heavy crude Archives - The Daily Journal

Pacific Coast Energy plans $3.5 billion investment to boost heavy crude production in Venezuela

October 9, 2026October 9, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.— U.S.-based Pacific Coast Energy Company (PCEC) plans to invest $3.5 billion over the life of its contracts with Petróleos de Venezuela (PDVSA) to reactivate and develop oil fields in the Delta and Cabimas blocks, the company said. PCEC, a California-based company specializing in heavy crude production, took over operations at the fields […]

What comes after the oil deal? From a secret contract to accountability

September 17, 2026September 17, 2026Tatiana Da GamaLeave a Comment

Neirlay Andrade.— The historic oil agreement signed by Acting President Delcy Rodríguez’s administration and the White House has left a trail of doubts and questions in its wake. It could hardly be otherwise: the document committing the fate of one-fifth of Venezuela’s proven crude oil reserves remains secret. This detail has cooled the optimism that […]

Trump avoids taking position on Venezuela’s potential exit from OPEC

September 1, 2026September 1, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.— U.S. President Donald Trump on Monday avoided taking a position on Venezuela’s potential withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), saying the decision rests with Caracas despite the new energy agreement that deepens oil cooperation between the two countries. “Well, I don’t know. That’s up to them,” Trump said […]

U.S. reveals it receives more than 500,000 barrels of Venezuelan oil per day

August 19, 2026August 19, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.— U.S. Deputy Secretary of Energy Kyle Haustveit revealed that the United States currently receives more than 500,000 barrels of oil per day from Venezuela, representing nearly 50% of the South American country’s total production. “In recent months, we have seen more than 500,000 barrels, roughly half of Venezuelan production, exported to the […]

Texas accounts for 43% of Venezuelan oil imports to the U.S.

July 31, 2026July 31, 2026Tatiana Da GamaLeave a Comment

EFE. — Texas has become the leading destination for Venezuelan crude oil entering the U.S. market, receiving 43% of total imports thanks to a refining infrastructure built over decades to process heavy crude grades such as those produced in Venezuela. According to S&P Global Commodity Insights data for June, Texas received 43% of the Venezuelan […]

U.S. refineries boost Venezuelan crude purchases to highest level in nearly a decade

July 23, 2026July 23, 2026Tatiana Da GamaLeave a Comment

The Daily Journal — U.S. refineries are increasing their purchases of Venezuelan crude oil, putting imports on track to reach their highest level in nearly a decade, according to a report by Bloomberg. Refineries along the U.S. Gulf Coast have stepped up acquisitions to secure heavy crude supplies as wildfires in Canada threaten logistics and […]