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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The Venezuelan Petroleum Chamber confirmed increased activity among companies and equipment in the sector The Daily Journal.- The Venezuelan Petroleum Chamber (CPV) confirmed Thursday that oil activity in Zulia state has begun to pick up, with companies increasing operations and production reaching between 350,000 and 360,000 barrels per day. Roy Biagioni, president of the CPV’s […]
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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 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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The Daily Journal. — Economist Francisco Rodríguez questioned the financial structure of the agreement signed with the United States to develop 17 Venezuelan oil fields. He warned that, based on the terms publicly presented so far, Venezuela would hand over strategic assets and supply crude oil under preferential terms without receiving guarantees in return. In […]
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The Daily Journal. — Petróleos de Venezuela S.A. (PDVSA) aims to increase production to 1.3 million barrels per day this year and 1.5 million in 2027, supported by the entry of private operators, the reactivation of drilling rigs and the adoption of new technologies, the company’s Executive Vice President Jovanny Martínez said. The target is […]
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The Daily Journal.— U.S. oil exploration company Aspect Holdings will develop several fields in eastern Venezuela over the coming years as part of a new exploration agreement with Petróleos de Venezuela (PDVSA), company President Alex Cranberg announced Wednesday. The parties signed the agreement “for a joint technical and economic feasibility study for the development of […]
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Beijing called Tuesday for safeguards for its interests in fields operated by Chinese companies such as Sinopec and CNPC. The Daily Journal.- The Chinese government on Tuesday demanded protection for its interests in Venezuela following reports that, under the oil agreement between Caracas and Washington, U.S. companies could take control of several fields currently operated […]
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The Daily Journal. — The U.S. Department of War plans to acquire a 35% non-controlling stake in a private company that holds rights to develop oil fields in Venezuela, a move that would mark an unusual expansion of the U.S. government’s direct involvement in an energy project in the country, The Wall Street Journal reported […]
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The Daily Journal. — U.S. Secretary of State Marco Rubio on Friday endorsed the bilateral energy agreement with Venezuela, which gives Washington majority control over 17 strategic oil fields with proven potential of 65 billion barrels of reserves. “This agreement is a major win for both the American and Venezuelan people,” the top U.S. diplomat […]
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