Oil Archives - Page 2 of 2 - The Daily Journal

Venezuelan Government Advances New Contractual Framework to Accelerate Investment by Foreign Oil Companies

May 18, 2026May 30, 2026NerlayLeave a Comment

The Daily Journal – The Government of Venezuela and the state oil company Petróleos de Venezuela S.A. (PDVSA) have begun distributing to potential investors and energy service companies a draft regulation of the new oil law and a key model contract, according to reports published by news agencies and specialized media outlets. The new regulatory […]

Venezuela Argues in U.S. Court That Citgo Is Worth Nearly Three Times the Sale Offer

May 15, 2026May 30, 2026Samuel YepezLeave a Comment

The Daily Journal.- Lawyers representing Venezuela have asked a U.S. court to suspend the sale process of Citgo Petroleum, arguing that the company’s valuation has increased significantly since the auction of its parent company, PDV Holding, was approved in late 2024 . According to Reuters, attorney Alexandra Cumings stated in a letter to Delaware […]

Experts, Academics, and Politicians File Annulment Request Against the Hydrocarbons Law Reform

May 14, 2026May 30, 2026Samuel YepezLeave a Comment

The Daily Journal.- A group of academics, oil experts, lawyers, and political leaders appeared this Thursday at the headquarters of the Supreme Court of Justice (TSJ) to file a request for annulment on constitutional grounds against the reform of the Organic Hydrocarbons Law, approved last January. Among the petitioners are oil expert Carlos Mendoza Potellá […]

Venezuelan Oil Breaks the $90 Barrier for the First Time in a Decade

May 13, 2026May 30, 2026Samuel YepezLeave a Comment

The Daily Journal.- Merey 16 crude, the main benchmark for Venezuelan oil, reached an average price of $90.47 per barrel, marking a historic milestone by surpassing the $90 barrier for the first time in more than ten years. According to a report by the Venezuelan News Agency (AVN), based on the latest monthly report from […]