The Daily Journal — Chevron expects to increase its oil production in Venezuela by 15% over the next 18 to 24 months as the Trump administration seeks to expand investment by U.S. energy companies in the country. Chevron’s joint ventures in Venezuela currently produce about 280,000 barrels per day, Chief Financial Officer Eimear Bonner said. […]
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The Daily Journal. — Italian energy company ENI is negotiating new contracts with Venezuela and Petróleos de Venezuela (Pdvsa) to align its operations with the country’s new legal framework for the oil sector. At the same time, the company expects to accelerate development of the Junín 5 project in the Orinoco Oil Belt, Reuters reported. […]
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Bloomberg — Pacific Coast Energy Co. (PCEC), a small California-based oil producer, is close to securing an agreement to develop Venezuelan oil fields as the U.S.-backed government in Caracas pushes prospective partners to sign contracts before the end of July. PCEC is one of several companies negotiating joint ventures and production-sharing agreements with Petróleos de […]
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The Daily Journal — U.S. investment firm Lionheart Capital is close to finalizing a $400 million agreement to acquire a stake in the PetroUrdaneta oil field, according to a Bloomberg report. Bloomberg reported that Miami-based Lionheart “signed a non-binding letter of intent with Swedish firm Keo Capital AB, which holds an interest in PetroUrdaneta.” Transaction […]
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The Daily Journal – Current prices of Venezuela’s sovereign bonds largely reflect market expectations of a future external debt restructuring and a recovery in oil production, according to a report by Oxford Economics. The consulting firm argues that the recent rally in Venezuelan bonds, which it forecast in a February analysis, continues to rest on […]
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The Canadian company said it is working with U.S. partners to acquire stakes in joint ventures and develop new production agreements following the lifting of U.S. sanctions. The Daily Journal – Canadian company New Stratus Energy (NSE) announced that it is negotiating the acquisition of stakes in joint ventures with Petróleos de Venezuela S.A. (PDVSA) […]
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The U.S. president said stronger armed forces have delivered results in Venezuela and other international arenas. He also said Caracas is cooperating with Washington to increase oil production. The Daily Journal. — U.S. President Donald Trump cited the January 3 military operation in Venezuela and the capture of Nicolás Maduro as one of the successes […]
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The Daily Journal — Venezuela’s Acting President Delcy Rodríguez said on Monday that the economic impact of the June 24 earthquakes remained “localized” and stated that the country’s main sources of revenue continue to grow, including oil production, which she said has reached 1.2 million barrels per day. Speaking at a National Economic Council meeting […]
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The Daily Journal — Acting President Delcy Rodríguez announced that Venezuela’s oil sector expanded by more than 9% during the second quarter of the year. She added that the industry also posted year-over-year growth exceeding 10% compared with the same period in 2025. “The hydrocarbons sector remains active and continues to recover. During this second […]
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The Daily Journal. — U.S. corporations White Hilt Capital and Sunergon Oil Operating have formed a strategic alliance to support the development, production, and export of oil and gas in Venezuela’s Orinoco Oil Belt. Alejandro Terán Martínez, president of the Latin American Association of Oil Professionals of Texas (ALEP) and chief executive officer of Sunergon, […]
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