The Daily Journal.- Petroquímica de Venezuela (Pequiven) completed the export of 30,000 metric tons of fertilizers to the United States through XTS Commodities, a subsidiary of U.S.-based Xtellus Partners, according to John Barrett, the U.S. chargé d’affaires in Caracas. “It was excellent to see the export of 30,000 metric tons of Pequiven fertilizers to the […]
Continue Reading
The Daily Journal.- The U.S. government announced Wednesday that it had lifted sanctions against Jorge Rodríguez, president of Venezuela’s National Assembly. According to a statement from the Treasury Department’s Office of Foreign Assets Control (OFAC), the agency removed Rodríguez’s name from its sanctions list. The Treasury Department initially placed Rodríguez on its sanctions list on […]
Continue Reading
The French oil company holds a stake in the Urdaneta Oeste field in Lake Maracaibo and continues its well rehabilitation program. Julio A. López, Editor-in-Chief.- French oil company Maurel & Prom (M&P) maintains its presence in Venezuela’s oil sector through its 40% stake in Petroregional del Lago. This joint venture operates the Urdaneta Oeste field […]
Continue Reading
Since January 3, Venezuela’s political and economic cards have been reshuffled. The cards in play are gradually being revealed on boards that are constantly changing. José Gregorio Yépez In Venezuela, the Trump administration is playing its cards cautiously. It is sending signals that seem contradictory and fall outside the expectations of those who bet on […]
Continue Reading
Coal production plunged to 350,000 short tons in 2024 from 8.7 million in 2000 The Daily Journal.- Glencore Plc, Peabody Energy Corp. and Heeney Capital are considering agreements to produce coal in Venezuela’s Zulia state. The talks have focused on operational control and offtake rights rather than direct ownership of the mines. According to a […]
Continue Reading
The Daily Journal. — The United States updated on Monday the licensing framework governing certain commercial and investment activities related to Venezuela’s oil, gas, petrochemical, and electricity sectors through General Licenses 46E, 48D and 49B issued by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC). The new provisions replace previous versions of those […]
Continue Reading
The Daily Journal.- The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) extended through November 5 the protection that prevents holders of Petróleos de Venezuela (PDVSA) 2020 bonds from seizing, without specific authorization, the Citgo shares that serve as collateral for the debt. OFAC adopted the measure through General License 5Z, which it issued […]
Continue Reading
The reform of the Organic Hydrocarbons Law reduced the National Assembly’s role in approving oil deals. At the same time, the technical terms of the agreement announced between Venezuela and the United States remain unpublished. Legal scholar Mariana Campos warns that parliamentary oversight has not disappeared; it must be exercised over implementation. Neirlay Andrade The […]
Continue Reading
The Daily Journal.— The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) expanded its authorization Monday to allow certain U.S. companies to conduct transactions with Petróleos de Venezuela (PDVSA) and its majority-owned subsidiaries, marking another easing of the sanctions framework governing operations with Venezuela’s oil sector. General License 52C, which OFAC issued on Sept. […]
Continue Reading
The Daily Journal.— Colombia’s new ambassador to Venezuela, Jorge Jaller, proposed that Colombia purchase Venezuelan natural gas to generate electricity and return part of the power to its neighboring country as part of a broader strategy to promote economic integration between the two nations. Jaller outlined the proposal in an interview with El Colombiano, where […]
Continue Reading
