is a Caribbean oil-producing nation recovering after years of acute economic collapse and severe international sanctions. Yet beneath their profound geographical and institutional differences lies a shared structural […]
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The Daily Journal.- North American Blue Energy Partners (NABEP), the oil company backed by the Donald Trump administration to develop oil fields in Venezuela, expects to increase its crude production to 500,000 barrels per day (bpd) by the end of 2028, more than double the approximately 200,000 bpd it currently produces, according to a Bloomberg […]
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The Daily Journal.— U.S. energy corporation Chevron will significantly expand its operating capacity in Venezuela by “more than doubling” the number of active drilling rigs as part of its five-year production plan, the company’s Chief Financial Officer Eimear Bonner said during a conference organized by Barclays. The deployment of new equipment supports the investment program […]
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The mechanism means that Venezuela, “an impoverished country, is subsidizing a rich country like the United States,” the economist said Neirlay Andrade.— Venezuela could face a fiscal sacrifice of around US$6 billion under the terms of the new oil agreement with the United States, according to an estimate presented Tuesday by economist José Guerra, who […]
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