The Daily Journal.- Spanish energy company Repsol continues to produce around 580 million cubic feet of natural gas per day from the Cardón IV field, which it operates alongside Italy’s Eni in Venezuela, a company source said Wednesday during the Venezuela International Oil and Gas Summit. Production has remained unchanged since March, when the government […]
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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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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 Daily Journal. — The Venezuelan government confirmed that hydrocarbon agreements with Chinese and Russian state-owned and private companies will remain in effect. It rejected claims that the recent energy deal with the United States would exclude capital from either country from oil extraction projects in Venezuela. Hydrocarbons Minister Paula Henao outlined the government’s official […]
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The Trump administration is reversing, through forceful actions and aggressive diplomacy, what President Chávez painstakingly built, and Nicolás Maduro later sought to deepen. José Gregorio Yépez The signing of Venezuela’s oil agreements with the multinational companies that attended the meeting at Miraflores, with the approval of U.S. Energy Secretary Chris Wright, marks one of the […]
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The Daily Journal.— The Donald Trump administration expects new investments and energy agreements between the United States and Venezuela to double Venezuelan oil production in less than five years, according to a U.S. Department of Energy fact sheet released Friday by the U.S. Embassy in Caracas. The document presents agreements signed this week with companies […]
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The Daily Journal. — Venezuelan company Primavera Infinita signed a Production Participation Contract with Petróleos de Venezuela (PDVSA) on Wednesday to develop the Budare-Elotes block, located between Anzoátegui and Monagas states, as part of a new round of agreements aimed at adding new areas to the country’s oil production portfolio. The parties signed the agreement […]
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A day earlier, Beijing demanded respect for its energy agreements with Venezuela The Daily Journal.- U.S. Energy Secretary Chris Wright said China will have no rights to collect revenue from Venezuela’s new oil production as efforts move forward to restructure the Caribbean country’s massive debt. In an interview with Bloomberg Television from Caracas, the U.S. […]
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The Daily Journal.— During U.S. Energy Secretary Chris Wright’s visit to Caracas, the Venezuelan government formalized new agreements for the hydrocarbons sector on Wednesday at a meeting with a Washington delegation at Miraflores Palace. The agreements include expanded participation by U.S.-based Chevron and Italy’s Eni in joint ventures operating in the Orinoco Oil Belt. Earlier […]
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CARACAS — Venezuela’s acting president, Delcy Rodríguez, said Saturday night that the energy agreement with the United States calls for the development of 17 strategic oil fields and aims to reach production of more than 1.5 million barrels per day over its 25-year term. In a statement shared on social media, Rodríguez provided new financial […]
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