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 […]
Continue Reading
The Daily Journal.— Venezuela ranked as the third-largest oil producer in Latin America and the Caribbean in April, accounting for 11% of the region’s crude output, according to the latest report from the Latin American Energy Organization (Olacde), cited by EFE. Regional oil production reached 318 million barrels in April, up 10% from the same […]
Continue Reading
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 […]
Continue Reading
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. […]
Continue Reading
The Daily Journal.- Oil company GeoPark announced its strategic entry into Venezuela’s oil industry through the acquisition and development of the Bare block, located in the Orinoco Oil Belt, in a transaction that will make the Gilinski Group the company’s controlling shareholder. According to Bloomberg, the transaction includes a 25-year Production Participation Contract (CPP) with […]
Continue Reading
The Daily Journal.— Chevron plans to invest more than $7 billion in Venezuela over the next five years and more than double its production in the country to approximately 600,000 barrels per day, following new agreements that improve the fiscal, commercial and legal terms governing its joint ventures. The expansion represents one of the largest […]
Continue Reading
The Daily Journal.- Venezuelan crude exports surged in August as U.S. President Donald Trump’s administration seeks to expand its control over the country’s oil sector. Oil tankers loaded an average of 1.114 million barrels per day of Venezuelan crude in August, a 28% increase from July, according to shipping reports, data from Kpler Ltd., and […]
Continue Reading
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 […]
Continue Reading
The Daily Journal. — The White House said Monday that the oil agreement reached with Venezuela will allow the United States to secure its “energy dominance for the next century” at no cost to American taxpayers. “This deal secures our energy dominance for the next century, all at zero cost to the United States,” President […]
Continue Reading
The Daily Journal – The announcement of the oil agreement between Venezuela’s Acting President Delcy Rodríguez and U.S. President Donald Trump has sparked widespread debate among the country’s economists. Unlike the critical consensus among former oil ministers, economic experts have expressed a broader range of views, from deep fiscal skepticism to cautious optimism and open […]
Continue Reading
